Tobias Financial Advisors Inc. has increased its stake in Visa Inc. (NYSE:V) by 37.6% during the second quarter of the year, acquiring an additional 991 shares according to its latest filing with the Securities and Exchange Commission (SEC). This brings Tobias Financial Advisors’ total holdings in the credit card processor to 3,629 shares, valued at approximately $1.288 million.
The investment landscape for Visa is shifting as other institutional investors are also adjusting their positions. For instance, Brighton Jones LLC expanded its holdings by 50.1% in the fourth quarter, now owning 20,635 shares worth $6.522 million after acquiring an additional 6,883 shares. Similarly, Revolve Wealth Partners LLC increased its stake by 68.9% during the same period, totaling 11,811 shares valued at $3.733 million.
Strategic Family Wealth Counselors L.L.C. and IFG Advisory LLC also reported increases in their Visa holdings by 2.1% and 3.4%, respectively. The former now holds 7,433 shares valued at $2.605 million, while the latter owns 4,679 shares worth $1.640 million. Notably, Fiduciary Wealth Partners LLC entered a new position in Visa during the first quarter, valued at approximately $85,000. Overall, institutional and hedge fund investors collectively own 82.15% of Visa’s shares.
Analysts Adjust Ratings and Price Targets
Visa’s stock has garnered attention from various analysts, prompting several adjustments in ratings and price targets. Raymond James Financial has reaffirmed its “outperform” rating, raising the target price to $408.00 from $398.00. Wells Fargo & Company upgraded Visa to a “strong-buy” rating, while Weiss Ratings maintained a “buy (B)” rating. KeyCorp also reiterated an “overweight” rating, setting a price target of $405.00.
Robert W. Baird has set an ambitious target of $425.00. The consensus among analysts indicates a strong outlook for Visa, with four research analysts rating the stock as a Strong Buy, seventeen as Buy, and five as Hold. According to MarketBeat, the average rating is “Moderate Buy” with a consensus target price of $400.00.
Visa’s Market Performance and Quarterly Earnings
As of the last trading session, Visa shares opened at $334.67. The company boasts a market capitalization of $609.67 billion, with a price-to-earnings (P/E) ratio of 32.78. The stock has been trading within a 52-week range, hitting a low of $299.00 and a high of $375.51.
Visa recently announced its quarterly earnings for the period ending October 28, revealing earnings per share (EPS) of $2.98, slightly surpassing the consensus estimate of $2.97. Revenue for the quarter reached $10.72 billion, exceeding expectations of $10.60 billion. The company’s revenue represented an 11.5% increase compared to the same quarter last year, with Visa recording a return on equity of 60.31% and a net margin of 50.15%.
Additionally, Visa announced an increase in its quarterly dividend, which will be paid on December 1. Shareholders on record as of November 12 will receive a dividend of $0.67 per share, reflecting an annualized dividend of $2.68 and a yield of 0.8%. This marks a positive change from its previous quarterly dividend of $0.59.
Insider Transactions and Corporate Activity
In related news, insider activity has been notable as well. Director Lloyd Carney sold 900 shares on November 4 at an average price of $336.48, totaling $302,832. Following this transaction, he retains 2,468 shares valued at approximately $830,432.64. Additionally, insider Paul D. Fabara sold 2,172 shares on November 21 for a total of $707,919.96, reducing his holdings to 26,413 shares valued at about $8,608,789.09.
Over the past ninety days, insiders have sold a total of 24,042 shares worth approximately $8.175 million. Currently, corporate insiders hold 0.13% of Visa’s stock.
Visa Inc. operates as a leading payment technology company, offering a range of services including credit, debit, and prepaid card products, as well as various payment solutions globally. The company continues to strengthen its position in the market with strategic investments and robust financial performance.
