DT Investment Partners LLC Has $3.10 Million Position in Visa Inc. (NYSE:V)

DT Investment Partners LLC decreased its stake in shares of Visa Inc. (NYSE:V - Free Report) by 7.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,840 shares of the credit-card processor's stock after selling 727 shares during the period. DT Investment Partners LLC's holdings in Visa were worth $3,098,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of V. Lakeridge Wealth Management LLC grew its position in Visa by 5.7% during the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after acquiring an additional 81 shares during the period. Blue Rock Wealth Management LLC purchased a new stake in Visa during the fourth quarter valued at about $306,000. Aptus Capital Advisors LLC lifted its stake 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 worth $57,727,000 after purchasing an additional 30,185 shares in the last quarter. King Wealth Management Group lifted 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 purchasing an additional 6,172 shares in the last quarter. Finally, Eagle Strategies LLC lifted its stake in shares of Visa by 2.5% during the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock worth $811,000 after purchasing an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Stock Down 0.6%

Shares of NYSE:V traded down $2.20 on Thursday, reaching $355.56. The company had a trading volume of 6,115,882 shares, compared to its average volume of 6,837,809. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $375.51. The stock has a 50-day moving average price of $356.66 and a 200 day moving average price of $342.11. The stock has a market capitalization of $656.07 billion, a P/E ratio of 35.74, a P/E/G ratio of 2.40 and a beta of 0.92. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45.

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

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.66%. Visa's dividend payout ratio is currently 23.72%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Evercore ISI assumed coverage on Visa in a research note on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price objective on the stock. Susquehanna restated a "positive" rating on shares of Visa in a research note on Friday, March 21st. Oppenheimer boosted their price objective on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Jefferies Financial Group boosted their price objective on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Finally, Truist Financial started coverage on Visa in a research note on Monday, June 2nd. They set a "buy" rating and a $400.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Visa has a consensus rating of "Moderate Buy" and an average target price of $372.84.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction that occurred 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 transaction, the general counsel owned 11,925 shares of the company's stock, valued at approximately $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 101,108 shares of company stock valued at $36,771,200 over the last quarter. Insiders own 0.13% of the company's stock.

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.