Laird Norton Wetherby Wealth Management LLC Has $19.33 Million Position in Visa Inc. $V

Laird Norton Wetherby Wealth Management LLC boosted its holdings in Visa Inc. (NYSE:V) by 3.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,616 shares of the credit-card processor’s stock after acquiring an additional 1,636 shares during the period. Visa accounts for 0.8% of Laird Norton Wetherby Wealth Management LLC’s holdings, making the stock its 18th biggest position. Laird Norton Wetherby Wealth Management LLC’s holdings in Visa were worth $19,328,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC lifted its stake in shares of Visa by 6.8% during the 3rd quarter. Larson Financial Group LLC now owns 27,069 shares of the credit-card processor’s stock worth $9,241,000 after buying an additional 1,733 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new position in Visa in the 3rd quarter valued at about $18,820,000. Integrated Wealth Concepts LLC grew its stake in Visa by 0.3% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 97,782 shares of the credit-card processor’s stock valued at $33,381,000 after buying an additional 336 shares during the last quarter. JPL Wealth Management LLC raised its holdings in Visa by 24.9% in the 3rd quarter. JPL Wealth Management LLC now owns 1,711 shares of the credit-card processor’s stock valued at $584,000 after acquiring an additional 341 shares during the period. Finally, Junto Capital Management LP bought a new position in Visa in the 3rd quarter valued at about $110,031,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on V shares. Freedom Capital upgraded Visa from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. Piper Sandler set a $160.00 target price on Visa in a research note on Wednesday, January 28th. Macquarie Infrastructure reissued an “outperform” rating and set a $410.00 price target on shares of Visa in a report on Friday, January 30th. TD Cowen restated a “buy” rating on shares of Visa in a research note on Friday, January 30th. Finally, Cantor Fitzgerald raised Visa to a “strong-buy” rating in a report on Tuesday, January 27th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $392.65.

Visa Trading Up 1.0%

Shares of V opened at $310.10 on Tuesday. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51. The business’s fifty day moving average is $324.62 and its 200-day moving average is $335.62. 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 firm has a market cap of $562.88 billion, a price-to-earnings ratio of 29.09, a PEG ratio of 1.76 and a beta of 0.78.

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

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th were issued a $0.67 dividend. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.9%. Visa’s dividend payout ratio is 25.14%.

Insider Buying and Selling

In other news, Director Lloyd Carney sold 650 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total value of $201,253.00. Following the sale, the director directly owned 2,679 shares in the company, valued at approximately $829,471.98. This trade represents a 19.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa 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 sale, the chief executive officer directly owned 9,401 shares in the company, valued at $3,282,641.18. This trade represents a 52.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.12% of the company’s stock.

Visa Profile

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.