Beach Investment Counsel Inc. PA Sells 975 Shares of Visa Inc. (NYSE:V)

Beach Investment Counsel Inc. PA lowered its stake in shares of Visa Inc. (NYSE:V) by 2.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 39,587 shares of the credit-card processor’s stock after selling 975 shares during the quarter. Visa makes up 2.0% of Beach Investment Counsel Inc. PA’s holdings, making the stock its 17th biggest position. Beach Investment Counsel Inc. PA’s holdings in Visa were worth $13,874,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of V. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Visa during the 4th quarter valued at approximately $27,000. POM Investment Strategies LLC lifted its position in shares of Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 32 shares during the last quarter. Compass Planning Associates Inc purchased a new stake in shares of Visa during the fourth quarter valued at $32,000. NewSquare Capital LLC bought a new position in shares of Visa in the fourth quarter worth about $35,000. Finally, FPC Investment Advisory Inc. increased its stake in Visa by 377.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock worth $36,000 after buying an additional 83 shares during the period. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on V. Piper Sandler raised their price target on shares of Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Citigroup began coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “buy” rating on the stock. Susquehanna reaffirmed a “positive” rating on shares of Visa in a research note on Friday, March 21st. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Finally, UBS Group raised 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. 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 company’s stock. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $372.80.

Visa Stock Up 1.0%

NYSE:V opened at $370.44 on Friday. 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 capitalization of $683.52 billion, a P/E ratio of 37.34, a P/E/G ratio of 2.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The company’s 50-day simple moving average is $345.45 and its 200-day simple moving average is $335.70.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The business had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. During the same period last year, the business earned $2.51 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. On average, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Insider Activity

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

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.