Aprio Wealth Management LLC Has $2.10 Million Stake in Visa Inc. (NYSE:V)

Aprio Wealth Management LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 32.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,636 shares of the credit-card processor’s stock after acquiring an additional 1,639 shares during the period. Aprio Wealth Management LLC’s holdings in Visa were worth $2,097,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Custom Index Systems LLC bought a new stake in shares of Visa during the third quarter valued at approximately $731,000. Copley Financial Group Inc. bought a new position in Visa in the 3rd quarter valued at $616,000. FORA Capital LLC acquired a new stake in shares of Visa in the 3rd quarter valued at $7,987,000. Chicago Capital LLC raised its position in shares of Visa by 5.2% during the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after acquiring an additional 20,023 shares during the last quarter. Finally, Nexus Investment Management ULC lifted its stake in shares of Visa by 5,034.0% during the third quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor’s stock valued at $15,499,000 after acquiring an additional 55,273 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

NYSE V opened at $307.71 on Monday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $321.61. The firm’s 50 day moving average is $312.14 and its 200-day moving average is $287.04. The company has a market capitalization of $573.23 billion, a PE ratio of 31.62, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the business earned $2.33 EPS. The company’s revenue was up 11.7% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post 11.23 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.77%. Visa’s dividend payout ratio is 24.25%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Mizuho boosted their price objective on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. BMO Capital Markets increased their price objective on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Oppenheimer raised their price objective on shares of Visa from $321.00 to $375.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Citigroup increased their price target on Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler lifted their price objective on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $330.85.

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

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.