Howard Bailey Securities LLC Sells 167 Shares of Visa Inc. (NYSE:V)

Howard Bailey Securities LLC lowered its holdings in Visa Inc. (NYSE:V) by 4.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,262 shares of the credit-card processor’s stock after selling 167 shares during the quarter. Howard Bailey Securities LLC’s holdings in Visa were worth $1,143,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Bradley & Co. Private Wealth Management LLC acquired a new position in Visa during the 4th quarter worth $27,000. Compass Planning Associates Inc acquired a new position in shares of Visa during the fourth quarter valued at $32,000. NewSquare Capital LLC acquired a new position in shares of Visa during the fourth quarter valued at $35,000. FPC Investment Advisory Inc. boosted its holdings in Visa by 377.3% in the fourth 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. Finally, Sellwood Investment Partners LLC acquired a new stake in Visa in the fourth quarter worth about $41,000. Institutional investors own 82.15% of the company’s stock.

Insider Activity

In other news, insider Paul D. Fabara sold 46,214 shares of Visa 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 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 $2,978,899.60. Following the completion of the sale, the chief executive officer now owns 537 shares in the company, valued at approximately $185,576.46. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 140,448 shares of company stock valued at $50,133,659. 0.13% of the stock is currently owned by company insiders.

Visa Price Performance

Shares of NYSE:V opened at $352.75 on Monday. The company’s fifty day moving average price is $349.76 and its 200-day moving average price is $337.77. 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 firm has a market capitalization of $650.87 billion, a price-to-earnings ratio of 35.56, 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.

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

Visa Dividend Announcement

The business 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. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.67%. Visa’s payout ratio is currently 23.72%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Susquehanna restated a “positive” rating on shares of Visa in a research report on Friday, March 21st. Mizuho upgraded shares of 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 report on Thursday, June 5th. Macquarie lowered their target price on shares of Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. BMO Capital Markets upped their target price on shares of Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Finally, UBS Group raised their price target on Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $372.80.

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.