Lakeshore Capital Group Inc. purchased a new position in shares of Visa Inc. (NYSE:V - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,315 shares of the credit-card processor's stock, valued at approximately $1,048,000. Visa accounts for approximately 1.6% of Lakeshore Capital Group Inc.'s investment portfolio, making the stock its 21st biggest position.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Visa in the fourth quarter valued at about $27,000. POM Investment Strategies LLC increased its position in Visa by 48.5% during the 4th 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 in the last quarter. Compass Planning Associates Inc acquired a new position in shares of Visa in the fourth quarter valued at approximately $32,000. FPC Investment Advisory Inc. lifted its stake in shares of Visa by 377.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor's stock worth $36,000 after purchasing an additional 83 shares during the period. Finally, NewSquare Capital LLC acquired a new stake in Visa in the 4th quarter worth about $35,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Visa
In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total value of $3,129,060.00. Following the completion of the sale, the chief executive officer now directly owns 537 shares of the company's stock, valued at $194,931. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction 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 transaction, the general counsel now directly owns 11,925 shares in the company, valued at $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 121,948 shares of company stock worth $41,548,282. 0.13% of the stock is owned by corporate insiders.
Visa Price Performance
Visa stock traded up $3.03 during trading hours on Friday, hitting $365.43. 8,723,609 shares of the company traded hands, compared to its average volume of 7,015,284. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $369.15. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm has a market cap of $674.28 billion, a P/E ratio of 36.84, a P/E/G ratio of 2.33 and a beta of 0.96. The firm's 50-day simple moving average is $342.99 and its two-hundred day simple moving average is $333.16.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping 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 net margin of 54.27% and a return on equity of 54.79%. Visa's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.51 earnings per share. As a group, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.
Visa Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.65%. Visa's payout ratio is presently 23.72%.
Analyst Ratings Changes
V has been the subject of a number of research analyst reports. Piper Sandler upped their price objective on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Evercore ISI initiated coverage on shares of Visa in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 target price for the company. Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Oppenheimer reaffirmed an "outperform" rating on shares of Visa in a research report on Thursday, February 13th. Finally, Jefferies Financial Group boosted their price objective on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday. Six analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $366.13.
Check Out Our Latest Analysis on Visa
Visa Company Profile
(
Free Report)
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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