Abich Financial Wealth Management LLC Increases Stock Holdings in Visa Inc. (NYSE:V)

Abich Financial Wealth Management LLC lifted its position in shares of Visa Inc. (NYSE:V) by 52.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 133 shares of the credit-card processor’s stock after buying an additional 46 shares during the quarter. Abich Financial Wealth Management LLC’s holdings in Visa were worth $37,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Werba Rubin Papier Wealth Management lifted its stake in shares of Visa by 20.4% during the fourth quarter. Werba Rubin Papier Wealth Management now owns 4,778 shares of the credit-card processor’s stock valued at $1,244,000 after buying an additional 810 shares during the period. Holland Advisory Services Inc. purchased a new position in Visa during the fourth quarter worth about $215,000. Princeton Global Asset Management LLC boosted its stake in Visa by 2.5% in the 4th quarter. Princeton Global Asset Management LLC now owns 24,865 shares of the credit-card processor’s stock worth $6,474,000 after buying an additional 612 shares during the last quarter. State of Michigan Retirement System grew its holdings in Visa by 1.1% in the 4th quarter. State of Michigan Retirement System now owns 588,623 shares of the credit-card processor’s stock valued at $153,248,000 after buying an additional 6,300 shares during the period. Finally, Welch Group LLC increased its stake in shares of Visa by 1.2% during the 4th quarter. Welch Group LLC now owns 24,334 shares of the credit-card processor’s stock valued at $6,335,000 after acquiring an additional 284 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

V has been the topic of a number of research analyst reports. Bank of America reiterated a “neutral” rating and issued a $297.00 target price (down previously from $305.00) on shares of Visa in a report on Wednesday, July 10th. Robert W. Baird raised their price target on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Macquarie reiterated an “outperform” rating and set a $300.00 price objective on shares of Visa in a research note on Wednesday, July 24th. Wedbush increased their price objective on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, Morgan Stanley decreased their price target on shares of Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $307.25.

Visa Price Performance

NYSE V traded up $0.65 on Friday, reaching $266.58. The company’s stock had a trading volume of 7,017,857 shares, compared to its average volume of 7,476,283. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $290.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The firm’s 50 day moving average is $268.91 and its two-hundred day moving average is $274.31. The stock has a market cap of $487.56 billion, a PE ratio of 29.79, a PEG ratio of 1.88 and a beta of 0.95.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.16 EPS. As a group, sell-side analysts predict that Visa Inc. will post 9.91 EPS for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s payout ratio is 23.24%.

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.