BlueChip Wealth Advisors LLC Has $639,000 Stock Position in Visa Inc. (NYSE:V)

BlueChip Wealth Advisors LLC lessened its stake in Visa Inc. (NYSE:V) by 27.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,022 shares of the credit-card processor’s stock after selling 751 shares during the quarter. BlueChip Wealth Advisors LLC’s holdings in Visa were worth $639,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Howard Capital Management Group LLC lifted its holdings in Visa by 0.6% during the 3rd quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock valued at $29,242,000 after purchasing an additional 610 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Visa by 7.7% in the third quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock valued at $1,576,366,000 after purchasing an additional 411,210 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Visa by 110.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 27,957 shares of the credit-card processor’s stock worth $7,687,000 after buying an additional 14,675 shares during the last quarter. Carl P. Sherr & Co. LLC boosted its holdings in shares of Visa by 1.0% during the 3rd quarter. Carl P. Sherr & Co. LLC now owns 5,906 shares of the credit-card processor’s stock worth $1,624,000 after buying an additional 60 shares during the period. Finally, Providence Wealth Advisors LLC acquired a new position in Visa in the 3rd quarter valued at about $224,000. 82.15% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the completion of the sale, the insider now directly owns 26,413 shares in the company, valued at approximately $8,642,333.60. This represents a 59.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,205 shares of company stock valued at $48,560,961. 0.13% of the stock is currently owned by company insiders.

Visa Stock Performance

Visa stock opened at $342.62 on Friday. The business has a 50 day moving average of $343.60 and a 200-day moving average of $315.06. The company has a market capitalization of $636.51 billion, a P/E ratio of 34.54, a P/E/G ratio of 2.33 and a beta of 0.95. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.69%. The ex-dividend date was Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Oppenheimer restated an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Morgan Stanley lifted their price target on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Barclays boosted their price target on Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Piper Sandler reissued an “overweight” rating and set a $383.00 target price (up previously from $368.00) on shares of Visa in a report on Friday, January 31st. Finally, Susquehanna reissued a “positive” rating on shares of Visa in a research report on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average target price of $355.84.

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.