Louisbourg Investments Inc. Sells 2,950 Shares of Visa Inc. (NYSE:V)

Louisbourg Investments Inc. trimmed its stake in shares of Visa Inc. (NYSE:V - Free Report) by 21.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,939 shares of the credit-card processor's stock after selling 2,950 shares during the quarter. Louisbourg Investments Inc.'s holdings in Visa were worth $3,834,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in V. Capital & Planning LLC increased its stake in Visa by 21.2% in the 4th quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor's stock worth $300,000 after acquiring an additional 166 shares during the last quarter. Sovereign Investment Advisors LLC bought a new position in Visa in the 4th quarter worth about $424,000. Brighton Jones LLC increased its stake in Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after acquiring an additional 6,883 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in Visa in the 4th quarter worth about $202,074,000. Finally, Revolve Wealth Partners LLC increased its stake in Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after acquiring an additional 4,817 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the 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 $2,978,899.60. Following the completion of the transaction, the chief executive officer now owns 537 shares of the company's stock, valued at approximately $185,576.46. This represents a 94.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider now directly owns 26,413 shares of the company's stock, valued at $9,772,810. This represents a 63.63% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 140,448 shares of company stock worth $50,133,659. 0.13% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on V. Jefferies Financial Group upped their target price on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Citigroup began coverage on Visa in a report on Monday, June 2nd. They issued a "buy" rating for the company. The Goldman Sachs Group began coverage on Visa in a report on Monday, June 2nd. They issued a "neutral" rating for the company. Truist Financial began coverage on Visa in a report on Monday, June 2nd. They issued a "buy" rating and a $400.00 price objective for the company. Finally, 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. 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, the company currently has an average rating of "Moderate Buy" and an average target price of $372.80.

Visa Trading Up 0.7%

NYSE V opened at $355.23 on Tuesday. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a 50 day simple moving average of $350.71 and a two-hundred day simple moving average of $338.05. The stock has a market cap of $655.46 billion, a P/E ratio of 35.81, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The business had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. During the same quarter last year, the business posted $2.51 EPS. The business's revenue was up 9.3% on a year-over-year basis. On average, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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

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.

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