Chemistry Wealth Management LLC Boosts Stock Position in Visa Inc. (NYSE:V)

Chemistry Wealth Management LLC grew its stake in shares of Visa Inc. (NYSE:V) by 27.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,369 shares of the credit-card processor’s stock after buying an additional 291 shares during the period. Chemistry Wealth Management LLC’s holdings in Visa were worth $480,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Blue Rock Wealth Management LLC purchased a new position in shares of Visa during the 4th quarter valued at about $306,000. Aptus Capital Advisors LLC lifted its position in shares of Visa by 19.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock valued at $57,727,000 after buying an additional 30,185 shares in the last quarter. King Wealth Management Group lifted its position in shares of Visa by 9.0% during the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock valued at $23,663,000 after buying an additional 6,172 shares in the last quarter. Eagle Strategies LLC lifted its position in shares of Visa by 2.5% during the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock valued at $811,000 after buying an additional 63 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Visa during the 4th quarter valued at about $10,163,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Paul D. Fabara sold 46,214 shares of the business’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 completion of the transaction, the insider now owns 26,413 shares in the company, valued at $9,772,810. The trade was a 63.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the business’s 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 transaction, the general counsel now owns 11,925 shares of the company’s stock, 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. In the last 90 days, insiders have sold 168,162 shares of company stock valued at $58,645,479. 0.13% of the stock is currently owned by insiders.

Visa Stock Performance

NYSE:V opened at $370.44 on Friday. The company has a market cap of $683.52 billion, a price-to-earnings ratio of 37.34, a PEG ratio of 2.33 and a beta of 0.96. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The stock’s 50 day simple moving average is $345.45 and its two-hundred day simple moving average is $335.50. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $371.00.

Visa (NYSE:V) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share 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 the consensus estimate of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.51 EPS. As a group, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on V. William Blair reaffirmed an “outperform” rating on shares of Visa in a research report on Wednesday, April 30th. Jefferies Financial Group lifted their target price on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday, May 27th. Mizuho raised Visa from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $359.00 to $425.00 in a research note on Thursday. BMO Capital Markets lifted their target price on Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Finally, Piper Sandler lifted their target price on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $372.80.

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.