Luts & Greenleigh Group Inc. Purchases 41 Shares of Visa Inc. $V

Luts & Greenleigh Group Inc. increased its position in shares of Visa Inc. (NYSE:V) by 2.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,741 shares of the credit-card processor’s stock after acquiring an additional 41 shares during the quarter. Luts & Greenleigh Group Inc.’s holdings in Visa were worth $610,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FWL Investment Management LLC grew its stake in shares of Visa by 0.5% during the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor’s stock worth $2,005,000 after purchasing an additional 29 shares during the period. Yeomans Consulting Group Inc. lifted its position in shares of Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock valued at $360,000 after buying an additional 29 shares in the last quarter. Semus Wealth Partners LLC lifted its position in shares of Visa by 0.8% during the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock valued at $1,209,000 after buying an additional 29 shares in the last quarter. Capstone Financial Advisors Inc. lifted its position in shares of Visa by 3.6% during the 4th quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor’s stock valued at $276,000 after buying an additional 30 shares in the last quarter. Finally, Headinvest LLC lifted its position in shares of Visa by 0.8% during the 4th quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor’s stock valued at $1,265,000 after buying an additional 30 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on V. Macquarie increased their target price on Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Barclays restated an “overweight” rating and issued a $408.00 price objective (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. BMO Capital Markets raised their price objective on Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. The Goldman Sachs Group initiated coverage on Visa in a report on Monday, June 2nd. They issued a “neutral” rating on the stock. Finally, Citigroup initiated coverage on Visa in a research note on Monday, June 2nd. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $380.84.

Visa Price Performance

Shares of NYSE:V opened at $342.51 on Wednesday. Visa Inc. has a fifty-two week low of $265.31 and a fifty-two week high of $375.51. The business has a 50-day moving average of $349.13 and a two-hundred day moving average of $347.41. The stock has a market capitalization of $627.75 billion, a P/E ratio of 33.45, a P/E/G ratio of 2.28 and a beta of 0.94. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter in the previous year, the firm earned $2.42 EPS. The firm’s revenue was up 14.3% compared to the same quarter last year. On average, equities research analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, August 12th. Visa’s dividend payout ratio is currently 23.05%.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the sale, the insider owned 26,413 shares in the company, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,127 shares of company stock worth $28,340,553. Company insiders own 0.13% 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.