Visa Inc. (NYSE:V) Position Reduced by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. cut its holdings in Visa Inc. (NYSE:V) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,078 shares of the credit-card processor’s stock after selling 317 shares during the quarter. Visa makes up approximately 2.4% of Lorne Steinberg Wealth Management Inc.’s portfolio, making the stock its 9th largest holding. Lorne Steinberg Wealth Management Inc.’s holdings in Visa were worth $7,836,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of V. Alaethes Wealth LLC raised its position in Visa by 0.4% during the 4th quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock worth $2,302,000 after purchasing an additional 37 shares during the last quarter. Jessup Wealth Management Inc lifted its position in shares of Visa by 0.7% in the 1st quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after purchasing an additional 37 shares during the period. Long Run Wealth Advisors LLC boosted its stake in shares of Visa by 2.5% in the 1st quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock valued at $424,000 after purchasing an additional 37 shares during the last quarter. Cordatus Wealth Management LLC increased its position in shares of Visa by 0.3% during the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after buying an additional 37 shares during the period. Finally, Garden State Investment Advisory Services LLC raised its stake in Visa by 1.8% during the fourth quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock worth $571,000 after buying an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

NYSE V traded down $0.96 on Tuesday, hitting $265.44. The stock had a trading volume of 6,431,503 shares, compared to its average volume of 6,838,637. The firm has a 50-day moving average of $273.07 and a 200-day moving average of $274.01. The company has a market capitalization of $485.47 billion, a price-to-earnings ratio of 29.66, a price-to-earnings-growth ratio of 1.85 and a beta of 0.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. Visa Inc. has a 52-week low of $227.68 and a 52-week high of $290.96.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.08. The company had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the company earned $2.09 earnings per share. Equities analysts expect that Visa Inc. will post 9.94 EPS for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.78%. Visa’s payout ratio is presently 23.24%.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the transaction, the insider now directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of several research analyst reports. Wedbush lifted their price objective on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Evercore ISI cut their price target on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Mizuho raised their price objective on shares of Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. TD Cowen assumed coverage on shares of Visa in a research note on Thursday, April 11th. They set a “buy” rating and a $320.00 target price on the stock. Finally, Royal Bank of Canada lifted their price target on shares of Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $303.56.

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.