Keudell Morrison Wealth Management Has $4.19 Million Stock Holdings in Visa Inc. (NYSE:V)

Keudell Morrison Wealth Management trimmed its holdings in shares of Visa Inc. (NYSE:V) by 0.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,946 shares of the credit-card processor’s stock after selling 45 shares during the quarter. Visa accounts for 1.0% of Keudell Morrison Wealth Management’s holdings, making the stock its 21st biggest position. Keudell Morrison Wealth Management’s holdings in Visa were worth $4,187,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Visa in the fourth quarter valued at about $5,171,271,000. GAMMA Investing LLC grew its holdings in shares of Visa by 38,416.3% during the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock worth $5,173,271,000 after buying an additional 14,723,050 shares in the last quarter. Vanguard Group Inc. raised its position in Visa by 4.6% in 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 buying an additional 7,079,706 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Visa in the 4th quarter valued at approximately $1,955,403,000. Finally, Proficio Capital Partners LLC boosted its position in Visa by 17,018.7% during the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock worth $1,248,079,000 after acquiring an additional 3,926,049 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on V. Wall Street Zen upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. BMO Capital Markets lifted their price target on shares of Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Citigroup initiated coverage on shares of Visa in a research report on Monday, June 2nd. They set a “buy” rating on the stock. Macquarie decreased their price objective on Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Finally, William Blair reiterated an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $372.80.

Visa Stock Performance

V opened at $351.65 on Wednesday. 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 $648.84 billion, a PE ratio of 35.34, a price-to-earnings-growth ratio of 2.31 and a beta of 0.94. The business has a fifty day simple moving average of $352.27 and a 200 day simple moving average of $339.26. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $375.51.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the prior year, the company posted $2.51 earnings per share. Visa’s revenue was up 9.3% compared to the same quarter last year. Research analysts expect 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. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. Visa’s dividend payout ratio is presently 23.72%.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $185,576.46. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the transaction, the insider now owns 26,413 shares of the company’s stock, valued at $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,098 shares of company stock worth $36,738,526. Corporate insiders own 0.13% of the company’s stock.

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.