Leo Wealth LLC Takes $1.50 Million Position in Visa Inc. (NYSE:V)

Leo Wealth LLC acquired a new position in Visa Inc. (NYSE:V) in the 4th quarter, HoldingsChannel reports. The fund acquired 5,698 shares of the credit-card processor’s stock, valued at approximately $1,500,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in V. Norges Bank bought a new position in shares of Visa in the fourth quarter worth $3,895,015,000. International Assets Investment Management LLC boosted its stake in Visa by 17,418.7% in the 4th quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock worth $1,233,338,000 after purchasing an additional 4,710,188 shares during the period. Public Employees Retirement Association of Colorado grew its holdings in Visa by 14,306.3% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock valued at $390,595,000 after buying an additional 1,489,856 shares in the last quarter. Capital World Investors grew its holdings in Visa by 8.0% during the 4th quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock valued at $4,659,169,000 after buying an additional 1,323,238 shares in the last quarter. Finally, Capital Research Global Investors increased its position in shares of Visa by 139.4% during the fourth quarter. Capital Research Global Investors now owns 2,185,077 shares of the credit-card processor’s stock valued at $568,885,000 after buying an additional 1,272,211 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Performance

Shares of V stock opened at $271.13 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. Visa Inc. has a fifty-two week low of $224.98 and a fifty-two week high of $290.96. The company has a market capitalization of $495.88 billion, a P/E ratio of 30.29, a PEG ratio of 1.85 and a beta of 0.97. The stock has a 50 day moving average price of $274.04 and a two-hundred day moving average price of $272.58.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share 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 analysts’ expectations of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.09 EPS. Analysts expect that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.77%. Visa’s dividend payout ratio is currently 23.24%.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 25,293 shares of the company’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 transaction, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lloyd Carney sold 909 shares of the stock in a transaction dated Friday, April 26th. The stock was 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 of the company’s stock, valued at $713,950.05. The disclosure for this sale can be found here. Insiders have sold 34,402 shares of company stock valued at $9,559,382 over the last ninety days. 0.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on V shares. Citigroup raised their price objective on shares of Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. UBS Group raised their price target on shares of Visa from $315.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Redburn Atlantic reaffirmed a “neutral” rating and issued a $307.00 price target on shares of Visa in a report on Wednesday, March 27th. Mizuho lifted their price objective on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Finally, Evercore ISI boosted their target price on Visa from $325.00 to $335.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $303.76.

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.