Ashton Thomas Private Wealth LLC Acquires 2,199 Shares of Visa Inc. (NYSE:V)

Ashton Thomas Private Wealth LLC lifted its position in shares of Visa Inc. (NYSE:V) by 7.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,932 shares of the credit-card processor’s stock after purchasing an additional 2,199 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Visa were worth $8,912,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Livelsberger Financial Advisory purchased a new stake in Visa during the fourth quarter valued at $25,000. Westend Capital Management LLC bought a new position in shares of Visa in the first quarter worth about $25,000. O Brien Wealth Partners LLC bought a new position in shares of Visa in the fourth quarter worth about $32,000. Frank Rimerman Advisors LLC bought a new position in shares of Visa in the fourth quarter worth about $33,000. Finally, Valued Wealth Advisors LLC bought a new position in shares of Visa in the fourth quarter worth about $37,000. 82.15% of the stock is currently owned by institutional investors.

Visa Price Performance

Shares of Visa stock traded up $0.93 on Friday, hitting $269.92. The company had a trading volume of 1,544,432 shares, compared to its average volume of 6,778,043. The business has a 50-day simple moving average of $273.33 and a 200-day simple moving average of $273.62. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market cap of $493.67 billion, a PE ratio of 30.05, a PEG ratio of 1.84 and a beta of 0.95. Visa Inc. has a 52 week low of $227.68 and a 52 week high of $290.96.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating the consensus estimate of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The business had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same quarter in the prior year, the firm earned $2.09 EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. Research analysts expect that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Buying and Selling at Visa

In other news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction dated 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 approximately $713,950.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Paul D. Fabara sold 25,293 shares of Visa 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 sale, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Lloyd Carney sold 909 shares of Visa stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the sale, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on V. TD Cowen began coverage on Visa in a research report on Thursday, April 11th. They issued a “buy” rating and a $320.00 target price on the stock. Citigroup upped their price objective on Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Evercore ISI decreased their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Mizuho increased their price target on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Finally, Oppenheimer increased their price target on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $303.56.

Visa Company 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.