Visa Inc. (NYSE:V) Shares Acquired by West Family Investments Inc.

West Family Investments Inc. increased its position in Visa Inc. (NYSE:V) by 2.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,763 shares of the credit-card processor’s stock after buying an additional 159 shares during the quarter. Visa comprises about 0.8% of West Family Investments Inc.’s investment portfolio, making the stock its 20th biggest position. West Family Investments Inc.’s holdings in Visa were worth $2,020,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lakeridge Wealth Management LLC increased its holdings in Visa by 5.7% in the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor’s stock valued at $528,000 after purchasing an additional 81 shares in the last quarter. Blue Rock Wealth Management LLC purchased a new stake in shares of Visa in the fourth quarter worth about $306,000. Aptus Capital Advisors LLC grew its stake in shares of Visa by 19.8% in the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock valued at $57,727,000 after buying an additional 30,185 shares in the last quarter. Eagle Strategies LLC raised its holdings in shares of Visa by 2.5% during the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock valued at $811,000 after buying an additional 63 shares during the period. Finally, Rafferty Asset Management LLC lifted its position in Visa by 7.7% during the 4th quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor’s stock worth $192,948,000 after acquiring an additional 43,546 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the business’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,108 shares of company stock worth $36,771,200. 0.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on V. UBS Group increased their price objective on shares of Visa from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Macquarie lowered their price target on shares of Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Jefferies Financial Group boosted their price objective on shares of Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a report on Tuesday, May 27th. Truist Financial assumed coverage on Visa in a research report on Monday, June 2nd. They set a “buy” rating and a $400.00 target price on the stock. Finally, Piper Sandler boosted their price target on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $372.84.

Visa Stock Down 1.0%

Shares of Visa stock opened at $347.09 on Wednesday. The stock has a market capitalization of $640.43 billion, a price-to-earnings ratio of 34.88, a PEG ratio of 2.38 and a beta of 0.92. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The business’s 50 day simple moving average is $356.94 and its 200-day simple moving average is $343.11.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the prior year, the firm earned $2.51 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. Equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is 23.72%.

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.