Lakeshore Capital Group Inc. Reduces Holdings in Visa Inc. $V

Lakeshore Capital Group Inc. decreased its position in shares of Visa Inc. (NYSE:V) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,386 shares of the credit-card processor’s stock after selling 83 shares during the quarter. Visa makes up about 1.1% of Lakeshore Capital Group Inc.’s holdings, making the stock its 29th largest position. Lakeshore Capital Group Inc.’s holdings in Visa were worth $1,202,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Keystone Global Partners LLC purchased a new position in shares of Visa during the first quarter worth about $26,000. Family Legacy Financial Solutions LLC purchased a new position in shares of Visa during the second quarter worth about $28,000. von Borstel & Associates Inc. purchased a new position in shares of Visa during the first quarter worth about $27,000. Cranbrook Wealth Management LLC grew its holdings in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 41 shares during the last quarter. Finally, Westend Capital Management LLC grew its holdings in shares of Visa by 83.1% during the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor’s stock worth $38,000 after purchasing an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Visa Price Performance

Shares of NYSE:V opened at $343.63 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market cap of $629.79 billion, a P/E ratio of 33.56, a PEG ratio of 2.06 and a beta of 0.90. Visa Inc. has a 52 week low of $275.37 and a 52 week high of $375.51. The company has a 50-day moving average price of $343.77 and a 200 day moving average price of $346.97.

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

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is presently 23.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Oppenheimer increased their target price on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Macquarie increased their target price on shares of Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. UBS Group reiterated a “buy” rating and set a $415.00 target price (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Raymond James Financial reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $389.00.

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.