Left Brain Wealth Management LLC Cuts Stock Position in Visa Inc. (NYSE:V)

Left Brain Wealth Management LLC decreased its holdings in Visa Inc. (NYSE:V) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,203 shares of the credit-card processor’s stock after selling 77 shares during the period. Visa accounts for approximately 2.3% of Left Brain Wealth Management LLC’s holdings, making the stock its 15th biggest holding. Left Brain Wealth Management LLC’s holdings in Visa were worth $5,328,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Visa during the fourth quarter valued at $5,171,271,000. GAMMA Investing LLC grew its stake in Visa by 38,416.3% in the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock worth $5,173,271,000 after acquiring an additional 14,723,050 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares during the period. Northern Trust Corp increased its position in shares of Visa by 18.0% during 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 during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Visa during the fourth quarter valued at approximately $673,689,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Jefferies Financial Group lifted their target price on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. Evercore ISI assumed coverage on Visa in a research note on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price target on the stock. BMO Capital Markets upped their price objective on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Susquehanna reissued a “positive” rating on shares of Visa in a research report on Friday, March 21st. Finally, Citigroup assumed coverage on shares of Visa in a report on Monday, June 2nd. They issued 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $372.84.

Visa Price Performance

Shares of V 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 company has a market capitalization of $641.58 billion, a P/E ratio of 34.95, a P/E/G ratio of 2.36 and a beta of 0.92. The business’s 50-day moving average is $356.93 and its two-hundred day moving average is $342.86.

Visa (NYSE:V) last released its quarterly earnings data 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 business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.51 EPS. Research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently declared 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 0.68%. Visa’s dividend payout ratio is presently 23.72%.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were 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 approximately $190,001.34. The trade was a 94.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was 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 of the company’s stock, valued at $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,108 shares of company stock valued at $36,771,200. Corporate insiders own 0.13% of the company’s stock.

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.