Forte Capital LLC ADV Lowers Stock Holdings in Visa Inc. (NYSE:V)

Forte Capital LLC ADV lessened its holdings in shares of Visa Inc. (NYSE:V) by 8.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,413 shares of the credit-card processor’s stock after selling 316 shares during the period. Forte Capital LLC ADV’s holdings in Visa were worth $1,196,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in V. Lakeridge Wealth Management LLC grew its stake in Visa by 5.7% during the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor’s stock worth $528,000 after buying an additional 81 shares during the last quarter. Blue Rock Wealth Management LLC purchased a new position in Visa during the 4th quarter worth approximately $306,000. Aptus Capital Advisors LLC grew its stake in Visa by 19.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock worth $57,727,000 after buying an additional 30,185 shares during the last quarter. Eagle Strategies LLC grew its stake in Visa by 2.5% during the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock worth $811,000 after buying an additional 63 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its stake in Visa by 7.7% during the 4th quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor’s stock worth $192,948,000 after buying an additional 43,546 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 537 shares in the company, valued at $190,001.34. The trade was a 94.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the company’s stock in a transaction 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 sale, the insider owned 26,413 shares of the company’s stock, valued at $9,772,810. The trade was a 63.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,108 shares of company stock valued at $36,771,200 in the last three months. 0.13% of the stock is owned by corporate insiders.

Visa Price Performance

Shares of NYSE:V opened at $350.01 on Friday. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $375.51. The business has a fifty day simple moving average of $356.90 and a 200 day simple moving average of $343.40. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm has a market cap of $645.82 billion, a price-to-earnings ratio of 35.18, a P/E/G ratio of 2.37 and a beta of 0.92.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $9.57 billion. During the same period last year, the business posted $2.51 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. As a group, sell-side analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Tuesday, May 13th. Visa’s payout ratio is 23.72%.

Wall Street Analysts Forecast Growth

V has been the topic of a number of research analyst reports. Susquehanna reiterated a “positive” rating on shares of Visa in a research report on Friday, March 21st. UBS Group boosted their target price on Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. Wall Street Zen upgraded Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Finally, Oppenheimer boosted their price target on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $375.52.

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.