Bromfield Sneider Wealth Advisors Invests $180,000 in Visa Inc. (NYSE:V)

Bromfield Sneider Wealth Advisors purchased a new position in Visa Inc. (NYSE:VGet Rating) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 812 shares of the credit-card processor’s stock, valued at approximately $180,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. increased its holdings in Visa by 1.9% during the 4th quarter. BlackRock Inc. now owns 129,031,301 shares of the credit-card processor’s stock worth $27,962,374,000 after purchasing an additional 2,440,030 shares during the period. State Street Corp increased its holdings in Visa by 2.1% during the 4th quarter. State Street Corp now owns 74,542,114 shares of the credit-card processor’s stock worth $16,154,022,000 after purchasing an additional 1,504,897 shares during the period. Geode Capital Management LLC increased its holdings in Visa by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 29,682,215 shares of the credit-card processor’s stock worth $6,416,486,000 after purchasing an additional 827,137 shares during the period. Alliancebernstein L.P. increased its holdings in Visa by 11.5% during the 4th quarter. Alliancebernstein L.P. now owns 25,850,411 shares of the credit-card processor’s stock worth $5,602,043,000 after purchasing an additional 2,659,845 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in Visa by 1.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 24,368,049 shares of the credit-card processor’s stock worth $5,280,800,000 after purchasing an additional 320,042 shares during the period. Hedge funds and other institutional investors own 80.77% of the company’s stock.

In other news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, April 29th. The stock was sold at an average price of $218.62, for a total value of $1,967,580.00. Following the transaction, the chief executive officer now owns 165,887 shares in the company, valued at $36,266,215.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Ryan Mcinerney sold 6,466 shares of the business’s stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $220.00, for a total value of $1,422,520.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,933 shares of company stock valued at $8,745,055. 0.21% of the stock is owned by company insiders.

Several analysts have issued reports on V shares. Cowen dropped their target price on Visa from $276.00 to $254.00 in a research report on Wednesday, April 27th. The Goldman Sachs Group started coverage on Visa in a research report on Tuesday, May 17th. They set a “buy” rating and a $282.00 target price on the stock. Morgan Stanley increased their target price on Visa from $279.00 to $284.00 in a research report on Wednesday, April 27th. Citigroup dropped their target price on Visa from $285.00 to $265.00 in a research report on Monday, April 25th. Finally, Evercore ISI increased their target price on Visa from $304.00 to $310.00 and gave the company an “outperform” rating in a research report on Wednesday, April 27th. Five equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $267.44.

NYSE V opened at $193.82 on Thursday. The stock has a 50-day simple moving average of $205.14 and a two-hundred day simple moving average of $212.24. The firm has a market capitalization of $368.51 billion, a P/E ratio of 30.47, a PEG ratio of 1.62 and a beta of 0.90. Visa Inc. has a fifty-two week low of $185.91 and a fifty-two week high of $252.67. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29.

Visa (NYSE:VGet Rating) last announced its quarterly earnings results on Tuesday, April 26th. The credit-card processor reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.14. Visa had a return on equity of 42.89% and a net margin of 51.10%. The firm had revenue of $7.19 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the previous year, the business earned $1.38 EPS. Visa’s revenue for the quarter was up 25.5% compared to the same quarter last year. As a group, analysts forecast that Visa Inc. will post 7.16 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Friday, May 13th were paid a $0.375 dividend. The ex-dividend date of this dividend was Thursday, May 12th. This represents a $1.50 annualized dividend and a dividend yield of 0.77%. Visa’s dividend payout ratio is presently 23.58%.

About Visa (Get Rating)

Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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