Westside Investment Management Inc. Boosts Stock Position in Visa Inc. (NYSE:V)

Westside Investment Management Inc. lifted its holdings in Visa Inc. (NYSE:V) by 13.5% in the first quarter, HoldingsChannel reports. The firm owned 758 shares of the credit-card processor’s stock after purchasing an additional 90 shares during the quarter. Westside Investment Management Inc.’s holdings in Visa were worth $212,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Livelsberger Financial Advisory purchased a new position in Visa during the fourth quarter worth $25,000. Westend Capital Management LLC purchased a new position in Visa during the first quarter worth $25,000. O Brien Wealth Partners LLC purchased a new position in Visa during the fourth quarter worth $32,000. Frank Rimerman Advisors LLC purchased a new position in Visa during the fourth quarter worth $33,000. Finally, Valued Wealth Advisors LLC purchased a new position in Visa during the fourth quarter worth $37,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on V. Citigroup lifted their price objective on shares of Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Robert W. Baird lifted their target price on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Royal Bank of Canada lifted their target price on Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Piper Sandler started coverage on Visa in a research report on Monday, May 13th. They set an “overweight” rating and a $322.00 target price for the company. Finally, Mizuho lifted their target price on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $303.56.

Insider Transactions at Visa

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

Visa Stock Performance

Shares of Visa stock opened at $268.99 on Friday. The company has a market capitalization of $491.97 billion, a PE ratio of 30.05, a P/E/G ratio of 1.84 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. The company has a 50-day simple moving average of $273.45 and a two-hundred day simple moving average of $273.65. Visa Inc. has a one year low of $227.68 and a one year high of $290.96.

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

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.77%. Visa’s payout ratio is 23.24%.

Visa Company 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.