Main Street Research LLC Purchases 3,338 Shares of Visa Inc. (NYSE:V)

Main Street Research LLC grew its stake in shares of Visa Inc. (NYSE:V - Free Report) by 2.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 171,366 shares of the credit-card processor's stock after purchasing an additional 3,338 shares during the quarter. Visa makes up about 3.9% of Main Street Research LLC's holdings, making the stock its 5th biggest position. Main Street Research LLC's holdings in Visa were worth $60,057,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. von Borstel & Associates Inc. purchased a new position in Visa during the 1st quarter worth $27,000. Sellwood Investment Partners LLC acquired a new stake in Visa during the 4th quarter worth approximately $41,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Visa in the fourth quarter valued at approximately $47,000. Measured Risk Portfolios Inc. acquired a new stake in shares of Visa during the fourth quarter worth $47,000. Finally, Navigoe LLC acquired a new position in Visa in the 4th quarter valued at $53,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Trading Up 0.7%

NYSE:V traded up $2.52 during trading hours on Monday, reaching $350.45. 5,598,510 shares of the company were exchanged, compared to its average volume of 6,817,623. The firm has a market cap of $646.63 billion, a price-to-earnings ratio of 35.22, a PEG ratio of 2.36 and a beta of 0.92. The stock has a 50 day simple moving average of $356.93 and a 200 day simple moving average of $342.86. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion for 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%. The firm's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.51 earnings per share. As a group, analysts predict 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. Investors of record on Tuesday, May 13th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is presently 23.72%.

Insider Activity 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 shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel directly owned 11,925 shares of the company's stock, 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 is accessible through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the 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 sale, the insider owned 26,413 shares of the company's stock, 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. Over the last quarter, insiders have sold 101,108 shares of company stock worth $36,771,200. Company insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

V has been the topic of a number of recent analyst reports. Piper Sandler boosted their price target 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. BMO Capital Markets raised their target price on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on shares of Visa in a report on Monday, June 2nd. They issued a "neutral" rating for the company. Citigroup initiated coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating on the stock. Finally, William Blair reissued an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $372.84.

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.