Visa Inc. (NYSE:V) Stock Position Decreased by Wealthspire Advisors LLC

Financial News Live · Aug 8, 2022 02:11

Wealthspire Advisors LLC cut its position in shares of Visa Inc. (NYSE:V – Get Rating) by 60.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,731 shares of the credit-card processor's stock after selling 11,784 shares during the period. Wealthspire Advisors LLC's holdings in Visa were worth $1,715,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Qube Research & Technologies Ltd bought a new position in shares of Visa in the 4th quarter valued at approximately $16,496,000. Assenagon Asset Management S.A. raised its stake in shares of Visa by 4.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 25,574 shares of the credit-card processor's stock valued at $5,542,000 after acquiring an additional 1,137 shares in the last quarter. Wealth Enhancement & Preservation of GA LLC raised its stake in shares of Visa by 4.6% in the 4th quarter. Wealth Enhancement & Preservation of GA LLC now owns 5,438 shares of the credit-card processor's stock valued at $1,179,000 after acquiring an additional 240 shares in the last quarter. MV Capital Management Inc. raised its stake in shares of Visa by 1.9% in the 4th quarter. MV Capital Management Inc. now owns 13,740 shares of the credit-card processor's stock valued at $2,978,000 after acquiring an additional 256 shares in the last quarter. Finally, Investment Management of Virginia LLC raised its stake in shares of Visa by 6.7% in the 4th quarter. Investment Management of Virginia LLC now owns 22,655 shares of the credit-card processor's stock valued at $4,909,000 after acquiring an additional 1,415 shares in the last quarter. 80.77% of the stock is owned by hedge funds and other institutional investors.

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Visa Stock Up 1.1 %

V stock opened at $215.87 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.43 and a quick ratio of 1.43. The stock has a market capitalization of $410.43 billion, a P/E ratio of 31.84, a P/E/G ratio of 1.74 and a beta of 0.89. The business has a 50-day moving average of $205.31 and a 200-day moving average of $210.45. Visa Inc. has a fifty-two week low of $185.91 and a fifty-two week high of $242.60.

Visa Announces Dividend

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

Analysts Set New Price Targets

V has been the topic of a number of research analyst reports. Evercore ISI raised their target price on Visa from $304.00 to $310.00 and gave the company an "outperform" rating in a report on Wednesday, April 27th. Mizuho lowered their target price on Visa from $235.00 to $215.00 and set a "neutral" rating on the stock in a report on Friday, July 1st. StockNews.com raised Visa from a "hold" rating to a "buy" rating in a report on Thursday, April 28th. UBS Group raised their target price on Visa from $292.00 to $296.00 and gave the company a "buy" rating in a report on Wednesday, July 27th. Finally, Macquarie lowered their target price on Visa from $270.00 to $260.00 and set an "outperform" rating on the stock in a report on Wednesday, July 27th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Visa currently has a consensus rating of "Moderate Buy" and an average price target 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 dated Friday, July 29th. The stock was 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 owns 156,887 shares in the company, valued at $33,277,301.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 27,000 shares of company stock worth $5,560,740. Corporate insiders own 0.21% of the company's stock.

About Visa

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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.