Visa Inc. (NYSE:V) Shares Sold by Peak Asset Management LLC

Peak Asset Management LLC trimmed its holdings in shares of Visa Inc. (NYSE:V) by 4.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,277 shares of the credit-card processor’s stock after selling 2,786 shares during the period. Visa makes up about 3.6% of Peak Asset Management LLC’s portfolio, making the stock its 6th biggest position. Peak Asset Management LLC’s holdings in Visa were worth $19,022,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. von Borstel & Associates Inc. acquired a new stake in shares of Visa in the first quarter worth approximately $27,000. Measured Risk Portfolios Inc. acquired a new stake in shares of Visa in the fourth quarter worth approximately $47,000. Navigoe LLC acquired a new stake in shares of Visa in the fourth quarter worth approximately $53,000. O Brien Wealth Partners LLC acquired a new stake in shares of Visa in the first quarter worth approximately $54,000. Finally, Hurley Capital LLC acquired a new stake in shares of Visa in the fourth quarter worth approximately $56,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

V has been the topic of several recent analyst reports. Evercore ISI initiated coverage on Visa in a research note on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 price target on the stock. Citigroup initiated coverage on Visa in a research note on Monday, June 2nd. They issued a “buy” rating on the stock. UBS Group upped their price target on Visa from $395.00 to $405.00 and gave the company a “buy” rating in a research note on Wednesday, May 28th. Oppenheimer upped their price target on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Finally, Piper Sandler lifted their target price on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Five equities 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $375.52.

Visa Stock Performance

NYSE:V opened at $356.93 on Friday. The stock has a market cap of $658.60 billion, a PE ratio of 35.87, a price-to-earnings-growth ratio of 2.41 and a beta of 0.92. 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 firm’s fifty day simple moving average is $356.30 and its 200-day simple moving average is $345.22. Visa Inc. has a fifty-two week low of $254.51 and a fifty-two week high of $375.51.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. The business had revenue of $9.59 billion for 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%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.51 EPS. Analysts expect 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. Investors of record on Tuesday, May 13th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. Visa’s dividend payout ratio is currently 23.72%.

Insider Buying and Selling

In related 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 transaction of $17,099,180.00. Following the completion of the transaction, the insider owned 26,413 shares of the company’s stock, valued at approximately $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $190,001.34. This trade represents 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 in the last ninety days. 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.