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LRI Investments LLC Has $10.98 Million Stock Position in Visa Inc. (NYSE:V)

Visa logo with Business Services background

LRI Investments LLC raised its position in shares of Visa Inc. (NYSE:V - Free Report) by 2.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 31,327 shares of the credit-card processor's stock after purchasing an additional 862 shares during the quarter. Visa makes up approximately 0.9% of LRI Investments LLC's investment portfolio, making the stock its 20th largest holding. LRI Investments LLC's holdings in Visa were worth $10,979,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of V. Sovereign Investment Advisors LLC bought a new position in Visa during the fourth quarter worth $424,000. Brighton Jones LLC raised its holdings in shares of Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after purchasing an additional 6,883 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after purchasing an additional 4,817 shares in the last quarter. Highview Capital Management LLC DE boosted its position in shares of Visa by 3.1% during the 4th quarter. Highview Capital Management LLC DE now owns 19,997 shares of the credit-card processor's stock worth $6,320,000 after purchasing an additional 604 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its stake in shares of Visa by 13.8% in the 4th quarter. Proficio Capital Partners LLC now owns 26,260 shares of the credit-card processor's stock valued at $8,299,000 after buying an additional 3,191 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. William Blair reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on Visa in a research report on Monday, June 2nd. They set a "neutral" rating on the stock. Susquehanna restated a "positive" rating on shares of Visa in a research note on Friday, March 21st. Barclays reaffirmed an "overweight" rating on shares of Visa in a research note on Friday, June 13th. Finally, Truist Financial started coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating and a $400.00 target price on the stock. Five research 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $372.84.

View Our Latest Stock Analysis on V

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the company'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 sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction that occurred on Thursday, May 1st. The shares were 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 owned 11,925 shares of the company's stock, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,108 shares of company stock worth $36,771,200 over the last quarter. Corporate insiders own 0.13% of the company's stock.

Visa Trading Down 2.3%

NYSE:V opened at $347.71 on Monday. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm's 50 day moving average is $356.93 and its 200 day moving average is $342.86. The stock has a market capitalization of $641.58 billion, a PE ratio of 34.95, a price-to-earnings-growth ratio of 2.36 and a beta of 0.92.

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, beating analysts' consensus estimates 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 revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.51 EPS. Sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given 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 0.68%. Visa's dividend payout ratio is presently 23.72%.

About Visa

(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.

Further Reading

Institutional Ownership by Quarter for Visa (NYSE:V)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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