Relyea Zuckerberg Hanson LLC Cuts Stake in Visa Inc. $V

Relyea Zuckerberg Hanson LLC lessened its holdings in Visa Inc. (NYSE:V) by 18.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 12,956 shares of the credit-card processor’s stock after selling 2,943 shares during the quarter. Relyea Zuckerberg Hanson LLC’s holdings in Visa were worth $3,916,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Clayton Financial Group LLC boosted its holdings in Visa by 446.2% in the fourth quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock valued at $25,000 after purchasing an additional 58 shares during the period. PayPay Securities Corp increased its holdings in Visa by 102.7% during the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 38 shares during the period. Cresta Advisors Ltd. acquired a new stake in Visa in the 4th quarter valued at about $26,000. Parvin Asset Management LLC raised its position in Visa by 200.0% in the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. Finally, Dorato Capital Management purchased a new position in shares of Visa in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total value of $729,720.00. Following the completion of the sale, the general counsel directly owned 18,404 shares of the company’s stock, valued at $6,625,440. The trade was a 9.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 10,490 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $343.99, for a total transaction of $3,608,455.10. Following the completion of the transaction, the chief executive officer owned 15,174 shares of the company’s stock, valued at $5,219,704.26. This represents a 40.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 75,581 shares of company stock worth $25,627,975. 0.12% of the stock is currently owned by insiders.

Visa Stock Up 0.2%

Shares of V traded up $0.85 during mid-day trading on Friday, reaching $349.05. The company’s stock had a trading volume of 4,701,656 shares, compared to its average volume of 8,985,494. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $365.02. The stock has a market cap of $626.12 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 1.86 and a beta of 0.75. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09. The company’s 50 day moving average is $330.81 and its 200 day moving average is $325.05.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.21. The business had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the company earned $2.76 EPS. Equities analysts anticipate that Visa Inc. will post 13.1 EPS for the current fiscal year.

Visa announced that its board has approved a stock repurchase plan on Tuesday, April 28th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the credit-card processor to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, May 12th. Visa’s payout ratio is currently 23.34%.

Analysts Set New Price Targets

A number of analysts recently weighed in on V shares. Truist Financial set a $371.00 target price on shares of Visa and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Evercore set a $350.00 price target on shares of Visa in a research note on Wednesday, April 29th. Morgan Stanley reiterated an “overweight” rating and set a $415.00 price target on shares of Visa in a report on Wednesday, April 29th. UBS Group increased their price objective on shares of Visa from $390.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Barclays started coverage on shares of Visa in a report on Tuesday. They issued an “overweight” rating and a $420.00 price objective on the stock. Seven equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Visa presently has an average rating of “Buy” and an average target price of $397.91.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.