Snider Financial Group Has $3.45 Million Holdings in Visa Inc. (NYSE:V)

Snider Financial Group cut its stake in shares of Visa Inc. (NYSE:V) by 3.2% in the 1st quarter, HoldingsChannel reports. The fund owned 9,844 shares of the credit-card processor’s stock after selling 329 shares during the quarter. Snider Financial Group’s holdings in Visa were worth $3,450,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of V. Capital & Planning LLC raised its position in shares of Visa by 21.2% in the fourth quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor’s stock valued at $300,000 after buying an additional 166 shares in the last quarter. Sovereign Investment Advisors LLC acquired a new stake in shares of Visa in the fourth quarter valued at approximately $424,000. Brighton Jones LLC raised its position in shares of Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after buying an additional 6,883 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Visa in the fourth quarter valued at approximately $202,074,000. Finally, Revolve Wealth Partners LLC raised its position in shares of Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after buying an additional 4,817 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Performance

NYSE V opened at $370.44 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $371.00. The stock has a market cap of $683.52 billion, a PE ratio of 37.34, a PEG ratio of 2.33 and a beta of 0.96. The firm’s fifty day moving average price is $345.45 and its two-hundred day moving average price is $335.50.

Visa (NYSE:V) last issued its quarterly earnings data 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 net margin of 54.27% and a return on equity of 54.79%. The company had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter in the previous year, the firm posted $2.51 earnings per share. Visa’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently weighed in on V. Piper Sandler lifted their price target on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Evercore ISI assumed coverage on shares of Visa in a research note on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 price objective on the stock. Wall Street Zen raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Macquarie decreased their price objective on shares of Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Finally, Truist Financial assumed coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “buy” rating and a $400.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average price target of $372.80.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the transaction, the chief executive officer now owns 537 shares in the company, valued at approximately $188,186.28. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 46,214 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,162 shares of company stock worth $58,645,479 over the last quarter. Company insiders own 0.13% of the company’s stock.

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.