Seek First Inc. Purchases New Shares in Visa Inc. (NYSE:V)

Key Points

• Seek First Inc. acquired 2,832 shares of Visa Inc., valued at approximately $992,000, now making Visa 0.9% of its investment portfolio.
• Analysts have set a consensus price target of $380.84 for Visa, with 23 analysts rating it as a buy and one as a strong buy.
• Visa recently announced a quarterly dividend of $0.59 per share, representing a 0.7% dividend yield.

Seek First Inc. purchased a new stake in Visa Inc. (NYSE:V - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,832 shares of the credit-card processor's stock, valued at approximately $992,000. Visa accounts for approximately 0.9% of Seek First Inc.'s investment portfolio, making the stock its 21st biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its position in 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 acquiring an additional 6,883 shares during the period. Revolve Wealth Partners LLC boosted its position in 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 acquiring an additional 4,817 shares during the period. Jump Financial LLC boosted its position in Visa by 241.6% during the 4th quarter. Jump Financial LLC now owns 3,546 shares of the credit-card processor's stock worth $1,121,000 after acquiring an additional 2,508 shares during the period. First Trust Advisors LP boosted its position in Visa by 2.1% during the 4th quarter. First Trust Advisors LP now owns 1,686,787 shares of the credit-card processor's stock worth $533,092,000 after acquiring an additional 34,769 shares during the period. Finally, Dnca Finance boosted its position in Visa by 4.3% during the 4th quarter. Dnca Finance now owns 199,447 shares of the credit-card processor's stock worth $63,033,000 after acquiring an additional 8,270 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group lifted 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. Citigroup initiated coverage on Visa in a research note on Monday, June 2nd. They issued a "buy" rating on the stock. Truist Financial cut their price objective on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Piper Sandler raised their price objective on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group initiated coverage on Visa in a research note on Monday, June 2nd. They issued a "neutral" rating on the stock. Five 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $380.84.

Visa Trading Down 0.3%

NYSE V opened at $344.44 on Friday. The business's 50-day moving average price is $350.17 and its two-hundred day moving average price is $347.41. Visa Inc. has a 12 month low of $265.23 and a 12 month high of $375.51. The firm has a market capitalization of $631.29 billion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 2.29 and a beta of 0.94. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the previous year, the company posted $2.42 EPS. The business's revenue was up 14.3% on a year-over-year basis. On average, analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's dividend payout ratio is presently 23.05%.

Insider Activity

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 stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the company'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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,100 shares of company stock worth $27,643,224. 0.13% of the stock is owned by corporate insiders.

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.

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