Algert Global LLC Purchases 1,647 Shares of Visa Inc. $V

Algert Global LLC boosted its holdings in shares of Visa Inc. (NYSE:V) by 20.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,857 shares of the credit-card processor’s stock after acquiring an additional 1,647 shares during the quarter. Algert Global LLC’s holdings in Visa were worth $3,454,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in V. Seven Mile Advisory increased its stake in shares of Visa by 2.9% during the 1st quarter. Seven Mile Advisory now owns 4,867 shares of the credit-card processor’s stock worth $1,706,000 after purchasing an additional 136 shares during the last quarter. Corient IA LLC bought a new stake in Visa in the first quarter worth $263,000. Ethos Financial Group LLC increased its position in Visa by 45.2% during the first quarter. Ethos Financial Group LLC now owns 7,185 shares of the credit-card processor’s stock worth $2,350,000 after buying an additional 2,236 shares during the last quarter. LeConte Wealth Management LLC bought a new position in Visa during the first quarter valued at about $342,000. Finally, Northwest & Ethical Investments L.P. raised its holdings in Visa by 9.2% during the first quarter. Northwest & Ethical Investments L.P. now owns 123,802 shares of the credit-card processor’s stock valued at $43,388,000 after buying an additional 10,459 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Down 0.1%

V opened at $342.51 on Wednesday. The business has a 50 day moving average of $349.13 and a 200-day moving average of $347.41. The stock has a market capitalization of $627.75 billion, a price-to-earnings ratio of 33.45, a P/E/G ratio of 2.28 and a beta of 0.94. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 1-year low of $265.31 and a 1-year high of $375.51.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the previous year, the firm posted $2.42 earnings per share. Visa’s revenue was up 14.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is presently 23.05%.

Wall Street Analysts Forecast Growth

V has been the topic of a number of analyst reports. Raymond James Financial reissued an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research report on Thursday, July 17th. They set a “buy” rating and a $410.00 target price for the company. Piper Sandler lifted their price target on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. UBS Group restated a “buy” rating and issued a $415.00 price objective (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Finally, Citigroup assumed coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus target price of $380.84.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares in the company, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their position. The sale 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 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 77,127 shares of company stock valued at $28,340,553 over the last three months. 0.13% of the stock is owned by corporate insiders.

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.