Visa Inc. (NYSE:V) Position Reduced by Aire Advisors LLC

Aire Advisors LLC decreased its position in shares of Visa Inc. (NYSE:V) by 4.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,936 shares of the credit-card processor’s stock after selling 167 shares during the period. Aire Advisors LLC’s holdings in Visa were worth $1,379,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Summit Wealth & Retirement Planning Inc. grew its position in Visa by 21.6% in the first quarter. Summit Wealth & Retirement Planning Inc. now owns 1,116 shares of the credit-card processor’s stock worth $391,000 after buying an additional 198 shares during the last quarter. RD Lewis Holdings Inc. grew its position in Visa by 0.7% during the 1st quarter. RD Lewis Holdings Inc. now owns 9,136 shares of the credit-card processor’s stock worth $3,176,000 after purchasing an additional 60 shares in the last quarter. Los Angeles Capital Management LLC grew its position in Visa by 154.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 1,318,862 shares of the credit-card processor’s stock worth $462,208,000 after purchasing an additional 799,629 shares in the last quarter. Wealth Alliance LLC grew its position in Visa by 4.9% during the 1st quarter. Wealth Alliance LLC now owns 11,941 shares of the credit-card processor’s stock worth $4,185,000 after purchasing an additional 555 shares in the last quarter. Finally, Meridian Wealth Advisors LLC grew its position in Visa by 1.3% during the 1st quarter. Meridian Wealth Advisors LLC now owns 26,547 shares of the credit-card processor’s stock worth $9,304,000 after purchasing an additional 352 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa 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 sale, the insider directly owned 26,413 shares of the company’s stock, valued at approximately $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the company’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. 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 101,108 shares of company stock valued at $36,771,200. 0.13% of the stock is currently owned by insiders.

Visa Stock Down 0.3%

Shares of V opened at $348.90 on Monday. The company has a 50-day simple moving average of $356.82 and a 200-day simple moving average of $344.02. The firm has a market capitalization of $643.78 billion, a P/E ratio of 35.07, a P/E/G ratio of 2.36 and a beta of 0.92. 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 Inc. has a 52 week low of $252.70 and a 52 week high of $375.51.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.51 earnings per share. On average, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid 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 23.72%.

Analyst Ratings Changes

V has been the subject of a number of research reports. William Blair reissued an “outperform” rating on shares of Visa in a research note on Wednesday, April 30th. Piper Sandler upped their price objective on shares of Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Barclays reiterated an “overweight” rating on shares of Visa in a report on Friday, June 13th. Oppenheimer upped their price objective on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Finally, Jefferies Financial Group upped their price objective on shares of Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a report on Tuesday, May 27th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.