L & S Advisors Inc Has $7.90 Million Stock Holdings in Visa Inc. $V

L & S Advisors Inc increased its position in shares of Visa Inc. (NYSE:V) by 2,448.7% in the second quarter, HoldingsChannel reports. The firm owned 22,250 shares of the credit-card processor’s stock after purchasing an additional 21,377 shares during the period. L & S Advisors Inc’s holdings in Visa were worth $7,900,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after acquiring an additional 1,677,088 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Visa by 2.5% during the second quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock worth $15,253,245,000 after purchasing an additional 1,067,631 shares during the last quarter. Northern Trust Corp increased its stake in shares of Visa by 4.0% in the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock valued at $6,654,189,000 after buying an additional 726,299 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock valued at $5,003,569,000 after buying an additional 955,392 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Visa by 3.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor’s stock worth $4,442,157,000 after buying an additional 434,217 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on V. Erste Group Bank cut shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Truist Financial dropped their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Macquarie lowered their target price on Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Visa in a research report on Thursday, July 17th. They set a “buy” rating and a $410.00 target price for the company. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $400.00.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,117. This trade represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,897 shares of company stock worth $8,164,561 in the last ninety days. Company insiders own 0.13% of the company’s stock.

Visa Price Performance

V opened at $335.76 on Friday. The company has a fifty day moving average price of $342.43 and a two-hundred day moving average price of $348.69. The firm has a market capitalization of $615.37 billion, a PE ratio of 32.89, a P/E/G ratio of 2.05 and a beta of 0.87. Visa Inc. has a 52 week low of $299.00 and a 52 week high of $375.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The business had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same period last year, the company earned $2.71 EPS. The firm’s revenue was up 11.5% on a year-over-year basis. As a group, analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a $0.67 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. This is a positive change from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio is 26.25%.

Visa Company 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.