Audent Global Asset Management LLC Sells 408 Shares of Visa Inc. (NYSE:V)

Audent Global Asset Management LLC reduced its holdings in Visa Inc. (NYSE:V) by 11.1% in the 1st quarter, Holdings Channel reports. The fund owned 3,273 shares of the credit-card processor’s stock after selling 408 shares during the quarter. Audent Global Asset Management LLC’s holdings in Visa were worth $1,147,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of V. Vanguard Group Inc. lifted its position in Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after acquiring an additional 7,079,706 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Visa by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock valued at $12,729,901,000 after acquiring an additional 1,689,926 shares during the last quarter. Capital International Investors raised its holdings in Visa by 3.8% during the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor’s stock worth $7,526,660,000 after acquiring an additional 866,596 shares in the last quarter. Capital World Investors boosted its position in Visa by 1.0% during the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor’s stock valued at $7,356,614,000 after purchasing an additional 241,057 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Visa by 18.0% during the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock valued at $5,771,116,000 after purchasing an additional 2,785,707 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity

In other Visa news, 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 completion of the transaction, the insider owned 26,413 shares in the company, valued at approximately $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,108 shares of company stock worth $36,771,200. Insiders own 0.13% of the company’s stock.

Visa Price Performance

Shares of Visa stock opened at $358.70 on Friday. The business has a 50 day moving average of $355.79 and a 200 day moving average of $341.24. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The company has a market cap of $661.86 billion, a PE ratio of 36.05, a P/E/G ratio of 2.43 and a beta of 0.92.

Visa (NYSE:V) last issued its quarterly 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 52.86% and a return on equity of 56.28%. The company had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same period last year, the business earned $2.51 EPS. Visa’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have weighed in on V shares. The Goldman Sachs Group started coverage on Visa in a research report on Monday, June 2nd. They set a “neutral” rating on the stock. Susquehanna restated a “positive” rating on shares of Visa in a report on Friday, March 21st. Citigroup initiated coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “buy” rating for the company. Jefferies Financial Group boosted their price objective on shares of Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research note on Tuesday, May 27th. Finally, Barclays reiterated an “overweight” rating on shares of Visa in a research note on Friday, June 13th. Five 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 stock. According to data from MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus target price of $372.84.

Visa Company 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.