Lyell Wealth Management LP Grows Stock Holdings in Visa Inc (NYSE:V)

Lyell Wealth Management LP raised its position in Visa Inc (NYSE:V) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,323 shares of the credit-card processor’s stock after acquiring an additional 913 shares during the quarter. Visa makes up 1.6% of Lyell Wealth Management LP’s investment portfolio, making the stock its 24th largest position. Lyell Wealth Management LP’s holdings in Visa were worth $7,210,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in V. Ballast Advisors LLC increased its position in shares of Visa by 19.2% during the second quarter. Ballast Advisors LLC now owns 6,783 shares of the credit-card processor’s stock valued at $1,310,000 after buying an additional 1,092 shares during the period. Chartwell Investment Partners LLC increased its position in shares of Visa by 3.6% during the second quarter. Chartwell Investment Partners LLC now owns 67,953 shares of the credit-card processor’s stock valued at $13,127,000 after buying an additional 2,383 shares during the period. State of Michigan Retirement System increased its position in shares of Visa by 5.6% during the second quarter. State of Michigan Retirement System now owns 905,349 shares of the credit-card processor’s stock valued at $174,886,000 after buying an additional 48,105 shares during the period. Everett Harris & Co. CA increased its position in shares of Visa by 54.3% during the second quarter. Everett Harris & Co. CA now owns 87,961 shares of the credit-card processor’s stock valued at $16,991,000 after buying an additional 30,943 shares during the period. Finally, Silversage Advisors purchased a new position in shares of Visa during the second quarter valued at about $234,000. Hedge funds and other institutional investors own 81.41% of the company’s stock.

In other Visa news, insider Rajat Taneja sold 3,279 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $202.02, for a total transaction of $662,423.58. Following the completion of the sale, the insider now directly owns 221,282 shares of the company’s stock, valued at $44,703,389.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Ryan Mcinerney sold 26,150 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $191.87, for a total transaction of $5,017,400.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,429 shares of company stock valued at $9,746,754. 0.19% of the stock is owned by corporate insiders.

V has been the topic of several research analyst reports. Morgan Stanley boosted their price target on shares of Visa from $196.00 to $203.00 and gave the company an “overweight” rating in a research report on Tuesday. JPMorgan Chase & Co. dropped their price objective on shares of Visa from $203.00 to $186.00 and set an “overweight” rating on the stock in a research note on Wednesday. Zacks Investment Research raised shares of Visa from a “sell” rating to a “hold” rating and set a $181.00 price objective on the stock in a research note on Sunday, May 3rd. Piper Sandler boosted their price objective on shares of Visa from $200.00 to $206.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Wedbush boosted their price objective on shares of Visa from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Seven investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $207.56.

Visa stock traded down $3.66 during midday trading on Friday, reaching $190.40. 14,186,004 shares of the company traded hands, compared to its average volume of 7,102,219. The firm has a market capitalization of $377.15 billion, a price-to-earnings ratio of 36.07, a price-to-earnings-growth ratio of 3.09 and a beta of 0.92. The business has a 50 day moving average of $194.04 and a two-hundred day moving average of $187.14. Visa Inc has a 12 month low of $133.93 and a 12 month high of $214.17. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.25.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.05. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.85 billion. Visa had a net margin of 51.37% and a return on equity of 40.65%. The firm’s revenue for the quarter was down 18.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.37 earnings per share. As a group, equities analysts forecast that Visa Inc will post 4.98 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $1.20 dividend on an annualized basis and a yield of 0.63%. Visa’s dividend payout ratio is currently 22.06%.

Visa Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

See Also: Limitations of the P/E Growth ratio

Institutional Ownership by Quarter for Visa (NYSE:V)

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