Meriwether Wealth & Planning LLC Sells 854 Shares of Visa Inc. (NYSE:V)

Meriwether Wealth & Planning LLC trimmed its stake in Visa Inc. (NYSE:V) by 18.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,835 shares of the credit-card processor’s stock after selling 854 shares during the period. Visa accounts for 0.9% of Meriwether Wealth & Planning LLC’s portfolio, making the stock its 23rd largest position. Meriwether Wealth & Planning LLC’s holdings in Visa were worth $1,344,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Good Steward Wealth Advisors LLC bought a new position in shares of Visa in the 1st quarter worth $217,000. River Street Advisors LLC bought a new position in shares of Visa in the 1st quarter worth $246,000. Walter & Keenan Wealth Management LLC IN ADV raised its position in shares of Visa by 1.3% in the 1st quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 18,767 shares of the credit-card processor’s stock worth $6,577,000 after acquiring an additional 249 shares in the last quarter. Trifecta Capital Advisors LLC raised its position in shares of Visa by 1.4% in the 1st quarter. Trifecta Capital Advisors LLC now owns 22,882 shares of the credit-card processor’s stock worth $8,019,000 after acquiring an additional 326 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Visa by 26.3% in the 1st quarter. Blue Trust Inc. now owns 13,882 shares of the credit-card processor’s stock worth $4,865,000 after acquiring an additional 2,887 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on V. The Goldman Sachs Group began coverage on Visa in a research report on Monday, June 2nd. They set a “neutral” rating on the stock. Wall Street Zen raised Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. UBS Group upped their target price on Visa from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Truist Financial began coverage on Visa in a research report on Monday, June 2nd. They set a “buy” rating and a $400.00 target price on the stock. Finally, Macquarie reduced their target price on Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Five equities research 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, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $372.80.

Visa Stock Down 0.7%

Shares of V stock opened at $338.04 on Friday. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market capitalization of $623.73 billion, a PE ratio of 33.97, a P/E/G ratio of 2.29 and a beta of 0.94. The stock’s 50-day simple moving average is $351.78 and its 200-day simple moving average is $338.54.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the prior year, the business earned $2.51 earnings per share. The company’s revenue was up 9.3% compared to the same quarter last year. Equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.70%. Visa’s payout ratio is 23.72%.

Insider Transactions at Visa

In other Visa 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 transaction, the insider now owns 26,413 shares in the company, valued at approximately $9,904,875. This 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 stock in a transaction that occurred on Tuesday, April 1st. The stock was 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 in the company, valued at $188,186.28. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,098 shares of company stock worth $36,738,526 over the last quarter. 0.13% of the stock is currently owned by insiders.

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.