Visa Inc. (NYSE:V) Holdings Decreased by Great Lakes Retirement Inc.

Great Lakes Retirement Inc. reduced its holdings in Visa Inc. (NYSE:V) by 66.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,710 shares of the credit-card processor’s stock after selling 30,700 shares during the period. Great Lakes Retirement Inc.’s holdings in Visa were worth $5,506,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Lakeridge Wealth Management LLC lifted its position in shares of Visa by 5.7% in the first 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 in the last quarter. Blue Rock Wealth Management LLC purchased a new stake in Visa in the 4th quarter worth approximately $306,000. Aptus Capital Advisors LLC boosted its stake in shares of Visa by 19.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock valued at $57,727,000 after buying an additional 30,185 shares during the period. King Wealth Management Group grew its holdings in shares of Visa by 9.0% during the 4th 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 increased its stake in shares of Visa by 2.5% in the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock worth $811,000 after acquiring an additional 63 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on V shares. William Blair reissued an “outperform” rating on shares of Visa in a research report on Wednesday, April 30th. Evercore ISI assumed 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. Wall Street Zen upgraded Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Macquarie cut their price objective on shares of Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Finally, Jefferies Financial Group boosted their target price on shares of Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $372.80.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total value of $3,020,792.80. Following the completion of the transaction, the chief executive officer now directly owns 537 shares in the company, valued at approximately $188,186.28. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of the firm’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the transaction, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 140,448 shares of company stock valued at $50,133,659. Insiders own 0.13% of the company’s stock.

Visa Stock Performance

V opened at $355.23 on Tuesday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The firm has a market capitalization of $655.46 billion, a P/E ratio of 35.81, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The stock’s 50 day moving average price is $350.71 and its two-hundred day moving average price is $338.05. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The business had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter last year, the company posted $2.51 earnings per share. Visa’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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

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.