Wealthedge Investment Advisors LLC Purchases 5,243 Shares of Visa Inc. $V

Wealthedge Investment Advisors LLC raised its stake in shares of Visa Inc. (NYSE:V) by 212.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,710 shares of the credit-card processor’s stock after acquiring an additional 5,243 shares during the period. Wealthedge Investment Advisors LLC’s holdings in Visa were worth $2,632,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Sonoma Allocations LLC bought a new position in Visa during the third quarter valued at $710,000. AQR Capital Management LLC grew its position in Visa by 1.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,241,348 shares of the credit-card processor’s stock valued at $438,196,000 after acquiring an additional 21,401 shares during the last quarter. Baltimore Washington Financial Advisors Inc. increased its stake in Visa by 5.9% in the second quarter. Baltimore Washington Financial Advisors Inc. now owns 95,150 shares of the credit-card processor’s stock worth $33,783,000 after purchasing an additional 5,295 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of Visa by 2.6% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 574,043 shares of the credit-card processor’s stock worth $198,596,000 after purchasing an additional 14,581 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Visa by 24.1% during the third quarter. Federated Hermes Inc. now owns 823,262 shares of the credit-card processor’s stock valued at $281,045,000 after purchasing an additional 159,906 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

V has been the subject of a number of research analyst reports. Rothschild & Co Redburn set a $385.00 price objective on shares of Visa in a report on Wednesday, January 28th. Piper Sandler set a $160.00 price target on shares of Visa in a research note on Wednesday, January 28th. Macquarie Infrastructure reissued an “outperform” rating and issued a $410.00 price objective on shares of Visa in a research note on Friday, January 30th. Cantor Fitzgerald raised Visa to a “strong-buy” rating in a research report on Tuesday, January 27th. Finally, HSBC upgraded Visa from a “hold” rating to a “strong-buy” rating in a report on Monday, December 8th. Seven analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $391.43.

Visa Price Performance

Shares of V stock opened at $319.07 on Friday. The company has a market cap of $579.17 billion, a P/E ratio of 29.93, a PEG ratio of 1.81 and a beta of 0.79. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.11. The stock’s 50-day moving average is $333.00 and its 200 day moving average is $338.12. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $3.14 by $0.03. The firm had revenue of $10.90 billion during the quarter, compared to analysts’ expectations of $10.69 billion. Visa had a return on equity of 61.74% and a net margin of 50.23%.The business’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.75 EPS. Research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio is currently 25.14%.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total value of $3,661,152.30. Following the transaction, the chief executive officer owned 9,401 shares in the company, valued at approximately $3,282,641.18. This represents a 52.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.12% of the company’s stock.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.