Strategic Advisors LLC Cuts Stock Position in Visa Inc. (NYSE:V)

Strategic Advisors LLC lowered its position in Visa Inc. (NYSE:V) by 2.6% in the 1st quarter, Holdings Channel reports. The fund owned 37,519 shares of the credit-card processor’s stock after selling 1,002 shares during the quarter. Visa accounts for 2.1% of Strategic Advisors LLC’s holdings, making the stock its 10th biggest holding. Strategic Advisors LLC’s holdings in Visa were worth $10,471,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Visa in the fourth quarter worth $3,895,015,000. International Assets Investment Management LLC grew its position in Visa by 17,418.7% during the 4th quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock valued at $1,233,338,000 after purchasing an additional 4,710,188 shares during the last quarter. Public Employees Retirement Association of Colorado increased its stake in Visa by 14,306.3% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock valued at $390,595,000 after purchasing an additional 1,489,856 shares in the last quarter. Capital World Investors raised its holdings in Visa by 8.0% in the fourth quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock worth $4,659,169,000 after buying an additional 1,323,238 shares during the last quarter. Finally, Capital Research Global Investors grew its holdings in shares of Visa by 139.4% during the fourth quarter. Capital Research Global Investors now owns 2,185,077 shares of the credit-card processor’s stock valued at $568,885,000 after buying an additional 1,272,211 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

V traded up $0.35 on Friday, hitting $269.34. 1,314,546 shares of the company’s stock traded hands, compared to its average volume of 6,776,247. The company’s 50 day simple moving average is $273.33 and its 200-day simple moving average is $273.62. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a one year low of $227.68 and a one year high of $290.96. The firm has a market cap of $492.61 billion, a price-to-earnings ratio of 30.05, a P/E/G ratio of 1.84 and a beta of 0.95.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The business had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. During the same period last year, the firm posted $2.09 EPS. The company’s revenue was up 9.9% on a year-over-year basis. As a group, research analysts anticipate that Visa Inc. will post 9.94 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.77%. The ex-dividend date was Thursday, May 16th. Visa’s payout ratio is currently 23.24%.

Insiders Place Their Bets

In related news, Director Lloyd Carney sold 909 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lloyd Carney sold 909 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Piper Sandler began coverage on Visa in a research report on Monday, May 13th. They issued an “overweight” rating and a $322.00 price objective on the stock. Redburn Atlantic reiterated a “neutral” rating and issued a $307.00 price objective on shares of Visa in a report on Wednesday, March 27th. Macquarie raised their price target on shares of Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Royal Bank of Canada boosted their price objective on shares of Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, UBS Group raised their target price on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average target price of $303.56.

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.