Great Lakes Retirement Inc. Increases Stake in Visa Inc. (NYSE:V)

Great Lakes Retirement Inc. lifted its stake in shares of Visa Inc. (NYSE:V) by 2.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,566 shares of the credit-card processor’s stock after acquiring an additional 1,181 shares during the period. Visa accounts for about 1.8% of Great Lakes Retirement Inc.’s investment portfolio, making the stock its 13th largest position. Great Lakes Retirement Inc.’s holdings in Visa were worth $11,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. Livelsberger Financial Advisory purchased a new position in Visa in the fourth quarter valued at approximately $25,000. Westend Capital Management LLC purchased a new position in Visa in the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new position in Visa in the fourth quarter valued at approximately $32,000. Frank Rimerman Advisors LLC purchased a new position in Visa in the fourth quarter valued at approximately $33,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new position in Visa in the fourth quarter valued at approximately $40,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on V. Wedbush increased their price objective on shares of Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. JPMorgan Chase & Co. lowered their price objective on shares of Visa from $302.00 to $300.00 and set an “overweight” rating for the company in a research report on Thursday. Mizuho increased their price objective on shares of Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Royal Bank of Canada increased their price objective on shares of Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, Evercore ISI decreased their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Six research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $304.72.

Insider Buying and Selling at Visa

In other Visa 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 approximately $713,950.05. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Visa news, 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 transaction 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $250,474.95. Following the sale, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

Visa Price Performance

V stock traded down $3.69 during trading on Friday, hitting $265.46. The company had a trading volume of 6,552,653 shares, compared to its average volume of 6,858,849. The firm has a market capitalization of $485.51 billion, a price-to-earnings ratio of 29.66, a P/E/G ratio of 1.90 and a beta of 0.95. The business has a 50 day moving average of $272.00 and a 200 day moving average of $274.22. Visa Inc. has a fifty-two week low of $227.68 and a fifty-two week high of $290.96. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53.

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

Visa Announces Dividend

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

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.