Leigh Baldwin & CO. LLC Acquires New Stake in Visa Inc. (NYSE:V)

Leigh Baldwin & CO. LLC purchased a new stake in shares of Visa Inc. (NYSE:V - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 553,176 shares of the credit-card processor's stock, valued at approximately $174,826,000. Visa makes up approximately 0.9% of Leigh Baldwin & CO. LLC's holdings, making the stock its 28th biggest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Visa during the 4th quarter worth approximately $5,171,271,000. Vanguard Group Inc. raised its stake in shares of Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock valued at $50,378,465,000 after acquiring an additional 7,079,706 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Visa in the fourth quarter valued at approximately $1,955,403,000. Proficio Capital Partners LLC raised its stake in shares of Visa by 17,018.7% in the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor's stock valued at $1,248,079,000 after acquiring an additional 3,926,049 shares during the last quarter. Finally, Northern Trust Corp raised its position in Visa by 18.0% in the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after purchasing an additional 2,785,707 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Buying and Selling at Visa

In related news, insider Paul D. Fabara sold 14,813 shares of Visa stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $355.04, for a total value of $5,259,207.52. Following the completion of the sale, the insider now directly owns 26,413 shares in the company, valued at approximately $9,377,671.52. This trade represents a 35.93% 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, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $363.00, for a total value of $3,129,060.00. Following the sale, the chief executive officer now owns 537 shares of the company's stock, valued at approximately $194,931. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 121,948 shares of company stock valued at $41,548,282 in the last 90 days. Insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Barclays lifted their target price on Visa from $361.00 to $396.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. The Goldman Sachs Group raised their target price on Visa from $346.00 to $384.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. UBS Group decreased their price target on shares of Visa from $400.00 to $395.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Piper Sandler upped their price target on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods restated a "hold" rating on shares of Visa in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Visa has a consensus rating of "Moderate Buy" and a consensus target price of $362.38.

Visa Price Performance

Shares of NYSE V opened at $352.95 on Monday. The firm has a fifty day simple moving average of $336.98 and a 200 day simple moving average of $327.32. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $655.70 billion, a PE ratio of 35.58, a P/E/G ratio of 2.33 and a beta of 0.96.

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

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa's dividend payout ratio (DPR) is presently 23.72%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.