Alps Advisors Inc. Sells 21,526 Shares of Visa Inc. (NYSE:V)

Alps Advisors Inc. trimmed its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 14.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 126,420 shares of the credit-card processor's stock after selling 21,526 shares during the period. Alps Advisors Inc.'s holdings in Visa were worth $44,305,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Allworth Financial LP raised its position in shares of Visa by 1.3% during the first quarter. Allworth Financial LP now owns 116,092 shares of the credit-card processor's stock worth $38,973,000 after purchasing an additional 1,505 shares during the period. Stonebrook Private Inc. raised its position in shares of Visa by 3.5% during the first quarter. Stonebrook Private Inc. now owns 8,356 shares of the credit-card processor's stock worth $2,929,000 after purchasing an additional 281 shares during the period. Parr Mcknight Wealth Management Group LLC raised its position in shares of Visa by 14.7% during the first quarter. Parr Mcknight Wealth Management Group LLC now owns 6,284 shares of the credit-card processor's stock worth $2,202,000 after purchasing an additional 805 shares during the period. Poinciana Advisors Group LLC acquired a new position in shares of Visa during the first quarter worth approximately $223,000. Finally, Peddock Capital Advisors LLC raised its position in shares of Visa by 3.1% during the first quarter. Peddock Capital Advisors LLC now owns 1,421 shares of the credit-card processor's stock worth $498,000 after purchasing an additional 43 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

V has been the subject of several recent research reports. Barclays reiterated an "overweight" rating on shares of Visa in a report on Friday, June 13th. Truist Financial initiated coverage on Visa in a report on Monday, June 2nd. They set a "buy" rating and a $400.00 price target for the company. Citigroup initiated coverage on Visa in a report on Monday, June 2nd. They set a "buy" rating for the company. Jefferies Financial Group upped their price target on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Finally, Susquehanna reiterated a "positive" rating on shares of Visa in a report on Friday, March 21st. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Visa has a consensus rating of "Moderate Buy" and a consensus target price of $372.84.

Visa Stock Down 2.3%

V stock opened at $347.71 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $641.58 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 2.41 and a beta of 0.92. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The stock has a fifty day moving average of $356.93 and a 200-day moving average of $342.56.

Visa (NYSE:V - Get Free Report) last posted its quarterly 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. The company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.51 EPS. As a group, equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current 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 paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. Visa's payout ratio is 23.72%.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the sale, the insider directly owned 26,413 shares in the company, valued at $9,772,810. This trade represents a 63.63% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,108 shares of company stock worth $36,771,200. 0.13% of the stock is owned by company insiders.

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.

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