608 Shares in Visa Inc. (NYSE:V) Purchased by Stonekeep Investments LLC

Stonekeep Investments LLC purchased a new position in Visa Inc. (NYSE:V) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 608 shares of the credit-card processor’s stock, valued at approximately $213,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lakeridge Wealth Management LLC lifted its holdings in Visa by 5.7% during the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor’s stock valued at $528,000 after purchasing an additional 81 shares during the last quarter. Blue Rock Wealth Management LLC bought a new stake in shares of Visa during the fourth quarter valued at about $306,000. Aptus Capital Advisors LLC increased its position in shares of Visa by 19.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock valued at $57,727,000 after buying an additional 30,185 shares during the period. Eagle Strategies LLC increased its position in shares of Visa by 2.5% during the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock valued at $811,000 after buying an additional 63 shares during the period. Finally, Rafferty Asset Management LLC increased its position in shares of Visa by 7.7% during the fourth quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor’s stock valued at $192,948,000 after buying an additional 43,546 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,630 shares of the firm’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction 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. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the firm’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 transaction, the insider owned 26,413 shares of the company’s stock, valued at $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,108 shares of company stock worth $36,771,200 over the last three months. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on V shares. Truist Financial decreased their price target on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft started coverage on Visa in a research report on Thursday, July 17th. They set a “buy” rating and a $410.00 price target on the stock. Wall Street Zen upgraded Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. William Blair restated an “outperform” rating on shares of Visa in a research report on Wednesday, April 30th. Finally, UBS Group upped their price objective on shares of Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $375.52.

Visa Stock Performance

Shares of V stock opened at $356.93 on Monday. Visa Inc. has a 12 month low of $254.51 and a 12 month high of $375.51. The stock has a market cap of $658.60 billion, a PE ratio of 35.87, a price-to-earnings-growth ratio of 2.41 and a beta of 0.92. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The company’s fifty day moving average price is $356.30 and its 200-day moving average price is $345.45.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter in the previous year, the business posted $2.51 EPS. The company’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued 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 dividend yield of 0.66%. Visa’s payout ratio is presently 23.72%.

Visa 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.