Geneva Capital Management LLC Sells 582 Shares of Visa Inc. (NYSE:V)

Geneva Capital Management LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 4.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,704 shares of the credit-card processor’s stock after selling 582 shares during the quarter. Geneva Capital Management LLC’s holdings in Visa were worth $3,266,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Capital International Investors grew its holdings in Visa by 2.7% during the 4th quarter. Capital International Investors now owns 22,943,773 shares of the credit-card processor’s stock worth $5,973,432,000 after acquiring an additional 596,950 shares during the last quarter. Capital World Investors lifted its position in Visa by 8.0% during the 4th quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock valued at $4,659,169,000 after purchasing an additional 1,323,238 shares during the period. Norges Bank acquired a new position in Visa during the 4th quarter valued at about $3,895,015,000. Jennison Associates LLC lifted its position in Visa by 0.7% during the 4th quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after purchasing an additional 85,123 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Visa by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,524,329 shares of the credit-card processor’s stock valued at $2,725,079,000 after purchasing an additional 141,566 shares during the period. Institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Evercore ISI cut their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Mizuho upped their target price on shares of Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Wedbush increased their price target on shares of Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Macquarie increased their price target on shares of Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, Redburn Atlantic reiterated a “neutral” rating and issued a $307.00 price target on shares of Visa in a research report on Wednesday, March 27th. Six equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $304.44.

Insider Transactions at Visa

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

Visa Trading Up 1.2 %

Shares of Visa stock opened at $265.60 on Friday. The business has a fifty day simple moving average of $272.88 and a two-hundred day simple moving average of $273.85. Visa Inc. has a 1 year low of $227.68 and a 1 year high of $290.96. The company has a market capitalization of $485.77 billion, a price-to-earnings ratio of 29.34, a P/E/G ratio of 1.80 and a beta of 0.95. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40.

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

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s dividend payout ratio is currently 23.24%.

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.