Visa Inc. (NYSE:V) Shares Bought by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC grew its stake in shares of Visa Inc. (NYSE:V) by 6.6% during the first quarter, Holdings Channel reports. The firm owned 20,750 shares of the credit-card processor’s stock after purchasing an additional 1,285 shares during the period. Visa makes up approximately 0.8% of Lake Street Private Wealth LLC’s investment portfolio, making the stock its 27th largest position. Lake Street Private Wealth LLC’s holdings in Visa were worth $5,791,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. E&G Advisors LP raised its holdings in Visa by 2.3% during the first quarter. E&G Advisors LP now owns 7,556 shares of the credit-card processor’s stock worth $2,109,000 after purchasing an additional 169 shares in the last quarter. BluePath Capital Management LLC grew its position in shares of Visa by 22.1% during the first quarter. BluePath Capital Management LLC now owns 2,759 shares of the credit-card processor’s stock worth $770,000 after acquiring an additional 499 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new position in shares of Visa in the 1st quarter valued at $103,000. Leeward Financial Partners LLC raised its position in Visa by 5.7% in the 1st quarter. Leeward Financial Partners LLC now owns 13,782 shares of the credit-card processor’s stock valued at $3,846,000 after purchasing an additional 739 shares during the last quarter. Finally, KFG Wealth Management LLC boosted its stake in Visa by 13.2% during the 1st quarter. KFG Wealth Management LLC now owns 949 shares of the credit-card processor’s stock worth $265,000 after purchasing an additional 111 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Up 0.3 %

Shares of V opened at $268.99 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The firm’s 50-day moving average is $273.45 and its two-hundred day moving average is $273.65. Visa Inc. has a twelve month low of $227.68 and a twelve month high of $290.96. The firm 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.

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

Visa Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Citigroup lifted their price objective 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. Piper Sandler assumed coverage on shares of Visa in a research note on Monday, May 13th. They issued an “overweight” rating and a $322.00 price objective on the stock. Mizuho lifted their price objective on shares of Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Royal Bank of Canada lifted their price objective on shares of Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, Evercore ISI dropped their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Five equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $303.56.

Insider Activity at Visa

In related news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the transaction, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Visa news, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Lloyd Carney sold 909 shares of the 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 in the company, valued at approximately $713,950.05. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

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.