Lord & Richards Wealth Management LLC Invests $611,000 in Visa Inc. (NYSE:V)

Lord & Richards Wealth Management LLC acquired a new stake in shares of Visa Inc. (NYSE:V) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,933 shares of the credit-card processor’s stock, valued at approximately $611,000. Visa makes up 1.3% of Lord & Richards Wealth Management LLC’s investment portfolio, making the stock its 24th biggest position.

A number of other institutional investors also recently made changes to their positions in the stock. State Street Corp lifted its holdings in shares of Visa by 4.5% in the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after buying an additional 3,327,977 shares during the period. FMR LLC increased its position in shares of Visa by 6.1% in the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after acquiring an additional 3,265,518 shares in the last quarter. Geode Capital Management LLC grew its position in Visa by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after purchasing an additional 2,772,549 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Visa by 1.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,597,969 shares of the credit-card processor’s stock valued at $3,188,862,000 after purchasing an additional 123,927 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Visa by 6.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,522,445 shares of the credit-card processor’s stock worth $3,168,096,000 after acquiring an additional 670,590 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Down 0.5 %

Shares of NYSE:V opened at $353.73 on Tuesday. The company has a market capitalization of $657.15 billion, a PE ratio of 35.66, a P/E/G ratio of 2.32 and a beta of 0.97. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $356.08. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.28 and a current ratio of 1.12. The company’s fifty day moving average is $325.14 and its 200-day moving average is $299.42.

Visa (NYSE:V) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Equities research analysts predict that Visa Inc. will post 11.27 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

Analysts Set New Price Targets

A number of research firms have issued reports on V. Barclays increased their target price on shares of Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Citigroup raised their price objective on Visa from $354.00 to $393.00 and gave the company a “buy” rating in a research note on Friday, January 31st. The Goldman Sachs Group boosted their target price on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and set a $383.00 price target (up from $368.00) on shares of Visa in a report on Friday, January 31st. Finally, Morgan Stanley raised their price objective on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $354.73.

Insider Activity

In related news, insider Tullier Kelly Mahon sold 33,741 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the transaction, the insider now directly owns 36,566 shares in the company, valued at $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction 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. This trade represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,056 shares of company stock valued at $19,830,050. Company insiders own 0.13% of the company’s stock.

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.