Visa Inc. (NYSE:V) Shares Acquired by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC lifted its stake in shares of Visa Inc. (NYSE:V) by 12.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,383 shares of the credit-card processor’s stock after buying an additional 2,742 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Visa were worth $6,805,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in V. Ameriprise Financial Inc. lifted its stake in Visa by 2.7% in the third quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock valued at $3,272,846,000 after buying an additional 374,489 shares during the last quarter. Altarock Partners LLC raised its stake in shares of Visa by 4.9% during the third quarter. Altarock Partners LLC now owns 2,078,020 shares of the credit-card processor’s stock valued at $477,965,000 after purchasing an additional 96,744 shares in the last quarter. Alps Advisors Inc. raised its stake in shares of Visa by 76.7% during the third quarter. Alps Advisors Inc. now owns 114,241 shares of the credit-card processor’s stock valued at $26,277,000 after purchasing an additional 49,598 shares in the last quarter. 140 Summer Partners LP raised its stake in shares of Visa by 12.6% during the third quarter. 140 Summer Partners LP now owns 242,100 shares of the credit-card processor’s stock valued at $55,685,000 after purchasing an additional 27,100 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its stake in shares of Visa by 1.3% during the third quarter. Evergreen Capital Management LLC now owns 19,789 shares of the credit-card processor’s stock valued at $4,552,000 after purchasing an additional 251 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

In other news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of 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. 0.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on V shares. UBS Group lifted their target price on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Wells Fargo & Company lifted their price target on Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. William Blair reissued an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Robert W. Baird lifted their price target on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Finally, Piper Sandler began coverage on Visa in a research note on Monday, May 13th. They issued an “overweight” rating and a $322.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, Visa has an average rating of “Moderate Buy” and an average target price of $303.56.

Visa Price Performance

NYSE:V traded up $0.77 during mid-day trading on Monday, reaching $263.24. 7,874,674 shares of the company were exchanged, compared to its average volume of 6,817,989. Visa Inc. has a 12 month low of $227.68 and a 12 month high of $290.96. The company has a fifty day moving average of $273.88 and a 200 day moving average of $273.58. 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 stock has a market cap of $481.45 billion, a PE ratio of 29.36, a PEG ratio of 1.80 and a beta of 0.95.

Visa (NYSE:V) last released its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. During the same period in the prior year, the company posted $2.09 EPS. The company’s revenue was up 9.9% compared to the same quarter last year. On average, research analysts anticipate that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.79%. Visa’s payout ratio is 23.24%.

Visa 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.