Shorepath Capital Management LLC Has $8.30 Million Stock Position in Visa Inc. (NYSE:V)

Shorepath Capital Management LLC lessened its stake in Visa Inc. (NYSE:V) by 2.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,262 shares of the credit-card processor’s stock after selling 647 shares during the period. Visa accounts for 5.9% of Shorepath Capital Management LLC’s portfolio, making the stock its 5th biggest holding. Shorepath Capital Management LLC’s holdings in Visa were worth $8,300,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wulff Hansen & CO. boosted its position in shares of Visa by 26,951.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock valued at $416,788,000 after purchasing an additional 1,582,074 shares in the last quarter. WealthPLAN Partners LLC boosted its position in shares of Visa by 1.8% during the 2nd quarter. WealthPLAN Partners LLC now owns 14,183 shares of the credit-card processor’s stock valued at $3,723,000 after purchasing an additional 254 shares in the last quarter. Luts & Greenleigh Group Inc. bought a new position in shares of Visa during the 2nd quarter valued at about $335,000. Lmcg Investments LLC boosted its position in shares of Visa by 1.7% during the 2nd quarter. Lmcg Investments LLC now owns 73,016 shares of the credit-card processor’s stock valued at $19,165,000 after purchasing an additional 1,228 shares in the last quarter. Finally, Excalibur Management Corp boosted its position in shares of Visa by 0.9% during the 2nd quarter. Excalibur Management Corp now owns 13,407 shares of the credit-card processor’s stock valued at $3,519,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Macquarie raised their price objective on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group upped their price objective on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Robert W. Baird upped their price objective on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler upped their price objective on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Visa from $335.00 to $360.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $331.92.

Visa Trading Up 0.8 %

NYSE:V opened at $309.24 on Wednesday. The stock’s 50 day moving average price is $312.76 and its 200 day moving average price is $287.65. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $321.61. The company has a market capitalization of $576.08 billion, a P/E ratio of 31.78, a P/E/G ratio of 2.11 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the company posted $2.33 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis. On average, research analysts forecast that Visa Inc. will post 11.23 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a $0.59 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 24.25%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.