Retirement Planning Group LLC Makes New $223,000 Investment in Visa Inc. (NYSE:V)

Retirement Planning Group LLC purchased a new position in Visa Inc. (NYSE:V) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 799 shares of the credit-card processor’s stock, valued at approximately $223,000.

Several other hedge funds have also added to or reduced their stakes in the business. Livelsberger Financial Advisory bought a new position in shares of Visa during the fourth quarter valued at about $25,000. Westend Capital Management LLC bought a new position in shares of Visa during the first quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new position in shares of Visa during the fourth quarter valued at about $32,000. Frank Rimerman Advisors LLC bought a new position in shares of Visa during the fourth quarter valued at about $33,000. Finally, Valued Wealth Advisors LLC bought a new position in shares of Visa during the fourth quarter valued at about $37,000. 82.15% of the stock is owned by institutional investors.

Visa Trading Down 1.0 %

NYSE:V opened at $273.66 on Wednesday. Visa Inc. has a 52 week low of $226.02 and a 52 week high of $290.96. 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 company’s 50 day moving average price is $274.11 and its 200-day moving average price is $273.41. The stock has a market cap of $500.51 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 1.89 and a beta of 0.97.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, topping 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 company had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. During the same quarter last year, the company posted $2.09 earnings per share. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities research analysts forecast that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.76%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio is currently 23.24%.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lloyd Carney sold 909 shares of the 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 completion of the transaction, the director now owns 2,591 shares in the company, valued at $713,950.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,402 shares of company stock worth $9,559,382. 0.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on V. Oppenheimer upped their price objective on shares of Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Wedbush increased their price target on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. TD Cowen began coverage on shares of Visa in a research note on Thursday, April 11th. They issued a “buy” rating and a $320.00 price target for the company. Piper Sandler began coverage on shares of Visa in a research note on Monday, May 13th. They issued an “overweight” rating and a $322.00 price target for the company. Finally, UBS Group increased their price target on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research note 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.