Fortis Advisors LLC Has $550,000 Holdings in Visa Inc. (NYSE:V)

Fortis Advisors LLC raised its stake in Visa Inc. (NYSE:V) by 6.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,570 shares of the credit-card processor’s stock after buying an additional 102 shares during the quarter. Fortis Advisors LLC’s holdings in Visa were worth $550,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hirtle Callaghan & Co LLC boosted its holdings in Visa by 1.3% in the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock worth $724,000 after acquiring an additional 29 shares in the last quarter. FWL Investment Management LLC raised its position in shares of Visa by 0.5% in the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor’s stock valued at $2,005,000 after purchasing an additional 29 shares during the last quarter. Valmark Advisers Inc. boosted its stake in Visa by 0.4% in the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock worth $2,292,000 after purchasing an additional 30 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. grew its position in Visa by 0.4% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor’s stock worth $2,302,000 after purchasing an additional 30 shares during the last quarter. Finally, Capstone Financial Advisors Inc. increased its stake in Visa by 3.6% during the 4th quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor’s stock valued at $276,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Activity

In other news, insider Paul D. Fabara sold 46,214 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the sale, the insider now owns 26,413 shares of the company’s stock, valued at approximately $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel now owns 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,448 shares of company stock valued at $50,133,659. 0.13% of the stock is currently owned by corporate insiders.

Visa Stock Down 5.0%

V stock opened at $352.75 on Monday. The firm has a market cap of $650.87 billion, a PE ratio of 35.56, a PEG ratio of 2.33 and a beta of 0.94. Visa Inc. has a one year low of $252.70 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The firm’s 50 day moving average price is $349.76 and its 200-day moving average price is $337.77.

Visa (NYSE:V) last issued its quarterly earnings data 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. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. Visa’s revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.51 EPS. On average, equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa’s payout ratio is presently 23.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Truist Financial initiated coverage on Visa in a report on Monday, June 2nd. They set a “buy” rating and a $400.00 target price for the company. Citigroup started coverage on shares of Visa in a report on Monday, June 2nd. They set a “buy” rating for the company. Wall Street Zen raised shares of Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. UBS Group lifted their price objective on Visa from $395.00 to $405.00 and gave the company a “buy” rating in a research note on Wednesday, May 28th. Finally, Susquehanna reissued a “positive” rating on shares of Visa in a report on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $372.80.

Visa Company 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.