Cushing Capital Partners LLC Invests $1.30 Million in Visa Inc. (NYSE:V)

Cushing Capital Partners LLC acquired a new position in Visa Inc. (NYSE:V) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,720 shares of the credit-card processor’s stock, valued at approximately $1,304,000. Visa comprises about 1.2% of Cushing Capital Partners LLC’s portfolio, making the stock its 25th biggest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in V. Lakeridge Wealth Management LLC raised its stake in shares of Visa by 5.7% during the 1st 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 period. Blue Rock Wealth Management LLC purchased a new position in Visa during the 4th 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. King Wealth Management Group increased its position in shares of Visa by 9.0% during the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock valued at $23,663,000 after buying an additional 6,172 shares during the period. Finally, Eagle Strategies LLC lifted its holdings in shares of Visa by 2.5% in the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock worth $811,000 after buying an additional 63 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Performance

NYSE:V opened at $357.89 on Wednesday. The company has a market capitalization of $660.37 billion, a price-to-earnings ratio of 35.97, a PEG ratio of 2.39 and a beta of 0.94. The business has a 50 day moving average of $351.22 and a 200 day moving average of $338.19. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business’s revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm posted $2.51 earnings per share. On average, sell-side analysts predict that Visa Inc. will post 11.3 earnings per share 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 issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Tuesday, May 13th. Visa’s dividend payout ratio is currently 23.72%.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider now owns 26,413 shares in the company, valued at approximately $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $2,978,899.60. Following the sale, the chief executive officer now directly owns 537 shares of the company’s stock, valued at approximately $185,576.46. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,098 shares of company stock worth $36,738,526 in the last 90 days. 0.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on V shares. UBS Group boosted their price objective 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. Jefferies Financial Group raised their price target on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. Barclays restated an “overweight” rating on shares of Visa in a research report on Friday. Wall Street Zen upgraded Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Finally, William Blair reissued an “outperform” rating on shares of Visa in a research note on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $372.80.

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.