Avalon Capital Management Cuts Stock Holdings in Visa Inc. (NYSE:V)

Key Points

• Avalon Capital Management reduced its stake in Visa Inc. by 14.6% in the first quarter, holding 5,588 shares worth approximately $1.96 million after selling 955 shares.
• Visa's quarterly earnings reported an EPS of $2.76, exceeding analysts' expectations of $2.68, with revenues of $9.59 billion reflecting a 9.3% year-over-year growth.
• Insiders sold over 101,000 shares of Visa stock worth nearly $36.8 million in the last ninety days, indicating significant insider trading activity.

Avalon Capital Management decreased its stake in shares of Visa Inc. (NYSE:V - Free Report) by 14.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,588 shares of the credit-card processor's stock after selling 955 shares during the period. Avalon Capital Management's holdings in Visa were worth $1,958,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of V. von Borstel & Associates Inc. bought a new stake in shares of Visa in the 1st quarter worth approximately $27,000. Measured Risk Portfolios Inc. purchased a new position in Visa during the fourth quarter valued at $47,000. O Brien Wealth Partners LLC purchased a new position in Visa during the first quarter valued at $54,000. Global X Japan Co. Ltd. bought a new stake in Visa in the first quarter worth $56,000. Finally, Cedar Mountain Advisors LLC grew its stake in shares of Visa by 28.5% in the first quarter. Cedar Mountain Advisors LLC now owns 167 shares of the credit-card processor's stock worth $59,000 after acquiring an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Stock Performance

Shares of V stock traded down $1.93 during mid-day trading on Thursday, reaching $348.98. 4,002,854 shares of the company's stock traded hands, compared to its average volume of 6,584,005. 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 firm has a market capitalization of $643.92 billion, a PE ratio of 34.14, a price-to-earnings-growth ratio of 2.37 and a beta of 0.92. Visa Inc. has a 12 month low of $254.51 and a 12 month high of $375.51. The firm has a 50 day moving average price of $355.61 and a two-hundred day moving average price of $345.86.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 59.03% and a net margin of 52.16%. Visa's quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.42 earnings per share. On average, research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. Visa's payout ratio is 23.05%.

Insider Buying and Selling

In other Visa 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 value of $3,053,466.60. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the firm's 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 sale, the insider directly owned 26,413 shares in the company, valued at approximately $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,913 shares of company stock valued at $32,902,432. Company insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on V. Evercore ISI assumed coverage on shares of Visa in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price target on the stock. Macquarie decreased their target price on shares of Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Citigroup assumed coverage on shares of Visa in a report on Monday, June 2nd. They set a "buy" rating on the stock. Truist Financial decreased their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Finally, The Goldman Sachs Group began coverage on Visa in a research report on Monday, June 2nd. They issued a "neutral" rating on the stock. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Visa has a consensus rating of "Moderate Buy" and a consensus target price of $379.04.

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.