Zhang Financial LLC Has $2.04 Million Stock Holdings in Visa Inc. (NYSE:V)

Zhang Financial LLC trimmed its holdings in shares of Visa Inc. (NYSE:V) by 7.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 5,826 shares of the credit-card processor’s stock after selling 453 shares during the period. Zhang Financial LLC’s holdings in Visa were worth $2,042,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Blue Rock Wealth Management LLC acquired a new stake in Visa in the fourth quarter valued at approximately $306,000. Aptus Capital Advisors LLC lifted its holdings in Visa by 19.8% in the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock valued at $57,727,000 after buying an additional 30,185 shares during the period. King Wealth Management Group lifted its holdings in Visa by 9.0% in the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock valued at $23,663,000 after buying an additional 6,172 shares during the period. Eagle Strategies LLC lifted its holdings in Visa by 2.5% in the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock valued at $811,000 after buying an additional 63 shares during the period. Finally, Generali Investments CEE investicni spolecnost a.s. acquired a new position in Visa in the fourth quarter valued at $10,163,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

V has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Citigroup assumed coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “buy” rating for the company. The Goldman Sachs Group assumed coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “neutral” rating for the company. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $372.80.

Visa Trading Up 0.7%

Shares of V stock opened at $373.19 on Thursday. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The company has a 50-day simple moving average of $347.68 and a two-hundred day simple moving average of $336.77. The company has a market capitalization of $688.59 billion, a price-to-earnings ratio of 37.62, a PEG 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, 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 business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the prior year, the firm posted $2.51 EPS. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. Research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Tuesday, May 13th. Visa’s payout ratio is 23.72%.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 46,214 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the sale, the insider now directly owns 26,413 shares in the company, valued at approximately $9,772,810. This represents a 63.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 owns 11,925 shares in the company, valued at $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,162 shares of company stock valued at $58,645,479. Corporate insiders own 0.13% of the company’s stock.

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.