Castlekeep Investment Advisors LLC Invests $9.39 Million in Visa Inc. (NYSE:V)

Castlekeep Investment Advisors LLC purchased a new stake in Visa Inc. (NYSE:V - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 29,708 shares of the credit-card processor's stock, valued at approximately $9,389,000.

Other institutional investors have also recently made changes to their positions in the company. Riverstone Advisors LLC purchased a new position in Visa in the fourth quarter worth $217,000. Blue Rock Wealth Management LLC purchased a new position in shares of Visa during the 4th quarter valued at about $306,000. Aptus Capital Advisors LLC boosted its stake in Visa by 19.8% in the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock worth $57,727,000 after buying an additional 30,185 shares in the last quarter. Journey Strategic Wealth LLC grew its position in Visa by 16.4% during the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor's stock valued at $3,058,000 after acquiring an additional 1,361 shares during the last quarter. Finally, King Wealth Management Group raised its stake 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 worth $23,663,000 after acquiring an additional 6,172 shares in the last quarter. Institutional investors own 82.15% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on V. Wells Fargo & Company increased their target price on shares of Visa from $360.00 to $395.00 and gave the company an "overweight" rating in a report on Friday, January 31st. The Goldman Sachs Group lifted their price objective on Visa from $346.00 to $384.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Citigroup reissued a "neutral" rating on shares of Visa in a research note on Thursday, February 13th. StockNews.com lowered Visa from a "buy" rating to a "hold" rating in a research report on Wednesday, April 16th. Finally, William Blair reiterated an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Visa has a consensus rating of "Moderate Buy" and a consensus price target of $362.38.

Visa Stock Up 1.5 %

V stock opened at $347.66 on Monday. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $366.54. The company has a market capitalization of $645.87 billion, a price-to-earnings ratio of 35.05, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. The business's 50 day moving average price is $337.61 and its two-hundred day moving average price is $325.07. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results 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 company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The firm's revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.51 earnings per share. As a group, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. Visa's payout ratio is 23.72%.

Insider Buying and Selling

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the completion of the transaction, the insider now owns 36,566 shares in the company, valued at approximately $12,789,689.82. The trade was a 47.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction 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 completion of the sale, the general counsel now directly owns 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 143,208 shares of company stock worth $48,905,978 in the last three months. 0.13% of the stock is owned by corporate insiders.

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.

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