Fortitude Family Office LLC Sells 960 Shares of Visa Inc. (NYSE:V)

Fortitude Family Office LLC reduced its stake in Visa Inc. (NYSE:V) by 37.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,627 shares of the credit-card processor’s stock after selling 960 shares during the period. Fortitude Family Office LLC’s holdings in Visa were worth $570,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of V. Bradley & Co. Private Wealth Management LLC bought a new position in Visa in the fourth quarter worth about $27,000. POM Investment Strategies LLC lifted its holdings in shares of Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after purchasing an additional 32 shares during the last quarter. Compass Planning Associates Inc purchased a new stake in shares of Visa in the 4th quarter worth approximately $32,000. NewSquare Capital LLC bought a new position in Visa during the 4th quarter valued at approximately $35,000. Finally, FPC Investment Advisory Inc. raised its stake in Visa by 377.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock valued at $36,000 after buying an additional 83 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the sale, the general counsel now owns 11,925 shares in the company, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of the business’s 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 completion of the sale, the insider now owns 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 have sold a total of 168,162 shares of company stock worth $58,645,479 over the last quarter. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. The Goldman Sachs Group assumed coverage on Visa in a research note on Monday, June 2nd. They set a “neutral” rating for the company. William Blair reissued an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Visa in a report on Thursday, February 13th. Evercore ISI initiated coverage on Visa in a report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 target price for the company. Finally, Mizuho raised Visa from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Five investment 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. Based on data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $372.80.

Visa Price Performance

Shares of NYSE:V opened at $373.19 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The company has a market capitalization of $688.59 billion, a P/E ratio of 37.62, a P/E/G ratio of 2.33 and a beta of 0.94. The firm’s 50 day simple moving average is $347.68 and its two-hundred day simple moving average is $336.77.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating 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 business had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the previous year, the firm earned $2.51 earnings per share. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. Research 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 given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s payout ratio is currently 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.