Spectrum Asset Management Inc. NB CA Buys 1,848 Shares of Visa Inc. (NYSE:V)

Spectrum Asset Management Inc. NB CA boosted its stake in shares of Visa Inc. (NYSE:V - Free Report) by 93.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,819 shares of the credit-card processor's stock after buying an additional 1,848 shares during the quarter. Spectrum Asset Management Inc. NB CA's holdings in Visa were worth $1,338,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Hirtle Callaghan & Co LLC boosted its holdings in shares of Visa by 1.3% during the 4th 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 boosted its holdings in shares of Visa by 0.5% during the 4th 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. Elevation Wealth Partners LLC boosted its holdings in shares of Visa by 3.3% during the 4th quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor's stock worth $297,000 after buying an additional 30 shares during the period. Warther Private Wealth LLC boosted its holdings in shares of Visa by 1.0% during the 4th quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor's stock worth $928,000 after buying an additional 30 shares during the period. Finally, Valmark Advisers Inc. boosted its holdings in shares of Visa by 0.4% during the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor's stock worth $2,292,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. BMO Capital Markets lifted their target price on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Truist Financial started coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "buy" rating and a $400.00 price objective for the company. Jefferies Financial Group lifted their price objective on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Piper Sandler lifted their price objective on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods reiterated a "hold" rating on shares of Visa in a research note on Thursday, February 13th. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $372.80.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction on 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 now directly owns 11,925 shares of the company's stock, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the transaction, the insider now directly owns 26,413 shares in the company, valued at approximately $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 179,798 shares of company stock worth $63,008,979 over the last three months. 0.13% of the stock is owned by company insiders.

Visa Trading Down 0.6%

NYSE V traded down $2.20 on Thursday, hitting $371.11. The company's stock had a trading volume of 4,868,166 shares, compared to its average volume of 6,996,254. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The company's 50-day moving average is $347.68 and its 200 day moving average is $336.77. The firm has a market cap of $684.76 billion, a PE ratio of 37.41, a PEG ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results 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 net margin of 54.27% and a return on equity of 54.79%. The firm had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. During the same period in the prior year, the company posted $2.51 EPS. The company's revenue was up 9.3% on a year-over-year basis. As a group, analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is presently 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.