BLB&B Advisors LLC Sells 3,337 Shares of Visa Inc. (NYSE:V)

BLB&B Advisors LLC lowered its holdings in Visa Inc. (NYSE:V - Free Report) by 5.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,796 shares of the credit-card processor's stock after selling 3,337 shares during the period. Visa makes up about 1.1% of BLB&B Advisors LLC's portfolio, making the stock its 23rd largest holding. BLB&B Advisors LLC's holdings in Visa were worth $22,007,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in V. Norges Bank acquired a new stake in shares of Visa during the 4th quarter worth $5,171,271,000. GAMMA Investing LLC raised its stake in Visa by 38,416.3% in the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after purchasing an additional 14,723,050 shares in the last quarter. Vanguard Group Inc. lifted its position in Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after purchasing an additional 7,079,706 shares during the period. Raymond James Financial Inc. acquired a new stake in Visa during the fourth quarter worth about $1,955,403,000. Finally, Northern Trust Corp increased its holdings in Visa by 18.0% in the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after buying an additional 2,785,707 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the sale, the insider directly owned 26,413 shares in the company, valued at $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at $185,576.46. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,478 shares of company stock worth $33,717,733. Company insiders own 0.13% of the company's stock.

Visa Stock Down 0.4%

Shares of NYSE:V opened at $353.99 on Thursday. The firm has a market cap of $653.17 billion, a P/E ratio of 35.58, a P/E/G ratio of 2.41 and a beta of 0.92. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The business has a fifty day simple moving average of $354.87 and a 200 day simple moving average of $340.67. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45.

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

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders 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 annualized dividend and a yield of 0.67%. Visa's payout ratio is 23.72%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on V. The Goldman Sachs Group started coverage on shares of Visa in a report on Monday, June 2nd. They set a "neutral" rating for the company. Jefferies Financial Group raised their target price on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Piper Sandler lifted their price target on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. BMO Capital Markets upped their price objective on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Finally, Truist Financial started coverage on Visa in a research report on Monday, June 2nd. They issued a "buy" rating and a $400.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $372.84.

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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