Visa Inc. (NYSE:V) is Shorepath Capital Management LLC’s 5th Largest Position

Shorepath Capital Management LLC decreased its position in Visa Inc. (NYSE:V) by 3.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,375 shares of the credit-card processor’s stock after selling 887 shares during the period. Visa accounts for about 6.7% of Shorepath Capital Management LLC’s investment portfolio, making the stock its 5th biggest position. Shorepath Capital Management LLC’s holdings in Visa were worth $8,893,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Courier Capital LLC lifted its holdings in Visa by 1.7% during the first quarter. Courier Capital LLC now owns 39,666 shares of the credit-card processor’s stock worth $13,901,000 after buying an additional 652 shares during the period. Wesbanco Bank Inc. lifted its holdings in Visa by 4.3% during the first quarter. Wesbanco Bank Inc. now owns 8,349 shares of the credit-card processor’s stock worth $2,926,000 after buying an additional 342 shares during the period. McDonough Capital Management Inc lifted its holdings in Visa by 0.6% during the first quarter. McDonough Capital Management Inc now owns 25,064 shares of the credit-card processor’s stock worth $8,784,000 after buying an additional 146 shares during the period. First Citizens Bank & Trust Co. lifted its holdings in Visa by 2.2% during the first quarter. First Citizens Bank & Trust Co. now owns 64,958 shares of the credit-card processor’s stock worth $22,765,000 after buying an additional 1,384 shares during the period. Finally, McCarthy & Cox lifted its holdings in shares of Visa by 2.7% during the 1st quarter. McCarthy & Cox now owns 1,166 shares of the credit-card processor’s stock valued at $409,000 after purchasing an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 1.0%

V stock opened at $370.44 on Monday. Visa Inc. has a one year low of $252.70 and a one year high of $371.83. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The firm’s 50 day moving average price is $345.45 and its 200-day moving average price is $335.88. The firm has a market cap of $683.52 billion, a PE ratio of 37.34, a PEG ratio of 2.33 and a beta of 0.94.

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

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a $0.59 dividend. 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 dividend payout ratio (DPR) is presently 23.72%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on V shares. Truist Financial started coverage on Visa in a report on Monday, June 2nd. They set a “buy” rating and a $400.00 price objective for the company. Jefferies Financial Group increased their price objective on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. BMO Capital Markets increased 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. UBS Group raised their target price on Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Wednesday, May 28th. Finally, Evercore ISI began coverage on Visa in a research note on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 target price for the company. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average price target of $372.80.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider now owns 26,413 shares in the company, valued at $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the completion of the transaction, the chief executive officer now owns 537 shares of the company’s stock, valued at approximately $185,576.46. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,162 shares of company stock worth $58,645,479. 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.