Proficio Capital Partners LLC Reduces Holdings in Visa Inc. (NYSE:V)

Proficio Capital Partners LLC lowered its position in Visa Inc. (NYSE:V) by 0.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,204 shares of the credit-card processor’s stock after selling 56 shares during the quarter. Proficio Capital Partners LLC’s holdings in Visa were worth $9,127,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in V. Norges Bank acquired a new stake in shares of Visa in the fourth quarter valued at approximately $5,171,271,000. GAMMA Investing LLC lifted its holdings in shares of Visa by 38,416.3% in the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock valued at $5,173,271,000 after buying an additional 14,723,050 shares during the period. Northern Trust Corp raised 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 purchasing an additional 2,785,707 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Visa in the 4th quarter worth approximately $673,689,000. Finally, Sanders Capital LLC purchased a new position in Visa during the 4th quarter valued at about $623,022,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Down 0.0%

Visa stock traded down $0.08 during mid-day trading on Tuesday, reaching $350.86. 1,894,873 shares of the company’s stock were exchanged, compared to its average volume of 6,770,243. The company has a market cap of $647.39 billion, a P/E ratio of 35.25, a P/E/G ratio of 2.36 and a beta of 0.92. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The company has a fifty day moving average of $356.82 and a 200-day moving average of $344.02.

Visa (NYSE:V) last announced its quarterly earnings results 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. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period last year, the business earned $2.51 EPS. Visa’s revenue for the quarter was up 9.3% compared to the same quarter last year. Sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets raised 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. Macquarie cut their price target on shares of Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. The Goldman Sachs Group initiated coverage on Visa in a report on Monday, June 2nd. They issued a “neutral” rating for the company. Citigroup began coverage on shares of Visa in a report on Monday, June 2nd. They issued a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $410.00 price target on shares of Visa in a report on Thursday, July 17th. Five research 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 company. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $375.52.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,630 shares of the business’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction dated 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 approximately $9,772,810. The trade was a 63.63% decrease in their position. 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. 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.