Tarbox Family Office Inc. Acquires New Shares in Visa Inc. (NYSE:V)

Tarbox Family Office Inc. purchased a new stake in Visa Inc. (NYSE:V) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 753 shares of the credit-card processor’s stock, valued at approximately $210,000.

Other institutional investors also recently modified their holdings of the company. Nadler Financial Group Inc. lifted its stake in Visa by 2.4% in the 4th quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock valued at $495,000 after acquiring an additional 44 shares in the last quarter. Towerpoint Wealth LLC acquired a new stake in shares of Visa in the fourth quarter valued at approximately $216,000. Andrew Hill Investment Advisors Inc. acquired a new position in Visa during the fourth quarter worth $3,427,000. Richelieu Gestion SA bought a new position in Visa in the fourth quarter valued at $307,000. Finally, Cooper Financial Group increased its stake in Visa by 6.4% in the 4th quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock valued at $2,064,000 after buying an additional 476 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on V. William Blair reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Oppenheimer lifted their price target on shares of Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Mizuho lifted their price target on shares of Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Robert W. Baird lifted their price target on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Finally, Piper Sandler began coverage on shares of Visa in a research note on Monday, May 13th. They issued an “overweight” rating and a $322.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average price target of $303.56.

Insider Activity

In other news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,402 shares of company stock worth $9,559,382. 0.19% of the stock is currently owned by corporate insiders.

Visa Stock Performance

NYSE V traded down $6.98 during trading on Thursday, reaching $266.62. The company’s stock had a trading volume of 10,526,284 shares, compared to its average volume of 6,751,320. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $487.63 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 1.87 and a beta of 0.97. Visa Inc. has a 12 month low of $226.02 and a 12 month high of $290.96. The firm has a 50 day moving average price of $274.13 and a 200 day moving average price of $273.41.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating the consensus estimate of $2.43 by $0.08. The company had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.09 EPS. As a group, equities analysts anticipate that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s payout ratio is presently 23.24%.

Visa Profile

Visa Inc operates as a payment technology company in the United States and internationally. 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, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; 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.