Lake Street Private Wealth LLC Sells 3,027 Shares of Visa Inc. (NYSE:V)

Lake Street Private Wealth LLC lessened its position in shares of Visa Inc. (NYSE:V - Free Report) by 18.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,104 shares of the credit-card processor's stock after selling 3,027 shares during the quarter. Lake Street Private Wealth LLC's holdings in Visa were worth $4,141,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of V. Custom Index Systems LLC acquired a new position in Visa in the third quarter worth about $731,000. Copley Financial Group Inc. acquired a new position in shares of Visa in the 3rd quarter worth approximately $616,000. FORA Capital LLC bought a new position in shares of Visa during the 3rd quarter worth approximately $7,987,000. Chicago Capital LLC boosted its stake in Visa by 5.2% in the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor's stock valued at $111,331,000 after buying an additional 20,023 shares in the last quarter. Finally, Nexus Investment Management ULC grew its position in Visa by 5,034.0% in the third quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor's stock valued at $15,499,000 after acquiring an additional 55,273 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Royal Bank of Canada boosted their target price on shares of Visa from $311.00 to $322.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Morgan Stanley lifted their price target on shares of Visa from $326.00 to $371.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. BMO Capital Markets upped their price objective on shares of Visa from $310.00 to $320.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Citigroup lifted their target price on shares of Visa from $326.00 to $354.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. Finally, Piper Sandler increased their price target on Visa from $319.00 to $322.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $331.92.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now directly owns 17,894 shares of the company's stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.

Visa Trading Up 0.9 %

Shares of Visa stock traded up $2.72 on Monday, hitting $319.97. 5,746,152 shares of the company's stock traded hands, compared to its average volume of 5,703,089. Visa Inc. has a one year low of $252.70 and a one year high of $321.61. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market capitalization of $596.06 billion, a PE ratio of 32.88, a price-to-earnings-growth ratio of 2.06 and a beta of 0.96. The firm's 50-day moving average price is $313.41 and its two-hundred day moving average price is $288.73.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company's quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.33 earnings per share. On average, research analysts expect that Visa Inc. will post 11.22 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were paid a dividend of $0.59 per share. This is a positive change from Visa's previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.74%. Visa's dividend payout ratio (DPR) is presently 24.25%.

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.