Lake Street Private Wealth LLC Trims Stock Position in Visa Inc. (NYSE:V)

Lake Street Private Wealth LLC decreased its position in shares of Visa Inc. (NYSE:V) by 0.6% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 13,026 shares of the credit-card processor’s stock after selling 78 shares during the period. Lake Street Private Wealth LLC’s holdings in Visa were worth $4,565,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased 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 worth $50,378,465,000 after purchasing an additional 7,079,706 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 valued at $12,729,901,000 after purchasing an additional 1,689,926 shares during the period. Capital International Investors boosted its stake 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 valued at $7,526,660,000 after purchasing an additional 866,596 shares during the period. Capital World Investors boosted its stake in Visa by 1.0% during the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor’s stock valued at $7,356,614,000 after acquiring an additional 241,057 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Visa by 18.0% during the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock valued at $5,771,116,000 after acquiring an additional 2,785,707 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.6%

V opened at $368.04 on Thursday. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $371.75. The firm’s 50-day simple moving average is $344.66 and its 200-day simple moving average is $334.72. 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 has a market cap of $679.09 billion, a price-to-earnings ratio of 37.10, a PEG ratio of 2.33 and a beta of 0.96.

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

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.64%. Visa’s payout ratio is 23.72%.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 14,813 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $355.04, for a total value of $5,259,207.52. Following the completion of the transaction, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $9,377,671.52. This trade represents a 35.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Monday, June 2nd. The shares were 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 directly owns 537 shares of the company’s stock, valued at $194,807.49. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 121,948 shares of company stock valued at $41,546,299. 0.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on V shares. Susquehanna restated a “positive” rating on shares of Visa in a research report on Friday, March 21st. Macquarie lowered their price objective on shares of Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Wall Street Zen upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. William Blair reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods restated a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $367.48.

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.