Garrett Wealth Advisory Group LLC Has $835,000 Position in Visa Inc. (NYSE:V)

Garrett Wealth Advisory Group LLC boosted its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 44.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,383 shares of the credit-card processor's stock after purchasing an additional 733 shares during the period. Garrett Wealth Advisory Group LLC's holdings in Visa were worth $835,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Lakeridge Wealth Management LLC lifted its holdings in shares of Visa by 5.7% during the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after acquiring an additional 81 shares during the period. Blue Rock Wealth Management LLC bought a new position in Visa during the 4th quarter valued at about $306,000. Aptus Capital Advisors LLC lifted its holdings in Visa by 19.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock valued at $57,727,000 after purchasing an additional 30,185 shares during the last quarter. King Wealth Management Group lifted its holdings in Visa by 9.0% during the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock valued at $23,663,000 after purchasing an additional 6,172 shares during the last quarter. Finally, Eagle Strategies LLC lifted its holdings in Visa by 2.5% during the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock valued at $811,000 after purchasing an additional 63 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Down 0.5%

Shares of Visa stock traded down $1.67 during trading hours on Thursday, reaching $356.09. 2,382,532 shares of the company's stock were exchanged, compared to its average volume of 6,823,335. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. The firm has a market capitalization of $657.05 billion, a price-to-earnings ratio of 35.78, a price-to-earnings-growth ratio of 2.40 and a beta of 0.92. The company has a fifty day moving average of $356.66 and a 200-day moving average of $342.11. The company has a current ratio of 1.08, a quick 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 (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the prior year, the firm earned $2.51 EPS. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. Sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

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

Wall Street Analysts Forecast Growth

V has been the subject of several analyst reports. Oppenheimer lifted their price target on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. BMO Capital Markets raised their price objective on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. UBS Group raised 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. Finally, Susquehanna restated a "positive" rating on shares of Visa in a research report on Friday, March 21st. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $372.84.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the business'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 transaction of $889,868.50. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction on 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 completion of the sale, the insider owned 26,413 shares of the company's stock, valued at $9,772,810. The trade was a 63.63% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,108 shares of company stock worth $36,771,200. Corporate insiders own 0.13% of the company's stock.

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.