Visa Inc. (NYSE:V) is Gallagher Capital Advisors LLC’s 8th Largest Position

Gallagher Capital Advisors LLC lessened its stake in Visa Inc. (NYSE:V) by 1.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,351 shares of the credit-card processor’s stock after selling 113 shares during the period. Visa comprises approximately 3.0% of Gallagher Capital Advisors LLC’s investment portfolio, making the stock its 8th largest holding. Gallagher Capital Advisors LLC’s holdings in Visa were worth $3,978,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AssuredPartners Investment Advisors LLC grew its position in shares of Visa by 1.1% during the 1st quarter. AssuredPartners Investment Advisors LLC now owns 9,003 shares of the credit-card processor’s stock valued at $3,155,000 after acquiring an additional 101 shares during the period. Asset Management One Co. Ltd. boosted its position in Visa by 8.8% during the first quarter. Asset Management One Co. Ltd. now owns 863,307 shares of the credit-card processor’s stock worth $302,555,000 after purchasing an additional 70,039 shares in the last quarter. Narwhal Capital Management grew its holdings in Visa by 6.4% in the first quarter. Narwhal Capital Management now owns 52,609 shares of the credit-card processor’s stock valued at $18,437,000 after purchasing an additional 3,177 shares during the period. Figure 8 Investment Strategies LLC increased its position in shares of Visa by 1.0% in the first quarter. Figure 8 Investment Strategies LLC now owns 8,624 shares of the credit-card processor’s stock valued at $3,022,000 after buying an additional 83 shares in the last quarter. Finally, Elwood & Goetz Wealth Advisory Group LLC raised its stake in shares of Visa by 18.1% during the 1st quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 1,366 shares of the credit-card processor’s stock worth $479,000 after buying an additional 209 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Shares of Visa stock opened at $351.65 on Wednesday. The firm has a market cap of $648.84 billion, a PE ratio of 35.34, a price-to-earnings-growth ratio of 2.31 and a beta of 0.94. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The business’s fifty day simple moving average is $352.27 and its 200-day simple moving average is $339.26.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. The company had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. Visa’s revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.51 earnings per share. Equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s payout ratio is 23.72%.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the transaction, the insider now owns 26,413 shares of the company’s stock, valued at $9,904,875. This trade represents a 30.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $362.77, for a total transaction of $3,127,077.40. Following the completion of the transaction, the chief executive officer now owns 537 shares of the company’s stock, valued at approximately $194,807.49. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,098 shares of company stock worth $36,738,526 over the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the topic of a number of research analyst reports. UBS Group lifted their price target on shares of Visa from $395.00 to $405.00 and gave the company a “buy” rating in a research note on Wednesday, May 28th. Truist Financial assumed coverage on shares of Visa in a research note on Monday, June 2nd. They set a “buy” rating and a $400.00 target price for the company. The Goldman Sachs Group assumed coverage on Visa in a report on Monday, June 2nd. They issued a “neutral” rating on the stock. Barclays reissued an “overweight” rating on shares of Visa in a report on Friday, June 13th. Finally, Susquehanna reaffirmed a “positive” rating on shares of Visa in a research note on Friday, March 21st. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average price target of $372.80.

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.