LRI Investments LLC Sells 407 Shares of Visa Inc. (NYSE:V)

LRI Investments LLC trimmed its stake in Visa Inc. (NYSE:V) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,465 shares of the credit-card processor’s stock after selling 407 shares during the period. Visa comprises about 0.8% of LRI Investments LLC’s investment portfolio, making the stock its 17th largest position. LRI Investments LLC’s holdings in Visa were worth $9,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of V. Lionshead Wealth Management LLC acquired a new position in shares of Visa in the 4th quarter worth approximately $271,000. Investor s Fiduciary Advisor Network LLC acquired a new position in Visa in the fourth quarter worth $3,684,000. J. Goldman & Co LP acquired a new stake in shares of Visa in the fourth quarter valued at $4,398,000. Junto Capital Management LP increased its stake in shares of Visa by 187.8% in the fourth quarter. Junto Capital Management LP now owns 144,691 shares of the credit-card processor’s stock valued at $45,728,000 after buying an additional 94,423 shares in the last quarter. Finally, KKM Financial LLC raised its holdings in shares of Visa by 4.0% in the fourth quarter. KKM Financial LLC now owns 10,634 shares of the credit-card processor’s stock valued at $3,361,000 after buying an additional 411 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $327.20, for a total value of $12,875,320.00. Following the sale, the insider now owns 26,413 shares of the company’s stock, valued at $8,642,333.60. This trade represents a 59.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the sale, the general counsel now owns 11,925 shares in the company, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 121,948 shares of company stock worth $41,548,282 over the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Bank of America increased their price objective on shares of Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Piper Sandler increased their price target on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. UBS Group lowered their price target on shares of Visa from $400.00 to $395.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. BMO Capital Markets upped their price objective on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Finally, StockNews.com cut Visa from a “buy” rating to a “hold” rating in a research note on Wednesday, April 16th. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $362.38.

Visa Stock Up 0.5%

Shares of NYSE V opened at $352.95 on Monday. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $366.54. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $655.70 billion, a P/E ratio of 35.58, a P/E/G ratio of 2.33 and a beta of 0.96. The firm has a 50 day moving average price of $336.98 and a 200 day moving average price of $327.32.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating 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 company had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the previous year, the business earned $2.51 EPS. The firm’s revenue was up 9.3% on a year-over-year basis. Analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. Visa’s payout ratio is 23.72%.

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.