Steigerwald Gordon & Koch Inc. Sells 912 Shares of Visa Inc. (NYSE:V)

Steigerwald Gordon & Koch Inc. trimmed its holdings in shares of Visa Inc. (NYSE:V) by 1.1% in the first quarter, Holdings Channel reports. The firm owned 81,456 shares of the credit-card processor’s stock after selling 912 shares during the period. Visa makes up 3.2% of Steigerwald Gordon & Koch Inc.’s portfolio, making the stock its 4th biggest position. Steigerwald Gordon & Koch Inc.’s holdings in Visa were worth $28,547,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. ACT Advisors LLC. purchased a new stake in Visa during the 1st quarter worth $201,000. KWB Wealth boosted its position in Visa by 3.3% in the 1st quarter. KWB Wealth now owns 3,538 shares of the credit-card processor’s stock valued at $1,240,000 after buying an additional 114 shares during the last quarter. Cypress Wealth Services LLC grew its stake in shares of Visa by 3.4% during the first quarter. Cypress Wealth Services LLC now owns 3,425 shares of the credit-card processor’s stock valued at $1,200,000 after acquiring an additional 114 shares in the last quarter. Maltin Wealth Management Inc. purchased a new stake in shares of Visa during the first quarter worth about $221,000. Finally, Beacon Financial Group lifted its stake in shares of Visa by 1.7% in the first quarter. Beacon Financial Group now owns 12,213 shares of the credit-card processor’s stock worth $4,280,000 after acquiring an additional 202 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on V shares. Susquehanna restated a “positive” rating on shares of Visa in a research note on Friday, March 21st. Truist Financial started coverage on shares of Visa in a research report on Monday. They set a “buy” rating and a $400.00 price target for the company. UBS Group lifted their price target on shares of Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Wednesday, May 28th. Oppenheimer reiterated an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating on shares of Visa in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $367.48.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total value of $3,020,792.80. Following the completion of the transaction, the chief executive officer now owns 537 shares in the company, valued at $188,186.28. This represents a 94.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the transaction, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,948 shares of company stock worth $41,546,299 in the last ninety days. 0.13% of the stock is owned by insiders.

Visa Trading Up 0.6%

Shares of NYSE V opened at $368.04 on Thursday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $371.75. The company has a market cap of $679.09 billion, a price-to-earnings ratio of 37.10, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The stock’s 50 day simple moving average is $344.66 and its 200 day simple moving average is $334.72.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period last year, the company earned $2.51 earnings per share. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. Equities research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.64%. Visa’s dividend payout ratio is presently 23.72%.

About Visa

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.