Congress Wealth Management LLC DE Purchases 268 Shares of Visa Inc. (NYSE:V)

Congress Wealth Management LLC DE increased its holdings in Visa Inc. (NYSE:V) by 0.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,218 shares of the credit-card processor’s stock after purchasing an additional 268 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Visa were worth $35,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Livelsberger Financial Advisory purchased a new stake in shares of Visa in the 4th quarter worth about $25,000. Westend Capital Management LLC purchased a new stake in shares of Visa in the 1st quarter worth approximately $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of Visa in the 4th quarter worth approximately $32,000. Frank Rimerman Advisors LLC bought a new position in Visa during the 4th quarter valued at approximately $33,000. Finally, Valued Wealth Advisors LLC purchased a new position in Visa during the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In other Visa news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the sale, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

Visa Stock Up 0.3 %

V traded up $0.70 on Monday, hitting $263.17. The company had a trading volume of 7,954,876 shares, compared to its average volume of 6,818,625. The stock has a market capitalization of $481.32 billion, a price-to-earnings ratio of 29.40, a P/E/G ratio of 1.80 and a beta of 0.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a fifty day moving average price of $273.88 and a 200-day moving average price of $273.58. Visa Inc. has a 12-month low of $227.68 and a 12-month high of $290.96.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The firm had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.09 EPS. Analysts predict that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s dividend payout ratio is currently 23.24%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on V. UBS Group boosted their price target on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. William Blair reissued an “outperform” rating on shares of Visa in a report on Wednesday, April 24th. Macquarie raised their target price on shares of Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Mizuho increased their price target on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Finally, TD Cowen began coverage on Visa in a report on Thursday, April 11th. They issued a “buy” rating and a $320.00 price objective for the company. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $303.56.

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.