Kovack Advisors Inc. Has $1.38 Million Stock Holdings in Visa Inc. (NYSE:V)

Kovack Advisors Inc. lessened its position in Visa Inc. (NYSE:V) by 10.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,931 shares of the credit-card processor’s stock after selling 594 shares during the quarter. Kovack Advisors Inc.’s holdings in Visa were worth $1,376,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in V. Massachusetts Wealth Management acquired a new position in shares of Visa during the 1st quarter worth about $240,000. Fluent Financial LLC increased its position in Visa by 0.6% during the first quarter. Fluent Financial LLC now owns 7,635 shares of the credit-card processor’s stock worth $2,131,000 after buying an additional 42 shares during the last quarter. Arcus Capital Partners LLC acquired a new position in Visa during the first quarter worth approximately $826,000. Madrona Financial Services LLC bought a new stake in Visa in the first quarter valued at approximately $285,000. Finally, Westside Investment Management Inc. lifted its position in shares of Visa by 13.5% in the first quarter. Westside Investment Management Inc. now owns 758 shares of the credit-card processor’s stock valued at $212,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction 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 sale, the insider now directly 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 is available through this link. In related news, Director Lloyd Carney sold 909 shares of the 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 completion of the transaction, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on V. Wedbush boosted their target price on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Piper Sandler began coverage on shares of Visa in a report on Monday, May 13th. They issued an “overweight” rating and a $322.00 price objective on the stock. Redburn Atlantic reissued a “neutral” rating and issued a $307.00 price objective on shares of Visa in a research report on Wednesday, March 27th. TD Cowen assumed coverage on shares of Visa in a report on Thursday, April 11th. They set a “buy” rating and a $320.00 target price for the company. Finally, Citigroup upped their price target on shares of Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $303.56.

Visa Stock Up 0.3 %

Shares of NYSE V opened at $268.99 on Friday. The stock has a market capitalization of $491.97 billion, a P/E ratio of 30.05, a PEG ratio of 1.84 and a beta of 0.95. The stock’s fifty day moving average is $273.45 and its 200 day moving average is $273.65. Visa Inc. has a 52 week low of $227.68 and a 52 week high of $290.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The firm had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.09 earnings per share. Sell-side analysts forecast that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

About Visa

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.