Simplicity Wealth LLC Boosts Position in Visa Inc. (NYSE:V)

Simplicity Wealth LLC boosted its holdings in shares of Visa Inc. (NYSE:V) by 122.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,575 shares of the credit-card processor’s stock after buying an additional 10,210 shares during the quarter. Simplicity Wealth LLC’s holdings in Visa were worth $6,510,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of V. Norges Bank purchased a new stake in Visa in the 4th quarter worth $5,171,271,000. GAMMA Investing LLC increased its holdings in Visa by 38,416.3% in the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock worth $5,173,271,000 after acquiring an additional 14,723,050 shares in the last quarter. Vanguard Group Inc. increased its holdings in Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Visa in the 4th quarter worth $1,955,403,000. Finally, Proficio Capital Partners LLC increased its holdings in Visa by 17,018.7% in the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock worth $1,248,079,000 after acquiring an additional 3,926,049 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Performance

V stock opened at $366.72 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm has a market cap of $676.66 billion, a P/E ratio of 36.97, a P/E/G ratio of 2.33 and a beta of 0.94. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $371.00. The stock’s 50 day simple moving average is $345.86 and its 200 day simple moving average is $336.28.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The business’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.51 EPS. As a group, equities research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.64%. Visa’s payout ratio is 23.72%.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel now owns 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider now owns 26,413 shares of the company’s stock, valued at $9,772,810. This trade represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,162 shares of company stock valued at $58,645,479. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on V. Citigroup began coverage on shares of Visa in a research note on Monday, June 2nd. They set a “buy” rating on the stock. The Goldman Sachs Group started coverage on shares of Visa in a research report on Monday, June 2nd. They set a “neutral” rating on the stock. Keefe, Bruyette & Woods restated a “hold” rating on shares of Visa in a report on Thursday, February 13th. BMO Capital Markets boosted their price target on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Finally, Wall Street Zen upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average price target of $372.80.

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.