Alta Capital Management LLC Cuts Holdings in Visa Inc. (NYSE:V)

Alta Capital Management LLC cut its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 23.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 87,276 shares of the credit-card processor's stock after selling 27,326 shares during the period. Visa makes up 2.0% of Alta Capital Management LLC's holdings, making the stock its 23rd biggest holding. Alta Capital Management LLC's holdings in Visa were worth $30,587,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Visa in the 4th quarter worth approximately $27,000. Compass Planning Associates Inc purchased a new position in Visa in the fourth quarter worth $32,000. NewSquare Capital LLC bought a new position in Visa in the 4th quarter valued at $35,000. FPC Investment Advisory Inc. increased its position in shares of Visa by 377.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor's stock valued at $36,000 after purchasing an additional 83 shares during the last quarter. Finally, Sellwood Investment Partners LLC bought a new stake in shares of Visa during the 4th quarter worth $41,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the sale, the general counsel now directly owns 11,925 shares of the company's stock, valued at $4,121,041.50. The trade was a 17.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the transaction, the insider now directly owns 26,413 shares of the company's stock, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,098 shares of company stock valued at $36,738,526 over the last ninety days. 0.13% of the stock is owned by insiders.

Visa Trading Up 2.3%

Visa stock traded up $7.90 during trading hours on Tuesday, reaching $351.65. The company had a trading volume of 10,168,661 shares, compared to its average volume of 7,056,915. The firm has a market cap of $648.84 billion, a price-to-earnings ratio of 35.34, a P/E/G ratio of 2.28 and a beta of 0.94. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The company has a 50-day moving average price of $351.95 and a 200 day moving average price of $339.18.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. The company had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm's revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.51 EPS. Equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa's dividend payout ratio is currently 23.72%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Citigroup began coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating for the company. The Goldman Sachs Group initiated coverage on shares of Visa in a report on Monday, June 2nd. They issued a "neutral" rating on the stock. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Truist Financial initiated coverage on Visa in a research note on Monday, June 2nd. They issued a "buy" rating and a $400.00 target price on the stock. Finally, William Blair reissued an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $372.80.

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.