Westover Capital Advisors LLC Reduces Holdings in Visa Inc. (NYSE:V)

Westover Capital Advisors LLC reduced its stake in Visa Inc. (NYSE:V) by 1.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,136 shares of the credit-card processor’s stock after selling 58 shares during the period. Westover Capital Advisors LLC’s holdings in Visa were worth $1,450,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. von Borstel & Associates Inc. bought a new stake in shares of Visa in the first quarter worth about $27,000. Measured Risk Portfolios Inc. purchased a new stake in shares of Visa in the 4th quarter worth about $47,000. O Brien Wealth Partners LLC bought a new position in Visa in the first quarter worth about $54,000. Global X Japan Co. Ltd. bought a new stake in Visa during the 1st quarter valued at approximately $56,000. Finally, Cedar Mountain Advisors LLC lifted its stake in shares of Visa by 28.5% in the 1st quarter. Cedar Mountain Advisors LLC now owns 167 shares of the credit-card processor’s stock valued at $59,000 after purchasing an additional 37 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on V shares. Wall Street Zen upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Oppenheimer lifted their price target on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. William Blair reissued an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. Macquarie reduced their price objective on Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Finally, Jefferies Financial Group raised their price target on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $375.52.

Visa Trading Down 0.3%

V opened at $354.30 on Friday. The stock has a 50-day moving average of $356.47 and a 200 day moving average of $344.69. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. The firm has a market cap of $653.74 billion, a P/E ratio of 35.61, a P/E/G ratio of 2.40 and a beta of 0.92.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. During the same quarter in the previous year, the business earned $2.51 EPS. The company’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, research analysts forecast that Visa Inc. will post 11.3 EPS 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 given 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 dividend payout ratio (DPR) is 23.72%.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares of the company’s stock, valued at $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the company’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 transaction, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,108 shares of company stock valued at $36,771,200. 0.13% of the stock is currently owned by company insiders.

Visa Company 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.