Abacus Wealth Partners LLC Makes New Investment in Visa Inc. (NYSE:V)

Abacus Wealth Partners LLC bought a new position in Visa Inc. (NYSE:V) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,520 shares of the credit-card processor’s stock, valued at approximately $352,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp grew its holdings in shares of Visa by 3.7% during the first quarter. State Street Corp now owns 72,897,112 shares of the credit-card processor’s stock valued at $16,435,339,000 after purchasing an additional 2,572,159 shares during the last quarter. Morgan Stanley grew its stake in Visa by 13.0% during the 4th quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock worth $10,621,287,000 after buying an additional 5,864,340 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Visa by 4.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 51,100,136 shares of the credit-card processor’s stock worth $10,616,564,000 after buying an additional 2,216,275 shares during the last quarter. Geode Capital Management LLC increased its position in Visa by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 32,221,146 shares of the credit-card processor’s stock worth $6,683,673,000 after buying an additional 640,839 shares during the period. Finally, Moneta Group Investment Advisors LLC lifted its stake in Visa by 116,608.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock valued at $5,090,978,000 after buying an additional 24,483,134 shares during the last quarter. 81.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 425 shares of the company’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $240.00, for a total transaction of $102,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Rajat Taneja sold 22,700 shares of the business’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $240.21, for a total transaction of $5,452,767.00. Following the transaction, the insider now owns 232,112 shares in the company, valued at approximately $55,755,623.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 425 shares of the company’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $240.00, for a total transaction of $102,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,750 shares of company stock worth $15,845,648. 0.22% of the stock is owned by insiders.

Visa Stock Down 0.0 %

Shares of Visa stock opened at $247.16 on Wednesday. The stock has a 50-day simple moving average of $241.36 and a 200-day simple moving average of $231.87. Visa Inc. has a 52-week low of $174.60 and a 52-week high of $248.87. The firm has a market cap of $460.17 billion, a price-to-earnings ratio of 31.37, a P/E/G ratio of 1.86 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.49.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.05. The business had revenue of $8.12 billion during the quarter, compared to analyst estimates of $8.06 billion. Visa had a net margin of 51.94% and a return on equity of 49.42%. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.98 EPS. On average, equities research analysts expect that Visa Inc. will post 8.65 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Thursday, August 10th. Visa’s dividend payout ratio is 22.84%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on V. Wells Fargo & Company lifted their price target on Visa from $265.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, July 26th. Truist Financial boosted their price target on Visa from $270.00 to $275.00 in a research report on Wednesday, July 26th. Bank of America raised their price target on Visa from $270.00 to $275.00 in a report on Tuesday, July 18th. Credit Suisse Group lifted their price objective on shares of Visa from $265.00 to $275.00 in a research note on Wednesday, July 26th. Finally, Barclays increased their target price on shares of Visa from $272.00 to $287.00 and gave the company an “overweight” rating in a research report on Monday, July 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $273.77.

About Visa

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.