Financial Management Network Inc. Lowers Stake in Visa Inc. (NYSE:V)

Financial Management Network Inc. lowered its stake in shares of Visa Inc. (NYSE:V) by 4.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,469 shares of the credit-card processor’s stock after selling 800 shares during the quarter. Visa accounts for 1.3% of Financial Management Network Inc.’s investment portfolio, making the stock its 18th biggest position. Financial Management Network Inc.’s holdings in Visa were worth $6,473,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after purchasing an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after purchasing an additional 4,817 shares during the last quarter. Maridea Wealth Management LLC bought a new position in shares of Visa during the 4th quarter valued at $340,000. L & S Advisors Inc grew its holdings in shares of Visa by 1,695.0% during the 4th quarter. L & S Advisors Inc now owns 16,514 shares of the credit-card processor’s stock valued at $5,219,000 after purchasing an additional 15,594 shares during the last quarter. Finally, American Money Management LLC grew its holdings in Visa by 0.4% in the 4th quarter. American Money Management LLC now owns 33,867 shares of the credit-card processor’s stock worth $10,703,000 after acquiring an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the business’s 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,108 shares of company stock valued at $36,771,200 over the last three months. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price target on the stock. Truist Financial cut their price target on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Piper Sandler raised their price target on shares of Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Finally, William Blair reissued an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. Five equities research 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $375.52.

Visa Trading Up 0.8%

Shares of NYSE V opened at $356.93 on Monday. Visa Inc. has a 1 year low of $254.51 and a 1 year high of $375.51. The stock has a market cap of $658.60 billion, a P/E ratio of 35.87, a price-to-earnings-growth ratio of 2.41 and a beta of 0.92. The firm has a 50-day moving average of $356.30 and a 200 day moving average of $345.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08.

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. The firm had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.51 earnings per share. As a group, sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. Visa’s payout ratio is 23.72%.

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.