Nvest Financial LLC Purchases 128 Shares of Visa Inc. (NYSE:V)

Nvest Financial LLC raised its position in Visa Inc. (NYSE:V) by 1.9% during the first quarter, Holdings Channel reports. The fund owned 6,782 shares of the credit-card processor’s stock after acquiring an additional 128 shares during the period. Visa comprises approximately 1.3% of Nvest Financial LLC’s investment portfolio, making the stock its 28th biggest position. Nvest Financial LLC’s holdings in Visa were worth $1,893,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Livelsberger Financial Advisory bought a new position in shares of Visa in the fourth quarter worth about $25,000. Westend Capital Management LLC bought a new position in shares of Visa in the first quarter worth about $25,000. O Brien Wealth Partners LLC bought a new position in shares of Visa in the fourth quarter worth about $32,000. Frank Rimerman Advisors LLC bought a new position in shares of Visa in the fourth quarter worth about $33,000. Finally, Valued Wealth Advisors LLC bought a new position in shares of Visa in the fourth quarter worth about $37,000. Institutional investors own 82.15% of the company’s stock.

Visa Trading Up 1.9 %

Shares of NYSE:V traded up $4.92 during trading on Tuesday, hitting $268.16. The company had a trading volume of 8,696,822 shares, compared to its average volume of 6,833,536. The stock has a market cap of $490.45 billion, a price-to-earnings ratio of 29.77, a price-to-earnings-growth ratio of 1.80 and a beta of 0.95. Visa Inc. has a one year low of $227.68 and a one year high of $290.96. The company has a fifty day simple moving average of $273.70 and a two-hundred day simple moving average of $273.61. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40.

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

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were paid 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 23.24%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Citigroup raised their price objective on Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Mizuho increased their target price on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Wells Fargo & Company increased their target price on Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. William Blair reiterated an “outperform” rating on shares of Visa in a research report on Wednesday, April 24th. Finally, Piper Sandler assumed coverage on Visa in a research report on Monday, May 13th. They set an “overweight” rating and a $322.00 target price for the company. Five investment 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $303.56.

Insider Activity

In related news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the sale, the director now directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

About Visa

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.