Smith Anglin Financial LLC Decreases Stock Position in Visa Inc. (NYSE:V)

Smith Anglin Financial LLC trimmed its stake in shares of Visa Inc. (NYSE:V) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,505 shares of the credit-card processor’s stock after selling 88 shares during the quarter. Smith Anglin Financial LLC’s holdings in Visa were worth $1,929,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of V. Hirtle Callaghan & Co LLC lifted its stake in Visa by 1.3% during the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock valued at $724,000 after purchasing an additional 29 shares during the last quarter. FWL Investment Management LLC increased its holdings in shares of Visa by 0.5% in the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor’s stock valued at $2,005,000 after buying an additional 29 shares in the last quarter. Elevation Wealth Partners LLC increased its holdings in shares of Visa by 3.3% in the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock valued at $297,000 after buying an additional 30 shares in the last quarter. Warther Private Wealth LLC lifted its position in shares of Visa by 1.0% during the 4th quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock valued at $928,000 after acquiring an additional 30 shares during the last quarter. Finally, Valmark Advisers Inc. boosted its stake in shares of Visa by 0.4% during the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock worth $2,292,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Visa stock opened at $365.14 on Tuesday. The stock’s 50 day moving average is $343.82 and its 200 day moving average is $334.27. Visa Inc. has a one year low of $252.70 and a one year high of $369.15. The firm has a market cap of $673.74 billion, a P/E ratio of 36.81, a P/E/G ratio of 2.33 and a beta of 0.96. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the previous year, the company earned $2.51 EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.65%. Visa’s payout ratio is 23.72%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on V shares. The Goldman Sachs Group began coverage on shares of Visa in a research note on Monday. They set a “neutral” rating for the company. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Visa in a research report on Thursday, February 13th. Macquarie lowered their price target on Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Truist Financial started coverage on shares of Visa in a research note on Monday. They set a “buy” rating and a $400.00 price target on the stock. Finally, Susquehanna restated a “positive” rating on shares of Visa in a research report on Friday, March 21st. Six equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $367.48.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 14,813 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $355.04, for a total value of $5,259,207.52. Following the completion of the sale, the insider now directly owns 26,413 shares in the company, valued at approximately $9,377,671.52. This trade represents a 35.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction 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 completion of the sale, the general counsel now directly owns 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,328 shares of company stock valued at $38,419,222. 0.13% of the stock is currently owned by insiders.

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.