Salvus Wealth Management LLC Has $608,000 Position in Visa Inc. (NYSE:V)

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Salvus Wealth Management LLC raised its holdings in Visa Inc. (NYSE:VGet Rating) by 39.1% during the first quarter, HoldingsChannel reports. The firm owned 2,742 shares of the credit-card processor’s stock after acquiring an additional 771 shares during the quarter. Salvus Wealth Management LLC’s holdings in Visa were worth $608,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. New World Advisors LLC bought a new position in shares of Visa in the 3rd quarter valued at $457,000. EagleClaw Capital Managment LLC lifted its stake in shares of Visa by 1.8% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 22,687 shares of the credit-card processor’s stock valued at $5,054,000 after acquiring an additional 400 shares during the last quarter. Legacy Wealth Planning LLC lifted its stake in shares of Visa by 16.7% in the 3rd quarter. Legacy Wealth Planning LLC now owns 2,101 shares of the credit-card processor’s stock valued at $468,000 after acquiring an additional 300 shares during the last quarter. Tudor Investment Corp Et Al bought a new position in shares of Visa in the 3rd quarter valued at $654,000. Finally, Voloridge Investment Management LLC lifted its stake in shares of Visa by 1,233.7% in the 3rd quarter. Voloridge Investment Management LLC now owns 14,457 shares of the credit-card processor’s stock valued at $3,220,000 after acquiring an additional 13,373 shares during the last quarter. 80.77% of the stock is currently owned by hedge funds and other institutional investors.

V stock opened at $193.82 on Thursday. The company has a market capitalization of $368.51 billion, a P/E ratio of 30.47, a price-to-earnings-growth ratio of 1.62 and a beta of 0.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. Visa Inc. has a 52-week low of $185.91 and a 52-week high of $252.67. The business has a 50-day simple moving average of $205.14 and a two-hundred day simple moving average of $212.24.

Visa (NYSE:VGet Rating) last released its quarterly earnings results on Tuesday, April 26th. The credit-card processor reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.14. The business had revenue of $7.19 billion during the quarter, compared to the consensus estimate of $6.82 billion. Visa had a return on equity of 42.89% and a net margin of 51.10%. The company’s quarterly revenue was up 25.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.38 EPS. As a group, sell-side analysts forecast that Visa Inc. will post 7.16 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Friday, May 13th were given a dividend of $0.375 per share. The ex-dividend date 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%.

A number of research analysts have recently commented on V shares. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research note on Thursday, April 28th. Cowen lowered 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 assumed coverage on Visa in a research report on Tuesday, May 17th. They set a “buy” rating and a $282.00 target price for the company. Barclays lowered their target price on Visa from $265.00 to $260.00 and set an “overweight” rating for the company in a research report on Monday, April 4th. Finally, Evercore ISI raised their target price on Visa from $304.00 to $310.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 27th. Five investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $267.44.

In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of Visa stock in a transaction that occurred on Thursday, March 31st. The shares were sold at an average price of $223.91, for a total transaction of $2,015,190.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Ryan Mcinerney sold 6,466 shares of Visa stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $220.00, for a total transaction of $1,422,520.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,933 shares of company stock worth $8,745,055. Insiders own 0.21% of the company’s stock.

Visa Company Profile (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

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