Visa Inc. (NYSE:V) Shares Bought by Leonard Rickey Investment Advisors P.L.L.C.

Leonard Rickey Investment Advisors P.L.L.C. raised its stake in shares of Visa Inc. (NYSE:V) by 9.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,845 shares of the credit-card processor’s stock after acquiring an additional 243 shares during the period. Leonard Rickey Investment Advisors P.L.L.C.’s holdings in Visa were worth $794,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Westend Capital Management LLC purchased a new stake in Visa during the 1st quarter worth approximately $25,000. Livelsberger Financial Advisory purchased a new stake in shares of Visa during the fourth quarter worth $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of Visa in the fourth quarter valued at $32,000. Frank Rimerman Advisors LLC purchased a new position in Visa in the fourth quarter valued at $33,000. Finally, Valued Wealth Advisors LLC acquired a new position in Visa during the 4th quarter worth $37,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Redburn Atlantic reaffirmed a “neutral” rating and issued a $307.00 target price on shares of Visa in a report on Wednesday, March 27th. Royal Bank of Canada lifted their price objective on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Mizuho increased their target price on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Robert W. Baird lifted their price target on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Finally, Wells Fargo & Company increased their price objective on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $303.56.

Visa Stock Performance

Shares of V opened at $268.16 on Wednesday. Visa Inc. has a 12-month low of $227.68 and a 12-month high of $290.96. The stock has a market cap of $490.45 billion, a P/E ratio of 29.96, a PEG ratio of 1.80 and a beta of 0.95. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average of $273.70 and a two-hundred day moving average of $273.61.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The company had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.09 earnings per share. As a group, research analysts predict that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were paid a dividend of $0.52 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.08 annualized dividend and a dividend yield of 0.78%. Visa’s dividend payout ratio is currently 23.24%.

Insider Transactions at Visa

In related news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the sale, the director now owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Lloyd Carney sold 909 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the transaction, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. Insiders own 0.19% 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.