Visa Inc. (NYSE:V) Shares Sold by Private Wealth Partners LLC

Private Wealth Partners LLC lessened its stake in shares of Visa Inc. (NYSE:V) by 6.3% in the first quarter, Holdings Channel.com reports. The fund owned 159,157 shares of the credit-card processor’s stock after selling 10,632 shares during the quarter. Visa comprises about 4.6% of Private Wealth Partners LLC’s holdings, making the stock its 4th biggest position. Private Wealth Partners LLC’s holdings in Visa were worth $55,778,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after acquiring an additional 7,079,706 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Visa by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock valued at $12,729,901,000 after purchasing an additional 1,689,926 shares in the last quarter. Capital International Investors lifted its holdings in shares of Visa by 3.8% in the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor’s stock valued at $7,526,660,000 after purchasing an additional 866,596 shares in the last quarter. Capital World Investors lifted its holdings in shares of Visa by 1.0% in the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor’s stock valued at $7,356,614,000 after purchasing an additional 241,057 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock valued at $5,771,116,000 after purchasing an additional 2,785,707 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Piper Sandler increased their target price on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Barclays restated an “overweight” rating on shares of Visa in a report on Friday, June 13th. William Blair restated an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on Visa in a report on Monday, June 2nd. They issued a “neutral” rating for the company. Finally, 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. Five 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $372.80.

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 101,098 shares of company stock valued at $36,738,526 over the last three months. 0.13% of the stock is currently owned by insiders.

Visa Trading Down 0.7%

Visa stock opened at $338.04 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market capitalization of $623.73 billion, a price-to-earnings ratio of 33.97, a PEG ratio of 2.29 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 $351.78 and its two-hundred day moving average price is $338.54.

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 52.86% and a return on equity of 56.28%. 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 0.70%. The ex-dividend date was Tuesday, May 13th. Visa’s payout ratio is 23.72%.

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.