McCollum Christoferson Group LLC Has $13.74 Million Stake in Visa Inc. (NYSE:V)

McCollum Christoferson Group LLC reduced its stake in shares of Visa Inc. (NYSE:V) by 0.7% during the first quarter, Holdings Channel reports. The institutional investor owned 39,215 shares of the credit-card processor’s stock after selling 260 shares during the quarter. Visa comprises 4.2% of McCollum Christoferson Group LLC’s portfolio, making the stock its 5th biggest holding. McCollum Christoferson Group LLC’s holdings in Visa were worth $13,743,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Rothschild & Co Wealth Management UK Ltd grew its holdings in shares of Visa by 5.0% in the first quarter. Rothschild & Co Wealth Management UK Ltd now owns 58,428 shares of the credit-card processor’s stock worth $20,477,000 after purchasing an additional 2,773 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in Visa during the 1st quarter valued at $1,256,000. Assetmark Inc. boosted its position in Visa by 38.1% during the 1st quarter. Assetmark Inc. now owns 154,231 shares of the credit-card processor’s stock valued at $54,052,000 after buying an additional 42,558 shares during the period. ShoreHaven Wealth Partners LLC bought a new stake in Visa in the 1st quarter worth $207,000. Finally, Elefante Mark B purchased a new position in shares of Visa in the first quarter valued at about $696,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on V shares. BMO Capital Markets increased their target price on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Barclays reaffirmed an “overweight” rating on shares of Visa in a research report on Friday, June 13th. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Piper Sandler boosted their target price on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Finally, Oppenheimer upped their target price on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $375.52.

Insider Activity

In other news, insider Paul D. Fabara sold 46,214 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider owned 26,413 shares in the company, valued at approximately $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,108 shares of company stock worth $36,771,200 over the last three months. 0.13% of the stock is currently owned by corporate insiders.

Visa Price Performance

Shares of V opened at $354.30 on Friday. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The firm’s 50-day simple moving average is $356.47 and its two-hundred day simple moving average is $344.69. The stock has a market cap of $653.74 billion, a PE ratio of 35.61, a price-to-earnings-growth ratio of 2.40 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 (NYSE:V) last posted its quarterly earnings results 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. 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 quarter in the prior year, the business posted $2.51 EPS. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. Analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

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.