Visa Inc. (NYSE:V) Shares Sold by Verity & Verity LLC

Verity & Verity LLC lessened its position in shares of Visa Inc. (NYSE:V) by 9.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,322 shares of the credit-card processor’s stock after selling 439 shares during the quarter. Verity & Verity LLC’s holdings in Visa were worth $1,515,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital & Planning LLC increased its position in Visa by 21.2% during the 4th quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor’s stock worth $300,000 after purchasing an additional 166 shares in the last quarter. Sovereign Investment Advisors LLC purchased a new stake in Visa during the 4th quarter worth about $424,000. Brighton Jones LLC increased its position in Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after purchasing an additional 6,883 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Visa during the 4th quarter worth about $202,074,000. Finally, Revolve Wealth Partners LLC grew its holdings in Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $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.

Visa Stock Performance

Visa stock opened at $371.11 on Friday. The stock’s 50 day moving average price is $348.87 and its 200 day moving average price is $337.17. The firm has a market capitalization of $684.76 billion, a PE ratio of 37.41, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a one year low of $252.70 and a one year high of $375.51.

Visa (NYSE:V) last released its quarterly 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 analyst estimates of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. Visa’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.51 EPS. As a group, sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

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. This represents a $2.36 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is currently 23.72%.

Wall Street Analyst Weigh In

Several analysts have commented on V shares. Citigroup started coverage on Visa in a report on Monday, June 2nd. They issued a “buy” rating for the company. Piper Sandler lifted their price target on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. UBS Group lifted their price target on Visa from $395.00 to $405.00 and gave the company a “buy” rating in a report on Wednesday, May 28th. The Goldman Sachs Group started coverage on Visa in a report on Monday, June 2nd. They issued a “neutral” rating for the company. Finally, Oppenheimer restated an “outperform” rating on shares of Visa in a report 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 company. According to MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus price target of $372.80.

Insider Activity

In other news, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the transaction, the insider now directly owns 26,413 shares in the company, valued at approximately $9,904,875. This represents a 30.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total value of $3,020,792.80. Following the transaction, the chief executive officer now owns 537 shares of the company’s stock, valued at approximately $188,186.28. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 140,448 shares of company stock worth $50,133,659. 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.