Visa Inc. (NYSE:V) Shares Sold by Vulcan Value Partners LLC

Vulcan Value Partners LLC trimmed its position in shares of Visa Inc. (NYSE:V) by 10.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 902,016 shares of the credit-card processor’s stock after selling 101,508 shares during the period. Visa makes up approximately 5.9% of Vulcan Value Partners LLC’s holdings, making the stock its 6th biggest holding. Vulcan Value Partners LLC’s holdings in Visa were worth $316,018,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Baker Avenue Asset Management LP increased its holdings in shares of Visa by 154.4% during the 1st quarter. Baker Avenue Asset Management LP now owns 15,089 shares of the credit-card processor’s stock worth $5,288,000 after buying an additional 9,157 shares during the last quarter. Hopwood Financial Services Inc. boosted its position in Visa by 9.9% during the 1st quarter. Hopwood Financial Services Inc. now owns 535 shares of the credit-card processor’s stock worth $187,000 after purchasing an additional 48 shares during the period. Lindenwold Advisors INC boosted its position in Visa by 83.3% during the 1st quarter. Lindenwold Advisors INC now owns 9,580 shares of the credit-card processor’s stock worth $3,357,000 after purchasing an additional 4,354 shares during the period. Lynwood Price Capital Management LP boosted its position in Visa by 370.0% during the 1st quarter. Lynwood Price Capital Management LP now owns 23,500 shares of the credit-card processor’s stock worth $8,236,000 after purchasing an additional 18,500 shares during the period. Finally, Nicolet Advisory Services LLC boosted its position in Visa by 4.3% during the 1st quarter. Nicolet Advisory Services LLC now owns 5,915 shares of the credit-card processor’s stock worth $1,920,000 after purchasing an additional 246 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Paul D. Fabara sold 11,636 shares of the 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 owned 26,413 shares in the company, valued at $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the 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 owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,913 shares of company stock worth $32,902,432. 0.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Piper Sandler upped their price target on shares of Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. UBS Group reaffirmed a “buy” rating and set a $415.00 price target (up from $405.00) on shares of Visa in a research report on Wednesday. Wall Street Zen raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Citigroup started coverage on shares of Visa in a research report on Monday, June 2nd. They set a “buy” rating on the stock. Finally, Truist Financial reduced their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $380.84.

Visa Price Performance

V opened at $345.69 on Friday. The firm has a market cap of $637.86 billion, a price-to-earnings ratio of 33.76, a price-to-earnings-growth ratio of 2.36 and a beta of 0.92. Visa Inc. has a fifty-two week low of $254.51 and a fifty-two week high of $375.51. The company’s 50-day moving average price is $355.36 and its 200 day moving average price is $346.13. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.42 earnings per share. As a group, sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa’s dividend payout ratio is 23.05%.

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.