Beach Investment Counsel Inc. PA Sells 975 Shares of Visa Inc. (NYSE:V)

Beach Investment Counsel Inc. PA trimmed its holdings in Visa Inc. (NYSE:V - Free Report) by 2.4% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 39,587 shares of the credit-card processor's stock after selling 975 shares during the quarter. Visa comprises approximately 2.0% of Beach Investment Counsel Inc. PA's portfolio, making the stock its 17th biggest position. Beach Investment Counsel Inc. PA's holdings in Visa were worth $13,874,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Lpwm LLC bought a new stake in Visa in the 1st quarter worth about $221,000. Miracle Mile Advisors LLC increased its holdings in Visa by 5.8% in the 1st quarter. Miracle Mile Advisors LLC now owns 40,387 shares of the credit-card processor's stock worth $14,154,000 after buying an additional 2,214 shares in the last quarter. RDA Financial Network grew its stake in shares of Visa by 39.4% during the 1st quarter. RDA Financial Network now owns 17,143 shares of the credit-card processor's stock valued at $6,008,000 after purchasing an additional 4,849 shares during the period. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Visa by 1.4% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 13,422 shares of the credit-card processor's stock valued at $4,704,000 after purchasing an additional 181 shares during the period. Finally, Revolve Wealth Partners LLC grew its stake in shares of Visa by 3.1% during the 1st quarter. Revolve Wealth Partners LLC now owns 12,172 shares of the credit-card processor's stock valued at $4,266,000 after purchasing an additional 361 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $359.00 to $425.00 in a research note on Thursday. Oppenheimer restated an "outperform" rating on shares of Visa in a research note on Thursday, February 13th. Evercore ISI assumed coverage on Visa in a research note on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price target for the company. Citigroup assumed coverage on Visa in a research note on Monday, June 2nd. They set a "buy" rating for the company. Finally, The Goldman Sachs Group assumed coverage on Visa in a research note on Monday, June 2nd. They set a "neutral" rating for the company. Five research 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 company. Based on data from MarketBeat.com, Visa presently has a consensus rating of "Moderate Buy" and a consensus target price of $372.80.

Insider Buying and Selling

In other news, insider Paul D. Fabara sold 46,214 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the sale, the insider now directly owns 26,413 shares of the company's stock, valued at $9,772,810. This represents a 63.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $362.77, for a total value of $3,127,077.40. Following the sale, the chief executive officer now directly owns 537 shares in the company, valued at $194,807.49. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 168,162 shares of company stock valued at $58,645,479. Corporate insiders own 0.13% of the company's stock.

Visa Stock Up 1.0%

NYSE V opened at $370.44 on Friday. The stock's 50 day moving average is $345.45 and its 200 day moving average is $335.70. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $371.00. The stock has a market cap of $683.52 billion, a PE ratio of 37.34, a P/E/G ratio of 2.33 and a beta of 0.94.

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, topping analysts' consensus estimates of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. During the same period in the previous year, the firm earned $2.51 EPS. The firm's revenue was up 9.3% compared to the same quarter last year. Research analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.64%. Visa's dividend payout ratio is presently 23.72%.

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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