Visa Inc. (NYSE:V) Position Increased by Seamount Financial Group Inc.

Seamount Financial Group Inc. boosted its position in shares of Visa Inc. (NYSE:V) by 6.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,412 shares of the credit-card processor’s stock after purchasing an additional 90 shares during the period. Seamount Financial Group Inc.’s holdings in Visa were worth $495,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after purchasing an additional 7,079,706 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Visa by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock worth $12,729,901,000 after buying an additional 1,689,926 shares during the last quarter. Capital International Investors lifted its position in shares of Visa by 3.8% in the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor’s stock worth $7,526,660,000 after buying an additional 866,596 shares during the last quarter. Capital World Investors lifted its position in shares of Visa by 1.0% in the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor’s stock worth $7,356,614,000 after buying an additional 241,057 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock worth $5,771,116,000 after buying an additional 2,785,707 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on V shares. Susquehanna reaffirmed a “positive” rating on shares of Visa in a research report on Friday, March 21st. Piper Sandler boosted their price target on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Evercore ISI started coverage on Visa in a research report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 price target for the company. Truist Financial assumed coverage on Visa in a research report on Monday, June 2nd. They issued a “buy” rating and a $400.00 price target for the company. Finally, BMO Capital Markets lifted their price objective on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus price target of $372.84.

Visa Trading Down 2.3%

Shares of V opened at $347.71 on Friday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $641.58 billion, a price-to-earnings ratio of 34.95, a P/E/G ratio of 2.41 and a beta of 0.92. The stock’s 50-day moving average price is $356.93 and its 200 day moving average price is $342.56.

Visa (NYSE:V) last released its quarterly earnings data 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 return on equity of 56.28% and a net margin of 52.86%. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period in the prior year, the company posted $2.51 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. As a group, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. Visa’s dividend payout ratio is currently 23.72%.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,108 shares of company stock worth $36,771,200. Company insiders own 0.13% of the company’s stock.

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.