Visa Inc. (NYSE:V) Shares Bought by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV grew its holdings in shares of Visa Inc. (NYSE:V) by 1.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,989 shares of the credit-card processor’s stock after acquiring an additional 378 shares during the period. Visa comprises about 1.0% of Azzad Asset Management Inc. ADV’s investment portfolio, making the stock its 8th biggest holding. Azzad Asset Management Inc. ADV’s holdings in Visa were worth $8,648,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Livelsberger Financial Advisory acquired a new position in Visa in the fourth quarter worth about $25,000. Westend Capital Management LLC acquired a new position in Visa in the first quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new position in Visa in the fourth quarter worth about $32,000. Frank Rimerman Advisors LLC acquired a new position in Visa in the fourth quarter worth about $33,000. Finally, Valued Wealth Advisors LLC acquired a new position in Visa in the fourth quarter worth about $37,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Performance

V opened at $268.73 on Thursday. The business’s 50 day moving average is $273.58 and its 200-day moving average is $273.69. The stock has a market cap of $491.49 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 1.84 and a beta of 0.95. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a twelve month low of $227.68 and a twelve month high of $290.96.

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

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.77%. Visa’s payout ratio is 23.24%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on V. Mizuho lifted their price target on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Macquarie lifted their price target on Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Robert W. Baird lifted their target price on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. William Blair restated an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Finally, Wedbush lifted their target price on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Five 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $303.56.

Insider Buying and Selling

In related news, Director Lloyd Carney sold 909 shares of the business’s 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 $713,950.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Visa news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the transaction, the director now owns 2,591 shares in the company, valued at $713,950.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction that occurred on Wednesday, May 15th. The stock was 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 owns 17,894 shares in the company, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

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.