BridgePort Financial Solutions LLC Buys 1,821 Shares of Visa Inc. $V

BridgePort Financial Solutions LLC boosted its stake in shares of Visa Inc. (NYSE:V) by 92.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,795 shares of the credit-card processor’s stock after buying an additional 1,821 shares during the quarter. BridgePort Financial Solutions LLC’s holdings in Visa were worth $1,296,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after purchasing an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after buying an additional 4,817 shares during the period. Nicholas Hoffman & Company LLC. increased its stake in shares of Visa by 4.6% during the first quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock valued at $3,834,000 after buying an additional 477 shares during the period. Trifecta Capital Advisors LLC raised its holdings in shares of Visa by 12.3% in the second quarter. Trifecta Capital Advisors LLC now owns 25,691 shares of the credit-card processor’s stock valued at $9,122,000 after acquiring an additional 2,809 shares in the last quarter. Finally, Cohen Investment Advisors LLC lifted its stake in Visa by 1.2% in the second quarter. Cohen Investment Advisors LLC now owns 13,512 shares of the credit-card processor’s stock worth $4,797,000 after acquiring an additional 166 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Performance

Shares of NYSE V opened at $325.48 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51. The company has a 50 day simple moving average of $338.40 and a two-hundred day simple moving average of $340.57. The stock has a market cap of $590.80 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 1.90 and a beta of 0.79.

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

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th will be given a dividend of $0.67 per share. The ex-dividend date 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 (DPR) is 25.14%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Robert W. Baird set a $425.00 target price on shares of Visa in a research report on Wednesday, October 29th. Truist Financial set a $374.00 price objective on shares of Visa in a research note on Tuesday, January 20th. Citigroup raised shares of Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Macquarie Infrastructure restated an “outperform” rating and set a $410.00 target price on shares of Visa in a report on Friday, January 30th. Finally, KeyCorp reiterated an “overweight” rating and issued a $405.00 price target on shares of Visa in a report on Wednesday, October 22nd. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $392.29.

Insider Activity

In related news, insider Paul D. Fabara sold 2,172 shares of Visa stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the transaction, the insider owned 26,413 shares in the company, valued at $8,608,789.09. The trade was a 7.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was 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 $3,282,641.18. This represents a 52.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is owned by insiders.

Visa Profile

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.