Smith Salley Wealth Management Acquires 2,383 Shares of Visa Inc. $V

Smith Salley Wealth Management raised its holdings in Visa Inc. (NYSE:V) by 2.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 120,744 shares of the credit-card processor’s stock after purchasing an additional 2,383 shares during the quarter. Visa accounts for approximately 1.8% of Smith Salley Wealth Management’s investment portfolio, making the stock its 12th biggest position. Smith Salley Wealth Management’s holdings in Visa were worth $36,494,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of V. Sunbeam Capital Management LLC raised its holdings in shares of Visa by 4.8% during the 1st quarter. Sunbeam Capital Management LLC now owns 1,838 shares of the credit-card processor’s stock worth $556,000 after buying an additional 85 shares in the last quarter. Spectrum Planning & Advisory Services Inc. boosted its stake in Visa by 1.7% in the first quarter. Spectrum Planning & Advisory Services Inc. now owns 1,896 shares of the credit-card processor’s stock valued at $573,000 after buying an additional 32 shares in the last quarter. Evolve Private Wealth LLC grew its position in Visa by 54.1% in the first quarter. Evolve Private Wealth LLC now owns 9,010 shares of the credit-card processor’s stock valued at $2,723,000 after acquiring an additional 3,164 shares during the last quarter. Meadowbrook Advisors Group LLC grew its position in Visa by 2.6% in the first quarter. Meadowbrook Advisors Group LLC now owns 15,570 shares of the credit-card processor’s stock valued at $4,706,000 after acquiring an additional 395 shares during the last quarter. Finally, Center For Asset Management LLC raised its stake in Visa by 7.5% during the first quarter. Center For Asset Management LLC now owns 729 shares of the credit-card processor’s stock worth $220,000 after acquiring an additional 51 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on V. Sanford C. Bernstein reissued an “outperform” rating and issued a $450.00 target price on shares of Visa in a report on Tuesday, June 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price objective on shares of Visa in a research report on Wednesday, April 29th. BMO Capital Markets started coverage on shares of Visa in a research note on Tuesday, April 21st. They issued an “outperform” rating and a $365.00 price objective for the company. Evercore set a $350.00 target price on shares of Visa in a research report on Wednesday, April 29th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $389.00 target price on shares of Visa in a research note on Wednesday, April 29th. Six research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Visa presently has an average rating of “Buy” and an average target price of $387.78.

Insider Buying and Selling

In other Visa news, CFO Chris Suh sold 10,639 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total value of $3,455,653.59. Following the completion of the transaction, the chief financial officer directly owned 9,872 shares in the company, valued at approximately $3,206,524.32. This represents a 51.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 31,455 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the completion of the transaction, the chief executive officer owned 15,174 shares of the company’s stock, valued at approximately $5,161,284.36. This trade represents a 67.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.12% of the company’s stock.

Visa Price Performance

Visa stock opened at $327.78 on Tuesday. The stock has a 50-day moving average price of $321.61 and a two-hundred day moving average price of $324.18. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $359.66. The company has a market capitalization of $587.96 billion, a PE ratio of 28.55, a P/E/G ratio of 1.75 and a beta of 0.77. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.21. Visa had a return on equity of 65.00% and a net margin of 51.68%.The company had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.75 billion. During the same period in the previous year, the business posted $2.76 earnings per share. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. Analysts expect that Visa Inc. will post 13.09 EPS for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were given a dividend of $0.67 per share. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s dividend payout ratio (DPR) is currently 23.34%.

Visa declared that its Board of Directors has initiated a stock buyback program on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Visa Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.