Asset Dedication LLC Reduces Stock Holdings in Visa Inc. (NYSE:V)

Asset Dedication LLC cut its holdings in Visa Inc. (NYSE:V - Free Report) by 3.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,901 shares of the credit-card processor's stock after selling 726 shares during the period. Visa accounts for 0.6% of Asset Dedication LLC's holdings, making the stock its 28th biggest holding. Asset Dedication LLC's holdings in Visa were worth $6,975,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in V. von Borstel & Associates Inc. bought a new position in shares of Visa during the 1st quarter valued at approximately $27,000. Sellwood Investment Partners LLC bought a new position in Visa during the fourth quarter valued at $41,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Visa in the 4th quarter worth $47,000. Measured Risk Portfolios Inc. bought a new stake in shares of Visa in the 4th quarter worth about $47,000. Finally, Navigoe LLC purchased a new stake in shares of Visa during the 4th quarter valued at about $53,000. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on V shares. Truist Financial began coverage on Visa in a research note on Monday, June 2nd. They set a "buy" rating and a $400.00 price objective on the stock. Susquehanna reissued a "positive" rating on shares of Visa in a research report on Friday, March 21st. Oppenheimer raised their price target on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Barclays reiterated an "overweight" rating on shares of Visa in a research report on Friday, June 13th. Finally, Piper Sandler increased their target price on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $372.84.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,630 shares of the company's 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 sale, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction dated 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 transaction, the insider 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. Insiders sold 101,108 shares of company stock valued at $36,771,200 over the last 90 days. Corporate insiders own 0.13% of the company's stock.

Visa Trading Up 0.7%

Shares of NYSE V traded up $2.52 during trading hours on Monday, reaching $350.45. The stock had a trading volume of 5,598,849 shares, compared to its average volume of 6,693,063. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. The firm has a market cap of $646.63 billion, a price-to-earnings ratio of 35.22, a P/E/G ratio of 2.36 and a beta of 0.92. The business's fifty day moving average price is $356.93 and its two-hundred day moving average price is $342.86. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V - Get Free Report) last posted its 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. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter last year, the firm posted $2.51 EPS. The company's revenue for the quarter was up 9.3% on a year-over-year basis. Analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

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

Visa Company 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.