Hillsdale Investment Management Inc. Reduces Stake in Visa Inc. $V

Hillsdale Investment Management Inc. lessened its holdings in Visa Inc. (NYSE:V) by 6.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,375 shares of the credit-card processor’s stock after selling 1,820 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Visa were worth $7,367,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. 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 last quarter. PayPay Securities Corp lifted its holdings in shares of Visa by 102.7% in the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after buying an additional 38 shares during the period. Cresta Advisors Ltd. purchased a new stake in shares of Visa in the fourth quarter worth about $26,000. Parvin Asset Management LLC grew its holdings in Visa by 200.0% during the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after acquiring an additional 50 shares during the period. Finally, Dorato Capital Management purchased a new position in Visa during the fourth quarter valued at approximately $30,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of NYSE V opened at $357.02 on Tuesday. The firm has a market cap of $640.41 billion, a PE ratio of 31.10, a PEG ratio of 1.86 and a beta of 0.75. The firm has a fifty day moving average of $331.34 and a 200 day moving average of $324.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09. Visa Inc. has a one year low of $293.89 and a one year high of $365.02.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. The company had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.76 earnings per share. As a group, research analysts predict that Visa Inc. will post 13.1 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors 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 dividend payout ratio is 23.34%.

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

Analyst Upgrades and Downgrades

V has been the topic of a number of recent analyst reports. Raymond James Financial reissued an “outperform” rating and set a $389.00 price target on shares of Visa in a report on Wednesday, April 29th. Loop Capital began coverage on shares of Visa in a research report on Tuesday, March 31st. They issued a “buy” rating and a $387.00 price objective for the company. 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. Weiss Ratings upgraded Visa from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, July 6th. Finally, UBS Group lifted their price target on Visa from $390.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Seven equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Visa presently has a consensus rating of “Buy” and an average price target of $397.91.

Insider Buying and Selling

In other Visa news, CFO Chris Suh sold 10,639 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the sale, the chief financial officer directly owned 9,872 shares in the company, valued at approximately $3,206,524.32. The trade was a 51.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 31,455 shares of the stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total value of $10,699,103.70. Following the transaction, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at $5,161,284.36. The trade was a 67.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 75,581 shares of company stock worth $25,627,975 in the last 90 days. Insiders own 0.12% of the company’s stock.

Visa 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.