Agate Pass Investment Management LLC Acquires 86 Shares of Visa Inc. (NYSE:V)

Agate Pass Investment Management LLC raised its holdings in Visa Inc. (NYSE:V) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,270 shares of the credit-card processor’s stock after buying an additional 86 shares during the period. Agate Pass Investment Management LLC’s holdings in Visa were worth $1,847,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in V. Bradley & Co. Private Wealth Management LLC purchased a new stake in Visa in the 4th quarter valued at $27,000. POM Investment Strategies LLC grew its stake in shares of Visa by 48.5% in the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after acquiring an additional 32 shares in the last quarter. Compass Planning Associates Inc bought a new stake in shares of Visa in the 4th quarter worth $32,000. FPC Investment Advisory Inc. raised its holdings in shares of Visa by 377.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock valued at $36,000 after purchasing an additional 83 shares during the last quarter. Finally, NewSquare Capital LLC bought a new position in shares of Visa during the fourth quarter valued at about $35,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of V stock opened at $362.55 on Friday. The stock has a market capitalization of $668.96 billion, a P/E ratio of 36.55, a PEG ratio of 2.33 and a beta of 0.96. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm’s 50 day moving average is $342.99 and its 200 day moving average is $333.16. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $369.15.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. Visa’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.51 EPS. On average, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa’s payout ratio is currently 23.72%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on V shares. BMO Capital Markets upped their price objective on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. William Blair reaffirmed an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Visa in a report on Thursday, February 13th. Wall Street Zen raised Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Finally, Piper Sandler raised their target price on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Six equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $366.13.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 14,813 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $355.04, for a total value of $5,259,207.52. Following the sale, the insider now directly owns 26,413 shares in the company, valued at $9,377,671.52. This represents a 35.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm’s stock in a transaction on 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 now owns 11,925 shares in the company, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 121,948 shares of company stock worth $41,548,282. 0.13% of the stock is owned by corporate 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.