Goelzer Investment Management Inc. Increases Stock Holdings in Visa Inc. (NYSE:V)

Goelzer Investment Management Inc. grew its holdings in shares of Visa Inc. (NYSE:V) by 1.9% during the first quarter, Holdings Channel reports. The firm owned 26,061 shares of the credit-card processor’s stock after purchasing an additional 486 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Visa were worth $9,133,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of V. Lakeridge Wealth Management LLC increased its holdings in Visa by 5.7% during the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor’s stock worth $528,000 after purchasing an additional 81 shares during the period. Blue Rock Wealth Management LLC acquired a new position in shares of Visa during the fourth quarter worth about $306,000. Aptus Capital Advisors LLC increased its stake in shares of Visa by 19.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock worth $57,727,000 after buying an additional 30,185 shares during the period. King Wealth Management Group raised 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 acquiring an additional 6,172 shares in the last quarter. Finally, Eagle Strategies LLC raised 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 acquiring an additional 63 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was 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 owned 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the transaction, the insider owned 26,413 shares in the company, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,108 shares of company stock worth $36,771,200. 0.13% of the stock is currently owned by insiders.

Visa Stock Up 1.3%

Shares of NYSE:V opened at $358.70 on Friday. Visa Inc. has a 1-year low of $252.70 and a 1-year 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. The stock has a market cap of $661.86 billion, a P/E ratio of 36.05, a P/E/G ratio of 2.43 and a beta of 0.92. The firm has a fifty day moving average price of $355.79 and a 200 day moving average price of $341.46.

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

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. Visa’s payout ratio is 23.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. UBS Group increased their price objective on shares of Visa from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Citigroup began coverage on shares of Visa in a research note on Monday, June 2nd. They set a “buy” rating for the company. William Blair reissued an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. Evercore ISI started coverage on Visa in a report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price target for the company. Finally, Piper Sandler upped their price objective on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Five investment 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $372.84.

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.