JFS Wealth Advisors LLC Cuts Stock Position in Visa Inc. (NYSE:V)

JFS Wealth Advisors LLC cut its stake in shares of Visa Inc. (NYSE:V) by 5.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,011 shares of the credit-card processor’s stock after selling 309 shares during the quarter. JFS Wealth Advisors LLC’s holdings in Visa were worth $1,756,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake 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 worth $50,378,465,000 after buying an additional 7,079,706 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 buying an additional 1,689,926 shares in the last quarter. Capital International Investors grew its holdings in Visa by 3.8% during the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor’s stock worth $7,526,660,000 after acquiring an additional 866,596 shares during the period. Capital World Investors grew its holdings in Visa by 1.0% during the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor’s stock worth $7,356,614,000 after acquiring an additional 241,057 shares during the period. Finally, Northern Trust Corp raised its position in Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock worth $5,771,116,000 after acquiring an additional 2,785,707 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Paul D. Fabara sold 11,636 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were 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 owns 26,413 shares of the company’s stock, valued at $9,904,875. This represents a 30.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 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 $2,978,899.60. Following the completion of the sale, the chief executive officer now directly owns 537 shares in the company, valued at $185,576.46. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,098 shares of company stock worth $36,738,526. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on V shares. Evercore ISI initiated coverage on shares of Visa in a research report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 target price on the stock. Wall Street Zen upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. UBS Group boosted their price objective on shares of Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. Mizuho upgraded shares of Visa from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Finally, Citigroup assumed coverage on shares of Visa in a research report on Monday, June 2nd. They set a “buy” rating for the company. Five investment 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $372.80.

Visa Stock Performance

Shares of V opened at $344.18 on Tuesday. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $375.51. The company’s 50 day simple moving average is $351.95 and its 200 day simple moving average is $339.18. The company has a market capitalization of $635.07 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 2.28 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the firm posted $2.51 EPS. Visa’s revenue was up 9.3% on a year-over-year basis. On average, sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.69%. Visa’s dividend payout ratio (DPR) is presently 23.72%.

Visa 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.