Beirne Wealth Consulting Services LLC Reduces Stock Position in Visa Inc. $V

Beirne Wealth Consulting Services LLC lessened its stake in shares of Visa Inc. (NYSE:VFree Report) by 62.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,471 shares of the credit-card processor’s stock after selling 2,406 shares during the quarter. Beirne Wealth Consulting Services LLC’s holdings in Visa were worth $516,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sonoma Allocations LLC acquired a new position in shares of Visa in the 3rd quarter valued at about $710,000. Invariant Investment Management acquired a new position in shares of Visa in the 4th quarter valued at about $969,000. Vanguard Group Inc. lifted its position in Visa by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock worth $56,455,834,000 after acquiring an additional 1,054,343 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in Visa by 2.6% in the 3rd 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 acquiring an additional 14,581 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in Visa by 24.1% in the 3rd quarter. Federated Hermes Inc. now owns 823,262 shares of the credit-card processor’s stock worth $281,045,000 after acquiring an additional 159,906 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Key Visa News

Here are the key news stories impacting Visa this week:

Wall Street Analyst Weigh In

V has been the subject of a number of analyst reports. Weiss Ratings cut Visa from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, April 16th. Truist Financial decreased their price target on Visa from $372.00 to $361.00 and set a “buy” rating for the company in a report on Friday, April 24th. Morgan Stanley restated an “overweight” rating and issued a $411.00 price target (up from $398.00) on shares of Visa in a report on Friday, January 30th. Rothschild & Co Redburn set a $385.00 price target on Visa in a report on Wednesday, January 28th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $395.00 price target on shares of Visa in a report on Friday, January 30th. Seven equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Visa presently has an average rating of “Buy” and a consensus price target of $387.79.

Check Out Our Latest Stock Report on V

Visa Stock Performance

Shares of V opened at $309.34 on Wednesday. The business’s 50 day moving average is $309.59 and its two-hundred day moving average is $327.33. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $375.51. The firm has a market cap of $561.51 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 1.78 and a beta of 0.80. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.51.

Visa (NYSE:VGet Free Report) last announced its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.21. Visa had a return on equity of 61.74% and a net margin of 50.23%.The company had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.74 billion. During the same period in the prior year, the company posted $2.76 EPS. Visa’s quarterly revenue was up 17.1% on a year-over-year basis. Analysts forecast that Visa Inc. will post 12.84 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, May 12th. Visa’s payout ratio is 25.14%.

Visa announced that its Board of Directors has initiated a stock repurchase program on Tuesday, April 28th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the credit-card processor to purchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Visa

In other news, Director Lloyd Carney sold 650 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total value of $201,253.00. Following the completion of the sale, the director owned 2,679 shares in the company, valued at $829,471.98. This represents a 19.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.12% of the stock is currently owned by company insiders.

Visa Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Visa (NYSE:V)

Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.