Koa Wealth Management LLC Sells 1,112 Shares of Visa Inc. (NYSE:V)

Koa Wealth Management LLC cut its position in Visa Inc. (NYSE:V) by 10.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,436 shares of the credit-card processor’s stock after selling 1,112 shares during the period. Visa accounts for about 2.7% of Koa Wealth Management LLC’s investment portfolio, making the stock its 9th biggest position. Koa Wealth Management LLC’s holdings in Visa were worth $3,307,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. acquired a new position in Visa during the first quarter worth $27,000. Measured Risk Portfolios Inc. bought a new position in Visa during the fourth quarter worth about $47,000. Navigoe LLC bought a new position in Visa during the fourth quarter worth about $53,000. O Brien Wealth Partners LLC bought a new position in Visa during the first quarter worth about $54,000. Finally, Global X Japan Co. Ltd. bought a new position in Visa in the 1st quarter valued at about $56,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Up 1.4%

Shares of Visa stock opened at $336.86 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market cap of $621.56 billion, a P/E ratio of 32.90, a P/E/G ratio of 2.21 and a beta of 0.94. Visa Inc. has a fifty-two week low of $258.74 and a fifty-two week high of $375.51. The business has a 50-day moving average price of $352.79 and a 200 day moving average price of $346.96.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%. The firm’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.42 earnings per share. On average, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal 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 given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa’s dividend payout ratio is 23.05%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on V shares. Macquarie upped their target price on shares of Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Wall Street Zen raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. BMO Capital Markets raised their target price on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Oppenheimer raised their price objective on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Finally, Barclays reaffirmed an “overweight” rating and issued a $408.00 price target (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $380.84.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the firm’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 value of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the transaction, the insider directly owned 26,413 shares in the company, valued at approximately $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,100 shares of company stock valued at $27,643,224 in the last three months. Company insiders own 0.13% of the company’s stock.

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.