Pegasus Asset Management Inc. Has $336,000 Stake in Visa Inc. (NYSE:V)

Pegasus Asset Management Inc. lifted its stake in Visa Inc. (NYSE:V) by 27.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 958 shares of the credit-card processor’s stock after purchasing an additional 208 shares during the period. Pegasus Asset Management Inc.’s holdings in Visa were worth $336,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Visa in the fourth quarter valued at approximately $27,000. Compass Planning Associates Inc acquired a new stake in Visa during the 4th quarter worth $32,000. NewSquare Capital LLC acquired a new stake in Visa during the 4th quarter worth $35,000. FPC Investment Advisory Inc. grew its holdings in Visa by 377.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock worth $36,000 after acquiring an additional 83 shares during the period. Finally, Sellwood Investment Partners LLC acquired a new stake in Visa during the 4th quarter worth $41,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 0.7%

Shares of V opened at $357.89 on Wednesday. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The firm has a market cap of $660.37 billion, a P/E ratio of 35.97, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94. The firm’s 50-day simple moving average is $351.22 and its 200 day simple moving average is $338.19. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the prior year, the business earned $2.51 EPS. Visa’s quarterly revenue was up 9.3% on a year-over-year basis. On average, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.66%. Visa’s payout ratio is presently 23.72%.

Wall Street Analysts Forecast Growth

V has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Truist Financial initiated coverage on shares of Visa in a research report on Monday, June 2nd. They set a “buy” rating and a $400.00 price target on the stock. Macquarie reduced their price target on shares of Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Susquehanna reissued a “positive” rating on shares of Visa in a research report on Friday, March 21st. Finally, UBS Group lifted their price target on shares of Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average target price of $372.80.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 14,813 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $355.04, for a total transaction of $5,259,207.52. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the sale, the chief executive officer now owns 537 shares in the company, valued at $185,576.46. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,098 shares of company stock worth $36,738,526 in the last quarter. Corporate insiders own 0.13% of the company’s stock.

About Visa

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.