Lord Abbett & CO. LLC Purchases 3,661 Shares of Visa Inc. (NYSE:V)

Lord Abbett & CO. LLC boosted its position in shares of Visa Inc. (NYSE:V - Free Report) by 38.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,148 shares of the credit-card processor's stock after buying an additional 3,661 shares during the period. Lord Abbett & CO. LLC's holdings in Visa were worth $4,608,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. purchased a new position in shares of Visa in the 1st quarter worth approximately $27,000. Measured Risk Portfolios Inc. purchased a new position in shares of Visa in the 4th quarter worth approximately $47,000. Navigoe LLC purchased a new position in shares of Visa in the 4th quarter worth approximately $53,000. O Brien Wealth Partners LLC purchased a new position in shares of Visa in the 1st quarter worth approximately $54,000. Finally, Global X Japan Co. Ltd. purchased a new position in shares of Visa in the 1st quarter worth approximately $56,000. 82.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

V has been the subject of a number of research analyst reports. Macquarie raised their price target on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Barclays reissued an "overweight" rating and set a $408.00 price target (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Jefferies Financial Group raised their price target on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Piper Sandler raised their price target on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Finally, Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $380.84.

Visa Stock Down 0.3%

Shares of V stock opened at $344.44 on Friday. Visa Inc. has a 1-year low of $265.23 and a 1-year high of $375.51. The stock's fifty day moving average price is $350.17 and its 200 day moving average price is $347.41. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $631.29 billion, a price-to-earnings ratio of 33.64, a price-to-earnings-growth ratio of 2.29 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the previous year, the business earned $2.42 EPS. The firm's revenue for the quarter was up 14.3% on a year-over-year basis. On average, research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, August 12th. Visa's payout ratio is 23.05%.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the business's stock in a transaction dated 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 sale, the insider owned 26,413 shares in the company, valued at approximately $9,772,810. The trade was a 63.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,100 shares of company stock worth $27,643,224. 0.13% of the stock is owned by company insiders.

Visa 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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