Visa Inc. (NYSE:V) is Suncoast Equity Management's 3rd Largest Position

Suncoast Equity Management lifted its position in shares of Visa Inc. (NYSE:V - Free Report) by 1.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 151,755 shares of the credit-card processor's stock after buying an additional 1,933 shares during the quarter. Visa makes up 6.0% of Suncoast Equity Management's investment portfolio, making the stock its 3rd largest position. Suncoast Equity Management's holdings in Visa were worth $53,184,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lakeridge Wealth Management LLC grew its holdings in Visa by 5.7% in the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after purchasing an additional 81 shares during the period. Blue Rock Wealth Management LLC purchased a new stake in Visa in the fourth quarter valued at approximately $306,000. Aptus Capital Advisors LLC grew its holdings in Visa by 19.8% in the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock valued at $57,727,000 after purchasing an additional 30,185 shares during the period. King Wealth Management Group grew its holdings in Visa by 9.0% in the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock valued at $23,663,000 after purchasing an additional 6,172 shares during the period. Finally, Eagle Strategies LLC grew its holdings in Visa by 2.5% in the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock valued at $811,000 after purchasing an additional 63 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Susquehanna restated a "positive" rating on shares of Visa in a report on Friday, March 21st. Piper Sandler boosted their target price on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. The Goldman Sachs Group initiated coverage on shares of Visa in a report on Monday, June 2nd. They issued a "neutral" rating for the company. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Finally, Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Visa has an average rating of "Moderate Buy" and an average target price of $372.80.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 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 value of $2,978,899.60. Following the sale, the chief executive officer now directly owns 537 shares of the company's stock, valued at $185,576.46. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 now directly owns 11,925 shares in the company, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,098 shares of company stock valued at $36,738,526 over the last ninety days. Corporate insiders own 0.13% of the company's stock.

Visa Price Performance

Shares of V stock opened at $338.04 on Friday. The company has a market capitalization of $623.73 billion, a PE ratio of 33.97, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94. The firm has a fifty day simple moving average of $351.78 and a 200-day simple moving average of $338.74. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $375.51.

Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.51 earnings per share. Equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.70%. Visa's dividend payout ratio 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.

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