Wealthsource Partners LLC Grows Position in Visa Inc. (NYSE:V)

Financial News Live · Aug 8, 2022 01:20

Wealthsource Partners LLC raised its holdings in shares of Visa Inc. (NYSE:V – Get Rating) by 7.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 12,028 shares of the credit-card processor's stock after purchasing an additional 843 shares during the quarter. Wealthsource Partners LLC's holdings in Visa were worth $2,668,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Trust Co. of Virginia VA boosted its position in shares of Visa by 0.9% during the 1st quarter. Trust Co. of Virginia VA now owns 82,676 shares of the credit-card processor's stock valued at $18,335,000 after acquiring an additional 768 shares during the last quarter. Relyea Zuckerberg Hanson LLC boosted its position in shares of Visa by 21.4% during the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 3,629 shares of the credit-card processor's stock valued at $774,000 after acquiring an additional 640 shares during the last quarter. Adams Chetwood Wealth Management LLC boosted its position in shares of Visa by 13.2% during the 1st quarter. Adams Chetwood Wealth Management LLC now owns 4,334 shares of the credit-card processor's stock valued at $961,000 after acquiring an additional 507 shares during the last quarter. Newman Dignan & Sheerar Inc. boosted its position in shares of Visa by 1.7% during the 1st quarter. Newman Dignan & Sheerar Inc. now owns 6,088 shares of the credit-card processor's stock valued at $1,350,000 after acquiring an additional 100 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC boosted its position in shares of Visa by 4.3% during the 1st quarter. Sugarloaf Wealth Management LLC now owns 13,155 shares of the credit-card processor's stock valued at $2,938,000 after acquiring an additional 548 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company's stock.

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Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Macquarie lowered their price target on shares of Visa from $270.00 to $260.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 27th. Susquehanna decreased their target price on shares of Visa from $290.00 to $260.00 in a research report on Thursday, July 28th. Piper Sandler decreased their target price on shares of Visa from $239.00 to $204.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 6th. Mizuho decreased their target price on shares of Visa from $235.00 to $215.00 and set a "neutral" rating on the stock in a research report on Friday, July 1st. Finally, Royal Bank of Canada decreased their target price on shares of Visa from $278.00 to $262.00 in a research report on Wednesday, July 27th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat, Visa presently has a consensus rating of "Moderate Buy" and an average target price of $258.64.

Insider Buying and Selling

In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the company's stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $212.11, for a total transaction of $1,908,990.00. Following the sale, the chief executive officer now directly owns 156,887 shares in the company, valued at $33,277,301.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 27,000 shares of company stock worth $5,560,740. Company insiders own 0.21% of the company's stock.

Visa Stock Up 1.1 %

V stock opened at $215.87 on Friday. The company's 50 day moving average price is $205.31 and its 200 day moving average price is $210.45. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.43 and a current ratio of 1.43. Visa Inc. has a fifty-two week low of $185.91 and a fifty-two week high of $242.60. The firm has a market capitalization of $410.43 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 1.74 and a beta of 0.89.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Friday, August 12th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.69%. Visa's payout ratio is 22.12%.

Visa Profile

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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.