Icon Wealth Advisors LLC Increases Position in Visa Inc. (NYSE:V)

Icon Wealth Advisors LLC lifted its holdings in Visa Inc. (NYSE:V) by 30.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,311 shares of the credit-card processor’s stock after buying an additional 6,440 shares during the quarter. Visa makes up about 0.7% of Icon Wealth Advisors LLC’s portfolio, making the stock its 25th biggest position. Icon Wealth Advisors LLC’s holdings in Visa were worth $7,622,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Visa by 0.6% during the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after acquiring an additional 788,908 shares in the last quarter. Capital International Investors raised its position in Visa by 2.7% during the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after purchasing an additional 626,618 shares in the last quarter. Capital World Investors lifted its holdings in shares of Visa by 5.4% in the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after buying an additional 968,008 shares during the period. Norges Bank bought a new position in shares of Visa during the 4th quarter worth $3,895,015,000. Finally, Jennison Associates LLC increased its stake in shares of Visa by 0.7% during the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after buying an additional 85,123 shares during the period. 82.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

V has been the topic of several research reports. William Blair raised shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Macquarie reiterated an “outperform” rating and issued a $300.00 price target on shares of Visa in a report on Wednesday, July 24th. Oppenheimer upped their price objective on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Piper Sandler cut their target price on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada reduced their target price on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $307.25.

Visa Stock Performance

V stock traded up $1.42 during midday trading on Tuesday, hitting $263.02. 5,941,246 shares of the stock traded hands, compared to its average volume of 6,901,083. The stock’s fifty day simple moving average is $269.44 and its 200-day simple moving average is $274.34. The firm has a market cap of $481.05 billion, a P/E ratio of 29.39, a PEG ratio of 1.83 and a beta of 0.95. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $290.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $2.16 earnings per share. On average, analysts expect that Visa Inc. will post 9.91 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.79%. The ex-dividend date is Friday, August 9th. Visa’s payout ratio is 23.24%.

Insiders Place Their Bets

In related news, 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 transaction of $7,009,954.95. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at $4,959,322.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by company insiders.

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.