Dividend Assets Capital LLC Has $18.26 Million Holdings in Visa Inc. (NYSE:V)

Dividend Assets Capital LLC lowered its position in Visa Inc. (NYSE:V) by 12.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,099 shares of the credit-card processor’s stock after selling 7,293 shares during the period. Visa comprises about 3.5% of Dividend Assets Capital LLC’s investment portfolio, making the stock its 5th biggest holding. Dividend Assets Capital LLC’s holdings in Visa were worth $18,259,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Ibex Wealth Advisors grew its holdings in shares of Visa by 7.8% in the first quarter. Ibex Wealth Advisors now owns 45,680 shares of the credit-card processor’s stock worth $16,009,000 after acquiring an additional 3,307 shares during the period. Manitou Investment Management Ltd. grew its holdings in shares of Visa by 25.0% in the first quarter. Manitou Investment Management Ltd. now owns 4,094 shares of the credit-card processor’s stock worth $1,435,000 after acquiring an additional 819 shares during the period. SJS Investment Consulting Inc. grew its holdings in Visa by 1.8% during the first quarter. SJS Investment Consulting Inc. now owns 10,852 shares of the credit-card processor’s stock valued at $3,803,000 after purchasing an additional 190 shares during the period. Sonora Investment Management Group LLC grew its holdings in Visa by 3.7% during the first quarter. Sonora Investment Management Group LLC now owns 53,761 shares of the credit-card processor’s stock valued at $18,841,000 after purchasing an additional 1,926 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Visa by 4.1% during the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 65,915 shares of the credit-card processor’s stock valued at $23,093,000 after purchasing an additional 2,600 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $362.77, for a total value of $3,127,077.40. Following the transaction, the chief executive officer now owns 537 shares of the company’s stock, valued at $194,807.49. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider now directly owns 26,413 shares in the company, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 168,162 shares of company stock valued at $58,645,479. 0.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on V shares. Truist Financial started coverage on Visa in a report on Monday, June 2nd. They set a “buy” rating and a $400.00 price target for the company. BMO Capital Markets boosted their price target on Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Citigroup started coverage on Visa in a report on Monday, June 2nd. They set a “buy” rating for the company. Macquarie cut their price target on Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Finally, Mizuho raised Visa from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $372.80.

Visa Trading Up 1.2%

Shares of V stock opened at $370.89 on Wednesday. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $371.44. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The stock’s 50 day simple moving average is $346.49 and its two-hundred day simple moving average is $336.52. The company has a market cap of $684.35 billion, a PE ratio of 37.39, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The business had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the prior year, the business posted $2.51 earnings per share. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. Research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.64%. Visa’s dividend payout ratio is 23.72%.

Visa Company 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.