Firethorn Wealth Partners LLC Raises Stock Position in Visa Inc. (NYSE:V)

Firethorn Wealth Partners LLC grew its holdings in shares of Visa Inc. (NYSE:V) by 7.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,663 shares of the credit-card processor’s stock after buying an additional 112 shares during the quarter. Firethorn Wealth Partners LLC’s holdings in Visa were worth $583,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in V. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Visa in the 4th quarter worth about $27,000. POM Investment Strategies LLC raised its position in Visa by 48.5% in the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 32 shares during the period. Compass Planning Associates Inc bought a new stake in Visa in the fourth quarter worth about $32,000. NewSquare Capital LLC purchased a new position in shares of Visa during the fourth quarter valued at approximately $35,000. Finally, FPC Investment Advisory Inc. grew its stake in shares of Visa by 377.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock valued at $36,000 after buying an additional 83 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on V. BMO Capital Markets lifted their price objective on shares of Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Susquehanna reissued a “positive” rating on shares of Visa in a research note on Friday, March 21st. UBS Group raised their price objective on Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. Finally, William Blair reiterated an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. Six equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $367.48.

Visa Price Performance

NYSE V opened at $366.12 on Wednesday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $369.15. The firm’s fifty day simple moving average is $344.15 and its two-hundred day simple moving average is $334.49. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $675.56 billion, a P/E ratio of 36.91, a P/E/G ratio of 2.33 and a beta of 0.96.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period in the prior year, the company posted $2.51 EPS. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. Analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Tuesday, May 13th. Visa’s payout ratio is currently 23.72%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total value of $3,020,792.80. Following the sale, the chief executive officer now owns 537 shares in the company, valued at $188,186.28. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul D. Fabara sold 14,813 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $355.04, for a total transaction of $5,259,207.52. Following the completion of the transaction, the insider now owns 26,413 shares in the company, valued at approximately $9,377,671.52. This trade represents a 35.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,328 shares of company stock worth $38,419,222 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Visa Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.