Dock Street Asset Management Inc. increased its stake in Visa Inc. (NYSE:V – Get Rating) by 1.6% in Q1, HoldingsChannel reports. The institutional investor owned 79,939 shares of the credit card processor after acquiring an additional 1,272 shares during the period. Visa represents approximately 3.2% of Dock Street Asset Management Inc.’s investment portfolio, making the stock its ninth largest holding. Dock Street Asset Management Inc.’s holdings in Visa were worth $17,728,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also increased or reduced their stakes in the company. Capital Advisors Wealth Management LLC increased its holdings in Visa by 0.4% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 10,563 shares of the credit card processor worth $2,289,000 after buying 45 additional shares during the period. Corbett Road Capital Management LLC increased its stake in Visa by 3.1% in the fourth quarter. Corbett Road Capital Management LLC now owns 1,486 shares of the credit card processor worth $322,000 after buying 45 additional shares during the period. IVC Wealth Advisors LLC increased its holdings in Visa by 0.8% in Q4. IVC Wealth Advisors LLC now owns 5,757 shares of the credit card processor worth $1,248,000 after buying 46 additional shares during the period. Financial Consulate Inc. increased its stake in Visa by 1.0% in the 4th quarter. Financial Consulate Inc. now owns 4,851 shares of the credit card processor worth $1,051,000 after purchasing 46 additional shares during the period. Finally, Tranquilli Financial Advisor LLC increased its stake in Visa shares by 3.1% in the 4th quarter. Tranquilli Financial Advisor LLC now owns 1,537 shares of the credit card processor valued at $333,000 after buying 46 additional shares during the period. Institutional investors and hedge funds hold 80.77% of the company’s shares.
A number of research analysts have commented on V shares recently. Cowen lowered its target price on Visa from $276.00 to $254.00 in a research note on Wednesday, April 27. Morgan Stanley raised its target price on Visa from $279.00 to $284.00 in a Wednesday, April 27 research note. Citigroup lowered its target price on Visa from $285.00 to $265.00 in a Monday, April 25 research note. Piper Sandler downgraded Visa from an “overweight” rating to a “neutral” rating and lowered its target price for the company from $283.00 to $239.00 in a Friday, April 29 research note. Finally, Evercore ISI raised its target price on Visa from $304.00 to $310.00 and gave the company an “outperform” rating in a Wednesday, April 27 research note. Five investment analysts gave the stock a hold rating and twenty-one gave the company a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $267.44.
Visa stock opened at $205.51 on Friday. The company has a market capitalization of $390.73 billion, a price-earnings ratio of 32.31, a PEG ratio of 1.67 and a beta of 0.90. The stock has a fifty-day simple moving average of $204.67 and a two-hundred-day simple moving average of $212.20. Visa Inc. has a 12-month minimum of $185.91 and a 12-month maximum of $252.67. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt ratio of 0.53.
Visa (NYSE:V – Get Rating) last released its results on Tuesday, April 26. The credit card processor reported EPS of $1.79 for the quarter, beating analyst consensus estimates of $1.65 by $0.14. The company posted revenue of $7.19 billion in the quarter, versus analyst estimates of $6.82 billion. Visa had a return on equity of 42.89% and a net margin of 51.10%. The company’s quarterly revenue increased by 25.5% compared to the same quarter last year. In the same quarter last year, the company achieved EPS of $1.38. On average, equity research analysts expect Visa Inc. to post EPS of 7.16 for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1. Investors of record on Friday, May 13 received a dividend of $0.375. This represents an annualized dividend of $1.50 and a dividend yield of 0.73%. The ex-dividend date was Thursday, May 12. Visa’s payout ratio is currently 23.58%.
In related news, Chairman Ryan Mcinerney sold 6,466 Visa shares in a trade on Monday, March 28. The stock was sold at an average price of $220.00, for a total value of $1,422,520.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, CEO Alfred F. Kelly, Jr. sold 9,000 Visa shares in a trade on Thursday, March 31. The shares were sold at an average price of $223.91, for a total value of $2,015,190.00. The disclosure of this sale can be found here. Insiders sold 39,933 shares of the company valued at $8,745,055 in the past ninety days. 0.21% of the shares are currently held by company insiders.
Visa Company Profile (Get a rating)
Visa Inc operates as a worldwide payment technology company. The company facilitates digital payments between consumers, merchants, financial institutions, businesses, strategic partners and government entities. It operates VisaNet, a transaction processing network that enables the authorization, clearing and settlement of payment transactions.
Further reading
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