Edgemoor Investment Advisors Inc. Buys 1,315 Shares of Visa Inc. (NYSE:V)

Edgemoor Investment Advisors Inc. increased its position in Visa Inc. (NYSE:V - Free Report) by 2.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,882 shares of the credit-card processor's stock after acquiring an additional 1,315 shares during the period. Visa comprises about 2.0% of Edgemoor Investment Advisors Inc.'s investment portfolio, making the stock its 14th biggest holding. Edgemoor Investment Advisors Inc.'s holdings in Visa were worth $21,687,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. von Borstel & Associates Inc. acquired a new stake in shares of Visa during the first quarter worth about $27,000. Sellwood Investment Partners LLC purchased a new stake in shares of Visa during the 4th quarter valued at $41,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Visa during the 4th quarter valued at $47,000. Measured Risk Portfolios Inc. acquired a new position in shares of Visa during the 4th quarter valued at $47,000. Finally, Navigoe LLC acquired a new stake in shares of Visa in the 4th quarter valued at about $53,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Price Performance

NYSE V traded up $1.85 on Monday, reaching $350.90. The company's stock had a trading volume of 5,215,544 shares, compared to its average volume of 6,789,211. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $375.51. The stock has a market cap of $647.46 billion, a PE ratio of 32.81, a PEG ratio of 2.36 and a beta of 0.92. The firm's 50 day moving average is $356.82 and its two-hundred day moving average is $344.02.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The business's quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.51 EPS. As a group, sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. Visa's dividend payout ratio is presently 23.72%.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 46,214 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were 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 of the company's stock, valued at $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,108 shares of company stock worth $36,771,200. Corporate insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. UBS Group increased their price objective 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. Piper Sandler upped their price objective on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Barclays restated an "overweight" rating on shares of Visa in a research note on Friday, June 13th. Macquarie dropped their price target on Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Finally, Citigroup began coverage on Visa in a research note on Monday, June 2nd. They set a "buy" rating on the stock. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $375.52.

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.