Washburn Capital Management Inc. Has $3.54 Million Stake in Visa Inc. (NYSE:V)

Washburn Capital Management Inc. trimmed its stake in Visa Inc. (NYSE:V) by 1.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,105 shares of the credit-card processor’s stock after selling 169 shares during the period. Visa makes up about 2.0% of Washburn Capital Management Inc.’s portfolio, making the stock its 8th biggest position. Washburn Capital Management Inc.’s holdings in Visa were worth $3,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of V. von Borstel & Associates Inc. purchased a new stake in shares of Visa in the first quarter worth approximately $27,000. Sellwood Investment Partners LLC purchased a new stake in shares of Visa in the fourth quarter worth approximately $41,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Visa in the fourth quarter worth approximately $47,000. Measured Risk Portfolios Inc. purchased a new stake in shares of Visa in the fourth quarter worth approximately $47,000. Finally, Navigoe LLC purchased a new stake in shares of Visa in the fourth quarter worth approximately $53,000. 82.15% of the stock is owned by institutional investors.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 11,636 shares of the firm’s stock in a transaction on Wednesday, June 11th. The stock was 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,108 shares of company stock valued at $36,771,200 in the last quarter. 0.13% of the stock is currently owned by corporate insiders.

Visa Stock Down 0.3%

Visa stock opened at $348.90 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $643.78 billion, a price-to-earnings ratio of 35.07, a PEG ratio of 2.37 and a beta of 0.92. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The business has a fifty day moving average price of $356.82 and a 200-day moving average price of $343.63.

Visa (NYSE:V) last posted its quarterly earnings data 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 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%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.51 EPS. Equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. Visa’s payout ratio is 23.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. BMO Capital Markets increased their price target on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. William Blair restated an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. Citigroup initiated coverage on Visa in a report on Monday, June 2nd. They set a “buy” rating on the stock. Evercore ISI initiated coverage on Visa in a report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price objective on the stock. Finally, Jefferies Financial Group raised their price objective on Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a report on Tuesday, May 27th. Five equities research 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 company’s stock. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target of $375.52.

About Visa

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.