Absher Wealth Management LLC Sells 1,305 Shares of Visa Inc. (NYSE:V)

Absher Wealth Management LLC reduced its position in Visa Inc. (NYSE:V) by 1.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,207 shares of the credit-card processor’s stock after selling 1,305 shares during the period. Visa comprises about 4.1% of Absher Wealth Management LLC’s holdings, making the stock its 7th largest position. Absher Wealth Management LLC’s holdings in Visa were worth $31,264,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings 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 increased its holdings in shares of Visa by 4.4% during the 4th 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 acquiring an additional 1,689,926 shares during the last quarter. Capital International Investors increased its holdings in shares of Visa by 3.8% during the 4th quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor’s stock valued at $7,526,660,000 after acquiring an additional 866,596 shares during the last quarter. Capital World Investors increased its holdings in shares of Visa by 1.0% during the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor’s stock valued at $7,356,614,000 after acquiring an additional 241,057 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Visa by 18.0% during the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock valued at $5,771,116,000 after acquiring an additional 2,785,707 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

Shares of V stock opened at $338.04 on Friday. The stock has a 50 day moving average of $351.78 and a two-hundred day moving average of $338.74. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. The company has a market capitalization of $623.73 billion, a P/E ratio of 33.97, a P/E/G ratio of 2.28 and a beta of 0.94.

Visa (NYSE:V) last announced its quarterly earnings data 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 company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter last year, the company earned $2.51 EPS. The company’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, equities analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 0.70%. Visa’s dividend payout ratio is currently 23.72%.

Analyst Ratings Changes

A number of brokerages have recently commented on V. Wall Street Zen raised Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Piper Sandler increased their price objective on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Citigroup initiated coverage on Visa in a report on Monday, June 2nd. They set a “buy” rating on the stock. Barclays restated an “overweight” rating on shares of Visa in a research note on Friday, June 13th. 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 research note on Tuesday, May 27th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $372.80.

Insiders Place Their Bets

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the transaction, the general counsel now owns 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 26,413 shares of the company’s stock, valued at $9,904,875. This trade represents a 30.58% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,098 shares of company stock worth $36,738,526. 0.13% of the stock is currently owned by company 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.