Onyx Bridge Wealth Group LLC Has $2.56 Million Stake in Visa Inc. (NYSE:V)

Onyx Bridge Wealth Group LLC raised its stake in shares of Visa Inc. (NYSE:V) by 2.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 7,308 shares of the credit-card processor’s stock after purchasing an additional 153 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Visa were worth $2,561,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in V. Sellwood Investment Partners LLC acquired a new position in shares of Visa in the 4th quarter valued at $41,000. Mountain Hill Investment Partners Corp. bought a new stake in Visa in the fourth quarter valued at about $47,000. Measured Risk Portfolios Inc. acquired a new position in Visa in the fourth quarter worth about $47,000. Navigoe LLC bought a new position in Visa during the fourth quarter worth about $53,000. Finally, O Brien Wealth Partners LLC acquired a new stake in Visa during the first quarter valued at approximately $54,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Up 1.3%

Shares of V opened at $358.70 on Friday. The stock’s fifty day simple moving average is $355.79 and its 200-day simple moving average is $341.46. The firm has a market capitalization of $661.86 billion, a PE ratio of 36.05, a price-to-earnings-growth ratio of 2.43 and a beta of 0.92. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the prior year, the company posted $2.51 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. As a group, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. Visa’s payout ratio is presently 23.72%.

Analyst Upgrades and Downgrades

V has been the topic of several analyst reports. Susquehanna reiterated a “positive” rating on shares of Visa in a research note on Friday, March 21st. Citigroup initiated coverage on Visa in a research note on Monday, June 2nd. They issued a “buy” rating on the stock. Piper Sandler increased their price objective on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Oppenheimer lifted their price objective on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Jefferies Financial Group boosted their target price on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday, May 27th. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $372.84.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the sale, the insider directly owned 26,413 shares of the company’s stock, valued at $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at $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 sold 101,108 shares of company stock valued at $36,771,200. Company insiders own 0.13% of the company’s stock.

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.