Asset Dedication LLC Decreases Stock Holdings in Visa Inc. (NYSE:V)

Asset Dedication LLC reduced its holdings in shares of Visa Inc. (NYSE:V) by 3.5% during the first quarter, HoldingsChannel.com reports. The fund owned 19,901 shares of the credit-card processor’s stock after selling 726 shares during the quarter. Visa makes up approximately 0.6% of Asset Dedication LLC’s investment portfolio, making the stock its 28th largest position. Asset Dedication LLC’s holdings in Visa were worth $6,975,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. von Borstel & Associates Inc. bought a new stake in shares of Visa in the 1st quarter worth approximately $27,000. Sellwood Investment Partners LLC bought a new stake in shares of Visa in the fourth quarter valued at $41,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Visa during the 4th quarter valued at $47,000. Measured Risk Portfolios Inc. bought a new position in shares of Visa during the 4th quarter worth $47,000. Finally, Navigoe LLC bought a new position in shares of Visa during the 4th quarter worth $53,000. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on V shares. Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $359.00 to $425.00 in a report on Thursday, June 5th. The Goldman Sachs Group started coverage on shares of Visa in a research note on Monday, June 2nd. They set a “neutral” rating on the stock. Jefferies Financial Group lifted their price objective on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday, May 27th. BMO Capital Markets increased their target price on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Finally, Piper Sandler boosted their price objective on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $372.84.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares of the company’s stock, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the 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 transaction, the insider owned 26,413 shares in the company, 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. In the last three months, insiders have sold 101,108 shares of company stock valued at $36,771,200. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Performance

Visa stock opened at $347.71 on Monday. 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 stock has a market cap of $641.58 billion, a P/E ratio of 34.95, a price-to-earnings-growth ratio of 2.36 and a beta of 0.92. The firm’s fifty day moving average price is $356.93 and its 200-day moving average price is $342.86.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating 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 business had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter last year, the business posted $2.51 earnings per share. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a dividend of $0.59 per share. 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 0.68%. Visa’s dividend payout ratio is 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.