Westerkirk Capital Inc. Buys 3,287 Shares of Visa Inc. $V

Westerkirk Capital Inc. lifted its stake in shares of Visa Inc. (NYSE:V) by 8.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,053 shares of the credit-card processor’s stock after purchasing an additional 3,287 shares during the quarter. Visa comprises approximately 1.7% of Westerkirk Capital Inc.’s portfolio, making the stock its 10th biggest position. Westerkirk Capital Inc.’s holdings in Visa were worth $14,697,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of V. Insight Wealth Strategies LLC boosted its holdings in shares of Visa by 1.6% in the third quarter. Insight Wealth Strategies LLC now owns 1,875 shares of the credit-card processor’s stock valued at $640,000 after acquiring an additional 29 shares in the last quarter. Old Port Advisors lifted its position in Visa by 0.9% in the third quarter. Old Port Advisors now owns 3,423 shares of the credit-card processor’s stock valued at $1,169,000 after purchasing an additional 29 shares during the period. Interchange Capital Partners LLC lifted its position in Visa by 0.5% in the second quarter. Interchange Capital Partners LLC now owns 6,413 shares of the credit-card processor’s stock valued at $2,276,000 after purchasing an additional 30 shares during the period. Carr Financial Group Corp boosted its holdings in Visa by 2.4% in the 3rd quarter. Carr Financial Group Corp now owns 1,290 shares of the credit-card processor’s stock valued at $440,000 after purchasing an additional 30 shares in the last quarter. Finally, Define Financial LLC increased its position in Visa by 4.0% during the 3rd quarter. Define Financial LLC now owns 779 shares of the credit-card processor’s stock worth $266,000 after purchasing an additional 30 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the completion of the transaction, the chief executive officer directly owned 9,401 shares of the company’s stock, valued at $3,282,641.18. This trade represents a 52.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.12% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

V has been the subject of several recent analyst reports. Daiwa Securities Group raised Visa from a “neutral” rating to an “outperform” rating and set a $370.00 price target for the company in a report on Monday, February 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research report on Wednesday, January 21st. Morgan Stanley restated an “overweight” rating and set a $411.00 target price (up from $398.00) on shares of Visa in a research report on Friday, January 30th. TD Cowen reaffirmed a “buy” rating on shares of Visa in a research note on Friday, January 30th. Finally, Piper Sandler set a $160.00 price target on shares of Visa in a report on Wednesday, January 28th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $391.43.

Visa Stock Up 0.6%

V opened at $320.90 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $582.49 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 1.84 and a beta of 0.79. Visa Inc. has a one year low of $299.00 and a one year high of $375.51. The business’s fifty day moving average is $336.40 and its two-hundred day moving average is $338.96.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.03. Visa had a return on equity of 61.74% and a net margin of 50.23%.The business had revenue of $10.90 billion during the quarter, compared to analysts’ expectations of $10.69 billion. During the same quarter last year, the business posted $2.75 earnings per share. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. Analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, February 10th. Visa’s dividend payout ratio is 25.14%.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.