Berry Wealth Group LP Invests $842,000 in Visa Inc. (NYSE:V)

Berry Wealth Group LP purchased a new position in shares of Visa Inc. (NYSE:V) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 3,234 shares of the credit-card processor’s stock, valued at approximately $842,000. Visa accounts for approximately 0.8% of Berry Wealth Group LP’s holdings, making the stock its 27th largest position.

Other hedge funds have also made changes to their positions in the company. Trifecta Capital Advisors LLC increased its stake in shares of Visa by 2.7% during the third quarter. Trifecta Capital Advisors LLC now owns 20,176 shares of the credit-card processor’s stock worth $4,641,000 after buying an additional 536 shares during the period. Zullo Investment Group Inc. increased its stake in shares of Visa by 1.8% during the third quarter. Zullo Investment Group Inc. now owns 6,997 shares of the credit-card processor’s stock worth $1,609,000 after buying an additional 122 shares during the period. Walkner Condon Financial Advisors LLC increased its stake in Visa by 6.9% in the third quarter. Walkner Condon Financial Advisors LLC now owns 1,024 shares of the credit-card processor’s stock valued at $236,000 after purchasing an additional 66 shares during the last quarter. FOCUS Wealth Advisors LLC increased its stake in Visa by 2.9% in the third quarter. FOCUS Wealth Advisors LLC now owns 6,852 shares of the credit-card processor’s stock valued at $1,576,000 after purchasing an additional 195 shares during the last quarter. Finally, MCF Advisors LLC increased its stake in Visa by 3.4% in the third quarter. MCF Advisors LLC now owns 9,364 shares of the credit-card processor’s stock valued at $2,154,000 after purchasing an additional 310 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on V shares. Robert W. Baird increased their price target on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. TD Cowen started coverage on shares of Visa in a research note on Thursday, April 11th. They issued a “buy” rating and a $320.00 price target on the stock. KeyCorp increased their price target on shares of Visa from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, January 8th. Susquehanna increased their price target on shares of Visa from $300.00 to $326.00 and gave the company a “positive” rating in a research note on Friday, January 26th. Finally, Evercore ISI increased their price target on shares of Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Five equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $302.58.

Visa Price Performance

Visa stock traded up $0.30 during midday trading on Wednesday, reaching $268.91. 2,182,786 shares of the company were exchanged, compared to its average volume of 5,889,257. The company has a market capitalization of $493.86 billion, a price-to-earnings ratio of 30.11, a P/E/G ratio of 1.87 and a beta of 0.96. The firm’s 50-day simple moving average is $278.98 and its 200-day simple moving average is $265.19. Visa Inc. has a 1 year low of $216.14 and a 1 year 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 posted its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating the consensus estimate of $2.43 by $0.08. The company had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.09 EPS. On average, analysts anticipate that Visa Inc. will post 9.9 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.77%. The ex-dividend date is Thursday, May 16th. Visa’s dividend payout ratio (DPR) is 23.24%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $273.39, for a total value of $2,228,128.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,150 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total value of $2,228,128.50. The disclosure for this sale can be found here. Insiders sold 19,874 shares of company stock worth $5,506,827 in the last 90 days. 0.19% of the stock is owned by company insiders.

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.