Salvus Wealth Management LLC Acquires 771 Shares of Visa Inc. (NYSE:V)

Salvus Wealth Management LLC raised its holdings in Visa Inc. (NYSE:VGet Rating) by 39.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,742 shares of the credit-card processor’s stock after purchasing an additional 771 shares during the quarter. Salvus Wealth Management LLC’s holdings in Visa were worth $608,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Dynamic Advisor Solutions LLC raised its position in Visa by 15.6% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 26,513 shares of the credit-card processor’s stock valued at $5,880,000 after purchasing an additional 3,587 shares during the last quarter. Oakworth Capital Inc. raised its position in Visa by 16.2% in the 1st quarter. Oakworth Capital Inc. now owns 9,814 shares of the credit-card processor’s stock valued at $2,176,000 after purchasing an additional 1,368 shares during the last quarter. Veriti Management LLC raised its position in Visa by 6.1% in the 1st quarter. Veriti Management LLC now owns 31,320 shares of the credit-card processor’s stock valued at $6,946,000 after purchasing an additional 1,805 shares during the last quarter. Sanders Morris Harris LLC raised its position in Visa by 1.4% in the 1st quarter. Sanders Morris Harris LLC now owns 9,040 shares of the credit-card processor’s stock valued at $2,005,000 after purchasing an additional 125 shares during the last quarter. Finally, 360 Financial Inc. raised its position in Visa by 6.2% in the 1st quarter. 360 Financial Inc. now owns 3,810 shares of the credit-card processor’s stock valued at $868,000 after purchasing an additional 222 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the company’s stock in a transaction dated Friday, April 29th. The stock was sold at an average price of $218.62, for a total transaction of $1,967,580.00. Following the sale, the chief executive officer now owns 165,887 shares in the company, valued at $36,266,215.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Ryan Mcinerney sold 6,467 shares of the company’s stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $223.65, for a total value of $1,446,344.55. The disclosure for this sale can be found here. Insiders have sold 39,933 shares of company stock valued at $8,745,055 over the last ninety days. 0.21% of the stock is owned by insiders.

A number of equities research analysts have recently weighed in on V shares. Credit Suisse Group boosted their target price on Visa from $260.00 to $265.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 27th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Thursday, April 28th. Cowen dropped their target price on Visa from $276.00 to $254.00 and set an “outperform” rating for the company in a research report on Wednesday, April 27th. The Goldman Sachs Group started coverage on Visa in a research note on Tuesday, May 17th. They set a “buy” rating and a $282.00 price objective for the company. Finally, Barclays decreased their price objective on Visa from $265.00 to $260.00 and set an “overweight” rating for the company in a research note on Monday, April 4th. Five analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $267.44.

NYSE:V opened at $193.82 on Thursday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. The stock has a market cap of $368.51 billion, a price-to-earnings ratio of 30.47, a PEG ratio of 1.62 and a beta of 0.90. The stock has a 50-day moving average price of $205.14 and a two-hundred day moving average price of $212.24. Visa Inc. has a 1 year low of $185.91 and a 1 year high of $252.67.

Visa (NYSE:VGet Rating) last posted its quarterly earnings data on Tuesday, April 26th. The credit-card processor reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.14. The company had revenue of $7.19 billion during the quarter, compared to analysts’ expectations of $6.82 billion. Visa had a return on equity of 42.89% and a net margin of 51.10%. Visa’s revenue for the quarter was up 25.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.38 earnings per share. Sell-side analysts forecast that Visa Inc. will post 7.16 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, May 12th. This represents a $1.50 annualized dividend and a dividend yield of 0.77%. Visa’s dividend payout ratio is currently 23.58%.

About Visa (Get Rating)

Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

Further Reading

Institutional Ownership by Quarter for Visa (NYSE:V)

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