Breakwater Capital Group Boosts Stake in Visa Inc. (NYSE:V)

Breakwater Capital Group raised its position in Visa Inc. (NYSE:V - Free Report) by 57.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,268 shares of the credit-card processor's stock after buying an additional 1,929 shares during the period. Breakwater Capital Group's holdings in Visa were worth $1,846,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bradley & Co. Private Wealth Management LLC acquired a new position in Visa during the fourth quarter worth $27,000. POM Investment Strategies LLC boosted its position in Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock worth $31,000 after purchasing an additional 32 shares during the period. Compass Planning Associates Inc acquired a new position in Visa in the 4th quarter valued at about $32,000. NewSquare Capital LLC bought a new position in shares of Visa during the fourth quarter worth approximately $35,000. Finally, FPC Investment Advisory Inc. lifted its holdings in shares of Visa by 377.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor's stock worth $36,000 after buying an additional 83 shares in the last quarter. Institutional investors own 82.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Piper Sandler boosted their target price on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Oppenheimer reaffirmed an "outperform" rating on shares of Visa in a research note on Thursday, February 13th. The Goldman Sachs Group began coverage on Visa in a research note on Monday. They issued a "neutral" rating on the stock. Evercore ISI assumed coverage on shares of Visa in a research report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price target on the stock. Finally, Keefe, Bruyette & Woods reiterated a "hold" rating on shares of Visa in a research note on Thursday, February 13th. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $372.80.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's 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 $889,868.50. Following the transaction, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the completion of the transaction, the chief executive officer now owns 537 shares of the company's stock, valued at $188,186.28. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 168,162 shares of company stock valued at $58,645,479 over the last ninety days. Insiders own 0.13% of the company's stock.

Visa Stock Up 1.0%

Shares of NYSE V traded up $3.67 during midday trading on Friday, reaching $370.44. 5,007,822 shares of the company's stock traded hands, compared to its average volume of 7,003,538. Visa Inc. has a one year low of $252.70 and a one year high of $371.00. The stock's 50 day simple moving average is $344.98 and its 200-day simple moving average is $335.10. The company has a market cap of $683.52 billion, a price-to-earnings ratio of 37.34, a P/E/G ratio of 2.33 and a beta of 0.96. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

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

Visa Dividend Announcement

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 0.64%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's payout ratio is 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.