Mutual Advisors LLC Decreases Position in Visa Inc. (NYSE:V)

Mutual Advisors LLC trimmed its holdings in shares of Visa Inc. (NYSE:V) by 4.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 43,894 shares of the credit-card processor’s stock after selling 2,016 shares during the period. Mutual Advisors LLC’s holdings in Visa were worth $14,712,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in V. Clarity Capital Partners LLC boosted its stake in Visa by 14.1% in the 1st quarter. Clarity Capital Partners LLC now owns 763 shares of the credit-card processor’s stock worth $267,000 after purchasing an additional 94 shares in the last quarter. Clark Asset Management LLC raised its holdings in shares of Visa by 4.6% in the first quarter. Clark Asset Management LLC now owns 12,447 shares of the credit-card processor’s stock worth $4,362,000 after buying an additional 545 shares during the last quarter. Resonant Capital Advisors LLC lifted its stake in shares of Visa by 1.6% during the first quarter. Resonant Capital Advisors LLC now owns 20,329 shares of the credit-card processor’s stock worth $7,125,000 after buying an additional 320 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of Visa by 40.2% during the first quarter. First Horizon Advisors Inc. now owns 34,302 shares of the credit-card processor’s stock worth $12,022,000 after buying an additional 9,834 shares during the period. Finally, Revisor Wealth Management LLC grew its holdings in shares of Visa by 37.8% during the first quarter. Revisor Wealth Management LLC now owns 3,270 shares of the credit-card processor’s stock valued at $1,146,000 after buying an additional 897 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Piper Sandler lifted their price target on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. William Blair reaffirmed an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. Susquehanna reiterated a “positive” rating on shares of Visa in a report on Friday, March 21st. Macquarie reduced their price target on shares of Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group initiated coverage on shares of Visa in a report on Monday, June 2nd. They issued a “neutral” rating on the stock. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $372.84.

Visa Price Performance

Visa stock opened at $358.70 on Friday. The stock has a market capitalization of $661.86 billion, a P/E ratio of 36.05, a P/E/G ratio of 2.43 and a beta of 0.92. The company’s fifty day moving average price is $355.79 and its 200 day moving average price is $341.24. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $375.51.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating 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 business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter last year, the business earned $2.51 earnings per share. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.66%. Visa’s payout ratio is currently 23.72%.

Insider Buying and Selling at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction that occurred 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider directly owned 26,413 shares of the company’s stock, 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 101,108 shares of company stock valued at $36,771,200 over the last quarter. 0.13% of the stock is currently owned by insiders.

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.