Avidian Wealth Enterprises LLC Reduces Holdings in Visa Inc. (NYSE:V)

Avidian Wealth Enterprises LLC cut its stake in Visa Inc. (NYSE:V - Free Report) by 12.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,830 shares of the credit-card processor's stock after selling 1,070 shares during the period. Avidian Wealth Enterprises LLC's holdings in Visa were worth $2,744,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. NewSquare Capital LLC purchased a new stake in shares of Visa in the fourth quarter valued at about $35,000. Sellwood Investment Partners LLC purchased a new stake in shares of Visa during the fourth quarter worth approximately $41,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Visa during the fourth quarter worth $47,000. Measured Risk Portfolios Inc. acquired a new position in Visa in the 4th quarter valued at $47,000. Finally, Navigoe LLC acquired a new stake in shares of Visa in the 4th quarter worth $53,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Analyst Ratings Changes

V has been the subject of several analyst reports. Macquarie cut their price target 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. Jefferies Financial Group boosted their target price on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. The Goldman Sachs Group began coverage on Visa in a report on Monday, June 2nd. They issued a "neutral" rating for the company. Barclays restated an "overweight" rating on shares of Visa in a research note on Friday, June 13th. Finally, Truist Financial started coverage on Visa in a research report on Monday, June 2nd. They issued a "buy" rating and a $400.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $372.80.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $185,576.46. The trade was a 94.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction 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 transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,478 shares of company stock valued at $33,717,733 over the last 90 days. Insiders own 0.13% of the company's stock.

Visa Stock Performance

Visa stock opened at $355.10 on Tuesday. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The company has a market capitalization of $655.22 billion, a price-to-earnings ratio of 35.69, a PEG ratio of 2.34 and a beta of 0.94. The stock has a fifty day moving average of $354.01 and a two-hundred day moving average of $340.47. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. During the same quarter last year, the business posted $2.51 EPS. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. On average, analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal 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 issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.66%. Visa's dividend payout ratio (DPR) is presently 23.72%.

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.

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.