NorthCrest Asset Manangement LLC Acquires 1,968 Shares of Visa Inc. (NYSE:V)

NorthCrest Asset Manangement LLC increased its stake in shares of Visa Inc. (NYSE:V - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,050 shares of the credit-card processor's stock after purchasing an additional 1,968 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Visa were worth $14,036,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of V. Hirtle Callaghan & Co LLC grew its stake in shares of Visa by 1.3% during the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock valued at $724,000 after buying an additional 29 shares during the last quarter. FWL Investment Management LLC boosted its position in Visa by 0.5% during the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after acquiring an additional 29 shares in the last quarter. Warther Private Wealth LLC boosted its position in Visa by 1.0% during the 4th quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor's stock valued at $928,000 after acquiring an additional 30 shares in the last quarter. Valmark Advisers Inc. boosted its position in Visa by 0.4% during the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor's stock valued at $2,292,000 after acquiring an additional 30 shares in the last quarter. Finally, Strategic Family Wealth Counselors L.L.C. boosted its position in Visa by 0.4% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor's stock valued at $2,302,000 after acquiring an additional 30 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 46,214 shares of the company's stock in a transaction on Thursday, June 5th. The shares were 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 owns 26,413 shares of the company's stock, valued at approximately $9,772,810. This represents a 63.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the transaction, the chief executive officer now directly owns 537 shares of the company's stock, valued at $188,186.28. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,448 shares of company stock worth $50,133,659 in the last three months. Corporate insiders own 0.13% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on V shares. Truist Financial began coverage on Visa in a research report on Monday, June 2nd. They issued a "buy" rating and a $400.00 price target on the stock. UBS Group boosted their price objective on shares of Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Citigroup began coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating for the company. The Goldman Sachs Group began coverage on shares of Visa in a report on Monday, June 2nd. They issued a "neutral" rating for the company. Finally, Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $372.80.

Visa Stock Performance

Shares of NYSE:V traded down $18.65 during midday trading on Friday, hitting $352.75. The company had a trading volume of 14,176,249 shares, compared to its average volume of 7,023,528. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $650.87 billion, a price-to-earnings ratio of 35.56, a PEG ratio of 2.33 and a beta of 0.94. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The company has a fifty day moving average of $348.87 and a two-hundred day moving average of $337.17.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. Visa's revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.51 EPS. On average, equities research analysts expect 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. Stockholders of record on Tuesday, May 13th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. Visa's dividend payout ratio (DPR) is 23.72%.

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.