Visa Inc. (NYSE:V) Shares Sold by PPS&V Asset Management Consultants Inc.

PPS&V Asset Management Consultants Inc. cut its position in shares of Visa Inc. (NYSE:V) by 2.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,368 shares of the credit-card processor’s stock after selling 34 shares during the quarter. Visa accounts for 0.3% of PPS&V Asset Management Consultants Inc.’s portfolio, making the stock its 23rd largest position. PPS&V Asset Management Consultants Inc.’s holdings in Visa were worth $479,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Visa during the 4th quarter valued at $27,000. POM Investment Strategies LLC lifted its position in shares of Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after acquiring an additional 32 shares during the last quarter. Compass Planning Associates Inc acquired a new stake in shares of Visa during the 4th quarter valued at $32,000. NewSquare Capital LLC acquired a new stake in shares of Visa during the 4th quarter valued at $35,000. Finally, FPC Investment Advisory Inc. lifted its position in shares of Visa by 377.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock valued at $36,000 after acquiring an additional 83 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 11,636 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the sale, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the sale, the chief executive officer now directly owns 537 shares in the company, valued at approximately $185,576.46. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 140,448 shares of company stock valued at $50,133,659 over the last three months. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on V. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Citigroup started coverage on Visa in a report on Monday, June 2nd. They issued a “buy” rating for the company. Jefferies Financial Group increased their target price on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. The Goldman Sachs Group started coverage on Visa in a report on Monday, June 2nd. They issued a “neutral” rating for the company. Finally, Truist Financial started coverage on Visa in a report on Monday, June 2nd. They issued a “buy” rating and a $400.00 target price for the company. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $372.80.

Visa Trading Down 0.6%

Visa stock opened at $371.11 on Friday. 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 company has a market capitalization of $684.76 billion, a price-to-earnings ratio of 37.41, a PEG ratio of 2.33 and a beta of 0.94. Visa Inc. has a one year low of $252.70 and a one year high of $375.51. The company’s fifty day moving average price is $348.87 and its two-hundred day moving average price is $337.17.

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

Visa Dividend Announcement

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

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.