Sherman Asset Management Inc. Boosts Stock Holdings in Visa Inc. (NYSE:V)

Sherman Asset Management Inc. grew its stake in shares of Visa Inc. (NYSE:V) by 4.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,847 shares of the credit-card processor’s stock after buying an additional 74 shares during the quarter. Sherman Asset Management Inc.’s holdings in Visa were worth $647,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Single Point Partners LLC grew its holdings in Visa by 24.2% in the 1st quarter. Single Point Partners LLC now owns 817 shares of the credit-card processor’s stock worth $286,000 after acquiring an additional 159 shares during the last quarter. 25 LLC boosted its holdings in shares of Visa by 6.2% during the first quarter. 25 LLC now owns 688 shares of the credit-card processor’s stock worth $241,000 after purchasing an additional 40 shares during the period. Abacus Planning Group Inc. grew its stake in shares of Visa by 23.9% in the first quarter. Abacus Planning Group Inc. now owns 2,019 shares of the credit-card processor’s stock worth $707,000 after purchasing an additional 389 shares during the last quarter. Capital Investment Advisors LLC increased its holdings in Visa by 15.4% during the 1st quarter. Capital Investment Advisors LLC now owns 50,812 shares of the credit-card processor’s stock valued at $17,807,000 after purchasing an additional 6,788 shares during the period. Finally, PFW Advisors LLC raised its position in Visa by 0.5% during the 1st quarter. PFW Advisors LLC now owns 8,738 shares of the credit-card processor’s stock valued at $3,062,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $362.77, for a total transaction of $3,127,077.40. Following the transaction, the chief executive officer now owns 537 shares of the company’s stock, valued at $194,807.49. The trade was a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the completion of the transaction, the insider now owns 26,413 shares of the company’s stock, valued at approximately $8,642,333.60. The trade was a 59.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 168,162 shares of company stock valued at $58,645,479. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Citigroup began coverage on Visa in a research report on Monday, June 2nd. They issued a “buy” rating on the stock. Macquarie reduced their price target on shares of Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. The Goldman Sachs Group initiated coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “neutral” rating for the company. Truist Financial initiated coverage on shares of Visa in a report on Monday, June 2nd. They issued a “buy” rating and a $400.00 price objective for the company. Finally, Oppenheimer reiterated an “outperform” rating on shares of Visa in a report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $372.80.

Visa Price Performance

V opened at $370.44 on Monday. The company’s 50-day simple moving average is $345.45 and its two-hundred day simple moving average is $335.88. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $683.52 billion, a P/E ratio of 37.34, a P/E/G ratio of 2.33 and a beta of 0.94. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $371.83.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The company had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter last year, the company posted $2.51 earnings per share. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently announced 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 yield of 0.64%. Visa’s dividend payout ratio (DPR) is 23.72%.

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.