Visa Inc. (NYSE:V) Shares Bought by Edgemoor Investment Advisors Inc.

Edgemoor Investment Advisors Inc. boosted its stake in shares of Visa Inc. (NYSE:V) by 2.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,882 shares of the credit-card processor’s stock after acquiring an additional 1,315 shares during the quarter. Visa comprises 2.0% of Edgemoor Investment Advisors Inc.’s investment portfolio, making the stock its 14th biggest holding. Edgemoor Investment Advisors Inc.’s holdings in Visa were worth $21,687,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. von Borstel & Associates Inc. purchased a new position in shares of Visa during the 1st quarter worth approximately $27,000. Sellwood Investment Partners LLC purchased a new position in Visa in the 4th quarter valued at approximately $41,000. Mountain Hill Investment Partners Corp. purchased a new position in Visa in the 4th quarter valued at approximately $47,000. Measured Risk Portfolios Inc. purchased a new position in Visa in the 4th quarter valued at approximately $47,000. Finally, O Brien Wealth Partners LLC purchased a new position in Visa in the 1st quarter valued at approximately $54,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 11,636 shares of Visa 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 owned 26,413 shares of the company’s stock, valued at approximately $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,108 shares of company stock valued at $36,771,200 over the last three months. 0.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

V has been the subject of several research analyst reports. Macquarie dropped their price objective on Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and increased their target price for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Piper Sandler raised their price objective on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. BMO Capital Markets raised their price objective on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Finally, Oppenheimer raised their price objective on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $375.52.

Visa Stock Down 0.3%

Shares of NYSE V opened at $348.90 on Monday. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $375.51. The firm has a market cap of $643.78 billion, a price-to-earnings ratio of 35.07, a PEG ratio of 2.36 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The stock’s 50-day simple moving average is $356.82 and its 200-day simple moving average is $344.02.

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 the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. Visa’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.51 earnings per share. As a group, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

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.