Meadow Creek Wealth Advisors LLC Acquires 732 Shares of Visa Inc. (NYSE:V)

Meadow Creek Wealth Advisors LLC raised its stake in shares of Visa Inc. (NYSE:V - Free Report) by 15.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,361 shares of the credit-card processor's stock after buying an additional 732 shares during the period. Visa comprises approximately 1.4% of Meadow Creek Wealth Advisors LLC's holdings, making the stock its 16th largest position. Meadow Creek Wealth Advisors LLC's holdings in Visa were worth $1,879,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Detalus Advisors LLC raised its stake in Visa by 38.4% during the 1st quarter. Detalus Advisors LLC now owns 3,832 shares of the credit-card processor's stock valued at $1,343,000 after buying an additional 1,064 shares during the last quarter. Klingenstein Fields & Co. LP raised its stake in Visa by 2.5% during the 1st quarter. Klingenstein Fields & Co. LP now owns 1,276 shares of the credit-card processor's stock valued at $447,000 after buying an additional 31 shares during the last quarter. Alterna Wealth Management Inc. raised its stake in Visa by 3.8% during the 1st quarter. Alterna Wealth Management Inc. now owns 3,930 shares of the credit-card processor's stock valued at $1,377,000 after buying an additional 143 shares during the last quarter. LFA Lugano Financial Advisors SA raised its stake in Visa by 10.0% during the 1st quarter. LFA Lugano Financial Advisors SA now owns 990 shares of the credit-card processor's stock valued at $347,000 after buying an additional 90 shares during the last quarter. Finally, Pictet North America Advisors SA raised its stake in Visa by 2.3% during the 1st quarter. Pictet North America Advisors SA now owns 64,142 shares of the credit-card processor's stock valued at $22,479,000 after buying an additional 1,459 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the transaction, the insider owned 26,413 shares of the company's stock, valued at $9,772,810. This represents a 63.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,121,041.50. This trade represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,108 shares of company stock valued at $36,771,200 in the last 90 days. Insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

V has been the subject of several analyst reports. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Jefferies Financial Group upped their price objective on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Oppenheimer upped their price objective on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday. Piper Sandler upped their price objective on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Finally, Truist Financial initiated coverage on Visa in a research note on Monday, June 2nd. They issued a "buy" rating and a $400.00 price objective for the company. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $372.84.

Visa Price Performance

Shares of V traded up $4.48 during midday trading on Friday, hitting $358.70. 3,702,810 shares of the company traded hands, compared to its average volume of 6,855,011. The firm has a 50 day moving average of $355.79 and a 200-day moving average of $341.24. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The stock has a market cap of $661.86 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 2.43 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the prior year, the firm earned $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 EPS for the current fiscal year.

Visa Announces Dividend

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