Planning Directions Inc. Purchases Shares of 2,445 Visa Inc. (NYSE:V)

Planning Directions Inc. bought a new position in shares of Visa Inc. (NYSE:V - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,445 shares of the credit-card processor's stock, valued at approximately $857,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Hirtle Callaghan & Co LLC increased its position in Visa by 1.3% during the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock worth $724,000 after buying an additional 29 shares during the period. FWL Investment Management LLC increased its position in Visa by 0.5% during the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock worth $2,005,000 after buying an additional 29 shares during the period. Capstone Financial Advisors Inc. increased its position in Visa by 3.6% during the fourth quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock worth $276,000 after buying an additional 30 shares during the period. Headinvest LLC increased its position in Visa by 0.8% during the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock worth $1,265,000 after buying an additional 30 shares during the period. Finally, Kennebec Savings Bank increased its position in Visa by 0.9% during the first quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock worth $1,182,000 after buying an additional 30 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on V. Jefferies Financial Group lifted their price target on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Piper Sandler lifted their price target on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Citigroup began coverage on Visa in a research report on Monday, June 2nd. They set a "buy" rating on the stock. Evercore ISI initiated coverage on Visa in a research report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price target on the stock. Finally, William Blair reiterated an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $372.84.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 owned 26,413 shares of the company's stock, valued at $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,108 shares of company stock valued at $36,771,200 over the last three months. 0.13% of the stock is currently owned by insiders.

Visa Price Performance

Shares of Visa stock traded down $8.17 during trading on Friday, reaching $347.71. The company's stock had a trading volume of 7,577,927 shares, compared to its average volume of 6,822,520. The business has a 50 day moving average price of $356.93 and a 200-day moving average price of $342.71. The company has a market capitalization of $641.58 billion, a P/E ratio of 34.95, a price-to-earnings-growth ratio of 2.36 and a beta of 0.92. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (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 analysts' expectations of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. Visa's revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.51 earnings per share. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. Visa's dividend payout ratio (DPR) is 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.