Strategic Financial Concepts LLC Boosts Stock Position in Visa Inc. (NYSE:V)

Strategic Financial Concepts LLC increased its stake in shares of Visa Inc. (NYSE:V) by 63.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,590 shares of the credit-card processor’s stock after purchasing an additional 1,390 shares during the period. Strategic Financial Concepts LLC’s holdings in Visa were worth $1,002,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Altshuler Shaham Ltd acquired a new stake in shares of Visa in the third quarter valued at approximately $25,000. Livelsberger Financial Advisory acquired a new stake in shares of Visa in the 4th quarter worth $25,000. Westend Capital Management LLC purchased a new position in shares of Visa during the 1st quarter worth $25,000. O Brien Wealth Partners LLC acquired a new position in shares of Visa during the 4th quarter valued at about $32,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in shares of Visa in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Mizuho reiterated a “neutral” rating and issued a $265.00 price objective on shares of Visa in a report on Wednesday, March 27th. TD Cowen began coverage on Visa in a research report on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective for the company. KeyCorp boosted their price target on shares of Visa from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, January 8th. Wedbush increased their price objective on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, Oppenheimer lifted their target price on shares of Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $302.58.

Insider Buying and Selling

In other Visa news, CAO Peter M. Andreski sold 2,615 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the sale, the chief accounting officer now directly owns 4,898 shares in the company, valued at $1,365,954.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Visa news, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total value of $729,271.20. Following the sale, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction 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 disclosure for this sale can be found here. Insiders have sold 19,874 shares of company stock valued at $5,506,827 over the last quarter. Company insiders own 0.19% of the company’s stock.

Visa Stock Performance

NYSE:V traded down $3.20 during trading hours on Tuesday, reaching $268.64. 6,375,486 shares of the company’s stock were exchanged, compared to its average volume of 5,935,847. Visa Inc. has a 1-year low of $216.14 and a 1-year 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. The firm has a market capitalization of $493.36 billion, a price-to-earnings ratio of 30.02, a P/E/G ratio of 1.89 and a beta of 0.96. The company has a 50-day moving average of $278.98 and a 200 day moving average of $265.19.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.08. The firm had revenue of $8.78 billion during the quarter, compared to the consensus estimate 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 earnings per share. Research analysts anticipate that Visa Inc. will post 9.89 EPS for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be paid a $0.52 dividend. The ex-dividend date of this dividend is 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 (DPR) is presently 23.24%.

Visa Company 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.