Towerpoint Wealth LLC Has $286,000 Holdings in Visa Inc. (NYSE:V)

Towerpoint Wealth LLC trimmed its stake in Visa Inc. (NYSE:V) by 11.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 815 shares of the credit-card processor’s stock after selling 104 shares during the period. Towerpoint Wealth LLC’s holdings in Visa were worth $286,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Capital & Planning LLC grew its stake in shares of Visa by 21.2% in the fourth quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor’s stock valued at $300,000 after buying an additional 166 shares in the last quarter. Sovereign Investment Advisors LLC bought a new stake in shares of Visa in the 4th quarter valued at about $424,000. Brighton Jones LLC raised its stake in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after buying an additional 6,883 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of Visa during the 4th quarter worth approximately $202,074,000. Finally, Revolve Wealth Partners LLC boosted its holdings in shares of Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after buying an additional 4,817 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insiders Place Their Bets

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction on Friday, March 14th. The shares were sold at an average price of $327.20, for a total value of $12,875,320.00. Following the completion of the transaction, the insider now owns 26,413 shares of the company’s stock, valued at approximately $8,642,333.60. This trade represents a 59.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,328 shares of company stock valued at $38,419,222. Company insiders own 0.13% of the company’s stock.

Visa Stock Up 0.8%

Shares of NYSE:V opened at $365.43 on Monday. The stock has a market cap of $674.28 billion, a price-to-earnings ratio of 36.84, a PEG ratio of 2.33 and a beta of 0.96. The business’s 50 day moving average is $343.40 and its 200 day moving average is $333.88. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $369.15. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the prior year, the company posted $2.51 earnings per share. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.65%. Visa’s dividend payout ratio (DPR) is presently 23.72%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on V. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a research report on Thursday, February 13th. Piper Sandler upped their price target on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. BMO Capital Markets lifted their price objective on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. William Blair reaffirmed an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. Finally, Macquarie cut their price target on Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Six research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Visa has an average rating of “Moderate Buy” and an average price target of $366.13.

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.