Homrich & Berg grew its stake in shares of Visa Inc. (NYSE:V) by 10.9% in the first quarter, Holdings Channel reports. The institutional investor owned 32,850 shares of the credit-card processor’s stock after purchasing an additional 3,239 shares during the period. Homrich & Berg’s holdings in Visa were worth $6,955,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Eukles Asset Management bought a new stake in shares of Visa during the first quarter valued at approximately $39,000. Mach 1 Financial Group Inc. acquired a new stake in Visa in the fourth quarter worth $42,000. TFO TDC LLC acquired a new stake in Visa in the first quarter worth $43,000. ADE LLC acquired a new stake in Visa in the fourth quarter worth $63,000. Finally, Lloyd Advisory Services LLC. raised its holdings in shares of Visa by 101.8% during the first quarter. Lloyd Advisory Services LLC. now owns 335 shares of the credit-card processor’s stock worth $71,000 after acquiring an additional 169 shares during the period. 81.11% of the stock is owned by institutional investors and hedge funds.
Shares of V traded down $0.03 during trading hours on Thursday, hitting $243.63. The stock had a trading volume of 56,082 shares, compared to its average volume of 7,176,039. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.12 and a quick ratio of 2.12. Visa Inc. has a 12 month low of $179.23 and a 12 month high of $250.46. The company has a market cap of $474.58 billion, a price-to-earnings ratio of 50.34, a PEG ratio of 2.31 and a beta of 0.99. The firm has a fifty day moving average price of $233.70.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 1st. Stockholders of record on Friday, May 14th were given a $0.32 dividend. The ex-dividend date was Thursday, May 13th. This represents a $1.28 annualized dividend and a dividend yield of 0.53%. Visa’s payout ratio is 25.40%.
In related news, President Ryan Mcinerney sold 11,193 shares of the business’s stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $234.05, for a total value of $2,619,721.65. Following the sale, the president now directly owns 11,193 shares in the company, valued at $2,619,721.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the business’s stock in a transaction dated Friday, April 30th. The stock was sold at an average price of $235.32, for a total value of $2,117,880.00. Following the completion of the sale, the chief executive officer now owns 160,112 shares in the company, valued at $37,677,555.84. The disclosure for this sale can be found here. Insiders sold 88,047 shares of company stock worth $20,834,001 over the last 90 days. Company insiders own 0.19% of the company’s stock.
Several equities research analysts have issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Visa from $240.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday, April 28th. Morgan Stanley increased their price objective on Visa from $258.00 to $279.00 and gave the stock an “overweight” rating in a research report on Monday, May 3rd. BMO Capital Markets raised their price target on Visa from $230.00 to $245.00 and gave the stock an “outperform” rating in a research report on Thursday, April 29th. Susquehanna Bancshares lifted their target price on Visa from $250.00 to $265.00 and gave the company a “positive” rating in a research report on Wednesday, April 28th. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of Visa in a research report on Wednesday, May 5th. Twenty-two equities research analysts have rated the stock with a buy rating, Visa currently has a consensus rating of “Buy” and a consensus target price of $258.92.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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