Visa Inc. (NYSE:V) Shares Bought by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. increased its stake in shares of Visa Inc. (NYSE:V) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,395 shares of the credit-card processor’s stock after purchasing an additional 276 shares during the period. Visa accounts for about 2.5% of Lorne Steinberg Wealth Management Inc.’s holdings, making the stock its 9th biggest position. Lorne Steinberg Wealth Management Inc.’s holdings in Visa were worth $7,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of the stock. Altshuler Shaham Ltd acquired a new position in Visa in the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of Visa during the 4th quarter valued at $32,000. Nalls Sherbakoff Group LLC grew its stake in shares of Visa by 545.5% during the 3rd quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock valued at $33,000 after buying an additional 120 shares during the period. Valued Wealth Advisors LLC purchased a new stake in Visa during the 4th quarter worth $37,000. Finally, Macroview Investment Management LLC boosted its position in Visa by 1,019.2% during the 3rd quarter. Macroview Investment Management LLC now owns 291 shares of the credit-card processor’s stock worth $67,000 after purchasing an additional 265 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Peter M. Andreski sold 2,615 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the sale, the chief accounting officer now owns 4,898 shares in the company, valued at $1,365,954.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,965 shares of company stock worth $5,256,352. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Susquehanna upped their price target on shares of Visa from $300.00 to $326.00 and gave the stock a “positive” rating in a research report on Friday, January 26th. Raymond James boosted their price objective on shares of Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Citigroup boosted their price objective on shares of Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a report on Wednesday. KeyCorp boosted their price objective on shares of Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, January 8th. Finally, Robert W. Baird boosted their price objective on shares of Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $302.43.

Visa Stock Performance

NYSE V traded up $2.45 on Wednesday, hitting $276.56. The stock had a trading volume of 3,803,638 shares, compared to its average volume of 5,848,722. The company’s 50-day moving average is $279.49 and its two-hundred day moving average is $263.90. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.54. The stock has a market cap of $507.91 billion, a price-to-earnings ratio of 31.86, a P/E/G ratio of 1.88 and a beta of 0.96. Visa Inc. has a one year low of $216.14 and a one year high of $290.96.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.08. The business had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a net margin of 53.92% and a return on equity of 50.02%. The business’s revenue was up 9.9% on a year-over-year basis. During the same period last year, the firm posted $2.09 earnings per share. On average, analysts expect that Visa Inc. will post 9.88 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Thursday, February 8th. Visa’s payout ratio is 23.94%.

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.