Eagle Rock Investment Company LLC Has $8.60 Million Stake in Visa Inc. (NYSE:V)

Eagle Rock Investment Company LLC trimmed its position in shares of Visa Inc. (NYSE:V) by 3.4% during the first quarter, Holdings Channel.com reports. The institutional investor owned 30,830 shares of the credit-card processor’s stock after selling 1,101 shares during the period. Visa accounts for 1.6% of Eagle Rock Investment Company LLC’s investment portfolio, making the stock its 16th largest holding. Eagle Rock Investment Company LLC’s holdings in Visa were worth $8,604,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Westend Capital Management LLC bought a new position in Visa during the first quarter worth $25,000. Livelsberger Financial Advisory bought a new position in Visa during the fourth quarter worth $25,000. O Brien Wealth Partners LLC bought a new position in Visa during the fourth quarter worth $32,000. Frank Rimerman Advisors LLC bought a new position in Visa during the fourth quarter worth $33,000. Finally, Valued Wealth Advisors LLC bought a new position in Visa during the fourth quarter worth $37,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Macquarie lifted their price objective on shares of Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Robert W. Baird boosted their target price on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Redburn Atlantic reissued a “neutral” rating and issued a $307.00 target price on shares of Visa in a research report on Wednesday, March 27th. William Blair reissued an “outperform” rating on shares of Visa in a research report on Wednesday, April 24th. Finally, Wedbush boosted their target price on shares of Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $303.56.

Insiders Place Their Bets

In other news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly 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. Over the last 90 days, insiders sold 34,402 shares of company stock valued at $9,559,382. 0.19% of the stock is currently owned by corporate insiders.

Visa Price Performance

NYSE V traded down $2.64 during trading on Tuesday, hitting $273.66. 19,896,519 shares of the company’s stock were exchanged, compared to its average volume of 6,662,618. 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 market cap of $500.51 billion, a PE ratio of 30.58, a P/E/G ratio of 1.88 and a beta of 0.97. Visa Inc. has a fifty-two week low of $226.02 and a fifty-two week high of $290.96. The stock’s 50 day moving average price is $274.11 and its two-hundred day moving average price is $273.41.

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

Visa Announces Dividend

The firm also recently announced 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. This represents a $2.08 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s payout ratio is 23.24%.

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.