Red Door Wealth Management LLC Has $13.56 Million Stock Holdings in Visa Inc. (NYSE:V)

Red Door Wealth Management LLC increased its stake in Visa Inc. (NYSE:V - Free Report) by 8.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,682 shares of the credit-card processor's stock after acquiring an additional 2,939 shares during the period. Visa makes up 2.0% of Red Door Wealth Management LLC's investment portfolio, making the stock its 10th largest position. Red Door Wealth Management LLC's holdings in Visa were worth $13,557,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of V. Sovereign Investment Advisors LLC acquired a new stake in Visa during the fourth quarter worth about $424,000. Brighton Jones LLC grew its holdings in shares of Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after purchasing an additional 6,883 shares during the period. Revolve Wealth Partners LLC grew its holdings 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 during the period. Leverage Partners Absolute Return Fund SPC acquired a new stake in Visa during the 4th quarter worth approximately $204,000. Finally, SOA Wealth Advisors LLC. raised its holdings in Visa by 7.0% in the fourth quarter. SOA Wealth Advisors LLC. now owns 2,855 shares of the credit-card processor's stock valued at $902,000 after buying an additional 187 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on V shares. BMO Capital Markets lifted their price target on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Macquarie reduced their target price on shares of Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Evercore ISI began coverage on shares of Visa in a research report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price target for the company. Jefferies Financial Group increased their price target on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Finally, The Goldman Sachs Group started coverage on Visa in a research note on Monday, June 2nd. They set a "neutral" rating on the stock. Five investment 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's stock. Based on data from MarketBeat, Visa presently has a consensus rating of "Moderate Buy" and an average price target of $372.84.

Visa Stock Up 1.2%

Shares of Visa stock traded up $4.13 during trading on Thursday, reaching $358.35. The company had a trading volume of 1,827,807 shares, compared to its average volume of 6,841,113. 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 Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The firm's fifty day moving average is $354.87 and its 200-day moving average is $340.67. The company has a market cap of $661.20 billion, a price-to-earnings ratio of 35.99, a price-to-earnings-growth ratio of 2.41 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. During the same quarter in the prior year, the firm posted $2.51 earnings per share. Visa's revenue for the quarter was up 9.3% compared to the same quarter last year. On average, analysts anticipate that Visa Inc. will post 11.3 EPS 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 paid a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.66%. Visa's payout ratio is 23.72%.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,575 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 transaction of $889,868.50. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider directly owned 26,413 shares in the company, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,478 shares of company stock worth $33,717,733 over the last quarter. 0.13% of the stock is owned by company insiders.

Visa Company 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.