Lake Street Private Wealth LLC Sells 78 Shares of Visa Inc. (NYSE:V)

Lake Street Private Wealth LLC lowered its position in shares of Visa Inc. (NYSE:V) by 0.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,026 shares of the credit-card processor’s stock after selling 78 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Visa were worth $4,565,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Bradley & Co. Private Wealth Management LLC acquired a new position in Visa in the fourth quarter valued at about $27,000. POM Investment Strategies LLC boosted its position in Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after buying an additional 32 shares during the period. Compass Planning Associates Inc bought a new stake in Visa in the fourth quarter valued at approximately $32,000. NewSquare Capital LLC bought a new stake in Visa in the fourth quarter valued at approximately $35,000. Finally, FPC Investment Advisory Inc. boosted its holdings in 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 acquiring an additional 83 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel now directly owns 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $340.41, for a total value of $13,395,133.50. Following the transaction, the insider now owns 26,413 shares of the company’s stock, valued at $8,991,249.33. The trade was a 59.84% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,948 shares of company stock worth $41,546,299. 0.13% of the stock is currently owned by insiders.

Visa Stock Performance

NYSE:V opened at $368.04 on Thursday. The stock has a market cap of $679.09 billion, a P/E ratio of 37.10, a PEG ratio of 2.33 and a beta of 0.96. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $371.75. The business’s 50-day moving average price is $344.66 and its two-hundred day moving average price is $334.72.

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

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.64%. Visa’s payout ratio is 23.72%.

Analysts Set New Price Targets

V has been the topic of several recent analyst reports. Macquarie dropped their price target on Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. William Blair reaffirmed an “outperform” rating on shares of Visa in a research report on Wednesday, April 30th. Jefferies Financial Group increased their price target on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. BMO Capital Markets upped their price objective on Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Finally, Piper Sandler upped their price objective on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Six equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $367.48.

Visa Company 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.