Dock Street Asset Management Inc. Boosts Holdings in Visa Inc. (NYSE:V)

Dock Street Asset Management Inc. increased its stake in shares of Visa Inc. (NYSE:V - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 158,257 shares of the credit-card processor's stock after buying an additional 12,885 shares during the period. Visa accounts for approximately 6.5% of Dock Street Asset Management Inc.'s holdings, making the stock its 4th biggest holding. Dock Street Asset Management Inc.'s holdings in Visa were worth $55,463,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Hughes Financial Services LLC acquired a new position in Visa during the 1st quarter worth about $99,000. Rainey & Randall Wealth Advisors Inc. acquired a new position in Visa during the 1st quarter worth about $411,000. TruNorth Capital Management LLC lifted its position in Visa by 948.8% during the 1st quarter. TruNorth Capital Management LLC now owns 1,783 shares of the credit-card processor's stock worth $625,000 after buying an additional 1,613 shares in the last quarter. New York State Common Retirement Fund lifted its position in Visa by 2.3% during the 1st quarter. New York State Common Retirement Fund now owns 2,227,737 shares of the credit-card processor's stock worth $780,733,000 after buying an additional 50,605 shares in the last quarter. Finally, Platform Technology Partners lifted its position in Visa by 17.6% during the 1st quarter. Platform Technology Partners now owns 11,496 shares of the credit-card processor's stock valued at $4,029,000 after purchasing an additional 1,722 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on V. UBS Group upped their target price on shares of Visa from $395.00 to $405.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Truist Financial began coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating and a $400.00 target price on the stock. Macquarie cut their target price on shares of Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Citigroup began coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating on the stock. Finally, Oppenheimer upped their target price on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $372.84.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm'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 transaction of $889,868.50. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,121,041.50. This trade represents a 17.76% decrease in their position. 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 that occurred on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the transaction, the insider directly owned 26,413 shares of the company's stock, valued at $9,772,810. This represents 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 valued at $36,771,200 in the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

Visa Price Performance

NYSE V opened at $347.71 on Monday. The business has a 50 day simple moving average of $356.93 and a 200 day simple moving average of $342.86. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market cap of $641.58 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 2.36 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. The company had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business's quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the business earned $2.51 EPS. Analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders 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 annualized dividend and a dividend yield of 0.68%. Visa's dividend payout ratio is currently 23.72%.

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.

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