TCI Wealth Advisors Inc. Acquires 205 Shares of Visa Inc. (NYSE:V)

TCI Wealth Advisors Inc. boosted its holdings in Visa Inc. (NYSE:V) by 4.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,312 shares of the credit-card processor’s stock after purchasing an additional 205 shares during the period. TCI Wealth Advisors Inc.’s holdings in Visa were worth $1,482,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Raleigh Capital Management Inc. increased its position in shares of Visa by 3.2% during the third quarter. Raleigh Capital Management Inc. now owns 1,528 shares of the credit-card processor’s stock valued at $351,000 after buying an additional 47 shares during the period. Capital Investment Advisors LLC grew its holdings in shares of Visa by 12.9% during the fourth quarter. Capital Investment Advisors LLC now owns 29,159 shares of the credit-card processor’s stock valued at $7,592,000 after buying an additional 3,341 shares during the last quarter. Pacifica Partners Inc. grew its holdings in shares of Visa by 4.6% during the fourth quarter. Pacifica Partners Inc. now owns 20,920 shares of the credit-card processor’s stock valued at $5,329,000 after buying an additional 924 shares during the last quarter. Valued Wealth Advisors LLC purchased a new stake in shares of Visa during the fourth quarter valued at approximately $37,000. Finally, Tompkins Financial Corp grew its holdings in shares of Visa by 18.6% during the fourth quarter. Tompkins Financial Corp now owns 1,118 shares of the credit-card processor’s stock valued at $291,000 after buying an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on V. Bank of America reiterated a “neutral” rating and issued a $297.00 price target (down from $305.00) on shares of Visa in a report on Wednesday, July 10th. Piper Sandler started coverage on shares of Visa in a research note on Monday, May 13th. They set an “overweight” rating and a $322.00 price target for the company. William Blair reaffirmed an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. TD Cowen started coverage on shares of Visa in a research report on Thursday, April 11th. They issued a “buy” rating and a $320.00 price objective for the company. Finally, Citigroup boosted their price target on shares of Visa from $314.00 to $321.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average price target of $304.44.

Insider Buying and Selling

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

Visa Stock Performance

V traded up $1.44 on Monday, hitting $267.18. 2,026,139 shares of the company traded hands, compared to its average volume of 6,836,147. The stock has a market capitalization of $488.66 billion, a PE ratio of 29.83, a PEG ratio of 1.85 and a beta of 0.95. The company has a 50 day moving average of $272.82 and a 200-day moving average of $274.11. Visa Inc. has a 12-month low of $227.68 and a 12-month high of $290.96. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The business had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The company’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.09 EPS. Sell-side analysts anticipate that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently disclosed 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. 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 dividend payout ratio (DPR) is 23.24%.

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.