Walter & Keenan Wealth Management LLC IN ADV Acquires 249 Shares of Visa Inc. (NYSE:V)

Walter & Keenan Wealth Management LLC IN ADV lifted its holdings in shares of Visa Inc. (NYSE:V) by 1.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 18,767 shares of the credit-card processor’s stock after purchasing an additional 249 shares during the quarter. Visa comprises approximately 2.0% of Walter & Keenan Wealth Management LLC IN ADV’s holdings, making the stock its 12th biggest position. Walter & Keenan Wealth Management LLC IN ADV’s holdings in Visa were worth $6,577,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital & Planning LLC boosted its stake in Visa by 21.2% in the 4th quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor’s stock valued at $300,000 after purchasing an additional 166 shares during the period. Sovereign Investment Advisors LLC bought a new stake in Visa in the 4th quarter valued at $424,000. Brighton Jones LLC boosted its stake in Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after purchasing an additional 6,883 shares during the period. Union Bancaire Privee UBP SA bought a new stake in Visa in the 4th quarter valued at $202,074,000. Finally, Revolve Wealth Partners LLC boosted its stake in Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after purchasing an additional 4,817 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

V has been the subject of several recent research reports. Wall Street Zen upgraded Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Macquarie cut their target price on Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on Visa in a report on Monday, June 2nd. They set a “neutral” rating for the company. Jefferies Financial Group boosted their price target on Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a report on Tuesday, May 27th. Finally, Truist Financial assumed coverage on Visa in a report on Monday, June 2nd. They set a “buy” rating and a $400.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $372.80.

Visa Stock Down 4.9%

Shares of Visa stock opened at $340.16 on Friday. 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 current ratio of 1.08 and a quick ratio of 1.08. The stock’s 50-day moving average is $351.69 and its 200 day moving average is $338.37. The firm has a market cap of $627.64 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 2.29 and a beta of 0.94.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The company 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 company earned $2.51 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.69%. Visa’s payout ratio is currently 23.72%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the 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 transaction, the chief executive officer now owns 537 shares in the company, valued at approximately $188,186.28. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 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 value of $889,868.50. Following the completion of the transaction, the general counsel now owns 11,925 shares in the company, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,098 shares of company stock worth $36,738,526. 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.