Visa Inc. $V Shares Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC increased its stake in Visa Inc. (NYSE:V) by 43.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,768 shares of the credit-card processor’s stock after purchasing an additional 8,344 shares during the period. Proficio Capital Partners LLC’s holdings in Visa were worth $9,527,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in V. Nixon Peabody Trust Co. raised its stake in shares of Visa by 58.1% in the 1st quarter. Nixon Peabody Trust Co. now owns 4,201 shares of the credit-card processor’s stock worth $1,270,000 after buying an additional 1,543 shares in the last quarter. Vega Investment Solutions bought a new position in Visa during the second quarter valued at about $829,000. Beacon Financial Group boosted its stake in Visa by 83.9% during the first quarter. Beacon Financial Group now owns 22,501 shares of the credit-card processor’s stock valued at $6,801,000 after buying an additional 10,267 shares in the last quarter. Sterling Investment Management LLC grew its holdings in Visa by 43.7% during the fourth quarter. Sterling Investment Management LLC now owns 17,832 shares of the credit-card processor’s stock worth $6,254,000 after acquiring an additional 5,421 shares during the period. Finally, Pincus Capital Management LP acquired a new position in Visa during the fourth quarter worth about $4,278,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total transaction of $729,720.00. Following the completion of the sale, the general counsel directly owned 18,404 shares in the company, valued at approximately $6,625,440. This trade represents a 9.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tullier Kelly Mahon sold 57,272 shares of Visa stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $364.97, for a total value of $20,902,561.84. Following the transaction, the insider directly owned 49,662 shares in the company, valued at approximately $18,125,140.14. This trade represents a 53.56% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 96,634 shares of company stock valued at $34,537,016. Corporate insiders own 0.12% of the company’s stock.

Visa Trading Down 0.6%

Visa stock opened at $379.17 on Tuesday. The company has a 50 day moving average price of $360.10 and a 200 day moving average price of $331.83. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $385.57. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $676.60 billion, a price-to-earnings ratio of 32.24, a P/E/G ratio of 2.04 and a beta of 0.74.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.09. The company had revenue of $11.63 billion for the quarter, compared to the consensus estimate of $11.40 billion. Visa had a net margin of 50.78% and a return on equity of 67.68%. The company’s revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.98 EPS. Research analysts forecast that Visa Inc. will post 13.16 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 11th. Visa’s payout ratio is presently 22.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on V shares. Truist Financial set a $406.00 price target on shares of Visa and gave the company a “buy” rating in a report on Wednesday, August 5th. Piper Sandler reaffirmed an “overweight” rating and issued a $430.00 price objective (up from $394.00) on shares of Visa in a research note on Wednesday, July 29th. JPMorgan Chase & Co. boosted their target price on shares of Visa from $400.00 to $450.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Royal Bank Of Canada restated an “outperform” rating and set a $466.00 target price (up from $412.00) on shares of Visa in a report on Monday. Finally, Weiss Ratings raised Visa from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 30th. Seven analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the stock. According to data from MarketBeat, Visa has a consensus rating of “Buy” and an average price target of $416.62.

Visa Company 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.