Elgethun Capital Management Trims Holdings in Visa Inc. (NYSE:V)

Elgethun Capital Management lowered its position in shares of Visa Inc. (NYSE:V) by 3.5% in the first quarter, Holdings Channel reports. The institutional investor owned 3,952 shares of the credit-card processor’s stock after selling 143 shares during the period. Elgethun Capital Management’s holdings in Visa were worth $1,385,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. von Borstel & Associates Inc. purchased a new position in shares of Visa in the 1st quarter valued at about $27,000. Measured Risk Portfolios Inc. purchased a new position in shares of Visa in the 4th quarter valued at about $47,000. Navigoe LLC purchased a new position in shares of Visa in the 4th quarter valued at about $53,000. O Brien Wealth Partners LLC acquired a new stake in Visa in the 1st quarter valued at about $54,000. Finally, Global X Japan Co. Ltd. acquired a new stake in Visa in the 1st quarter valued at about $56,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on V. Truist Financial lowered their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Morgan Stanley increased their price objective on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 price objective on the stock. The Goldman Sachs Group began coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “neutral” rating on the stock. Finally, Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $380.84.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,630 shares of Visa 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 $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of Visa 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 sale, the insider owned 26,413 shares in the company, valued at $9,772,810. This represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,100 shares of company stock worth $27,643,224 in the last 90 days. 0.13% of the stock is currently owned by insiders.

Visa Trading Up 0.7%

NYSE V opened at $339.68 on Thursday. Visa Inc. has a one year low of $256.31 and a one year high of $375.51. The company’s 50 day moving average price is $353.98 and its 200 day moving average price is $346.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $626.76 billion, a price-to-earnings ratio of 33.17, a PEG ratio of 2.25 and a beta of 0.94.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same quarter last year, the firm posted $2.42 earnings per share. Visa’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be issued a $0.59 dividend. 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 (DPR) is presently 23.05%.

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.