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

L & S Advisors Inc grew its position in shares of Visa Inc. (NYSE:V) by 2,448.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,250 shares of the credit-card processor’s stock after buying an additional 21,377 shares during the quarter. L & S Advisors Inc’s holdings in Visa were worth $7,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. WP Advisors LLC lifted its stake in Visa by 2.1% in the second quarter. WP Advisors LLC now owns 24,675 shares of the credit-card processor’s stock valued at $8,761,000 after acquiring an additional 511 shares during the last quarter. Omega Financial Group LLC increased its stake in shares of Visa by 9.9% during the 2nd quarter. Omega Financial Group LLC now owns 3,517 shares of the credit-card processor’s stock worth $1,249,000 after purchasing an additional 317 shares during the last quarter. Ignite Planners LLC raised its holdings in shares of Visa by 2.7% during the 2nd quarter. Ignite Planners LLC now owns 3,465 shares of the credit-card processor’s stock valued at $1,210,000 after purchasing an additional 91 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in shares of Visa by 3.7% in the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 334,921 shares of the credit-card processor’s stock valued at $118,866,000 after purchasing an additional 12,011 shares during the last quarter. Finally, Hibernia Wealth Partners LLC acquired a new stake in shares of Visa in the 2nd quarter valued at $260,000. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on V. Truist Financial lowered their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Robert W. Baird set a $425.00 price target on Visa in a research note on Wednesday, October 29th. Morgan Stanley set a $398.00 price objective on Visa and gave the company an “overweight” rating in a report on Wednesday, October 29th. UBS Group set a $425.00 target price on Visa and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Macquarie lowered their price target on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $400.00.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s 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 completion of the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at $183,117. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 23,897 shares of company stock worth $8,164,561. 0.13% of the stock is currently owned by company insiders.

Visa Trading Down 0.9%

Shares of Visa stock opened at $335.76 on Friday. The company has a market cap of $615.37 billion, a price-to-earnings ratio of 32.89, a PEG ratio of 2.05 and a beta of 0.87. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The company’s fifty day simple moving average is $342.43 and its 200-day simple moving average is $348.69. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53.

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. The company had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the business posted $2.71 EPS. As a group, sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

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

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.