Buffington Mohr McNeal Sells 4,682 Shares of Visa Inc. (NYSE:V)

Buffington Mohr McNeal decreased its stake in shares of Visa Inc. (NYSE:V - Free Report) by 11.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,732 shares of the credit-card processor's stock after selling 4,682 shares during the period. Visa comprises about 2.5% of Buffington Mohr McNeal's holdings, making the stock its 14th largest position. Buffington Mohr McNeal's holdings in Visa were worth $12,873,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Lakeridge Wealth Management LLC boosted its position in Visa by 5.7% in the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after purchasing an additional 81 shares during the last quarter. Blue Rock Wealth Management LLC purchased a new position in Visa in the fourth quarter worth $306,000. Aptus Capital Advisors LLC boosted its position in Visa by 19.8% in the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock worth $57,727,000 after purchasing an additional 30,185 shares during the last quarter. King Wealth Management Group boosted its position in Visa by 9.0% in the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock worth $23,663,000 after purchasing an additional 6,172 shares during the last quarter. Finally, Eagle Strategies LLC boosted its position in Visa by 2.5% in the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock worth $811,000 after purchasing an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Stock Performance

Shares of NYSE:V traded down $2.21 during midday trading on Tuesday, reaching $354.43. 6,964,583 shares of the company traded hands, compared to its average volume of 6,837,239. 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 Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. The firm has a market capitalization of $653.98 billion, a price-to-earnings ratio of 35.62, a price-to-earnings-growth ratio of 2.42 and a beta of 0.92. The firm's fifty day moving average price is $356.43 and its two-hundred day moving average price is $342.00.

Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The company's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.51 EPS. On average, equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid 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 0.67%. Visa's dividend payout ratio is currently 23.72%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Susquehanna reissued a "positive" rating on shares of Visa in a research report on Friday, March 21st. William Blair reissued an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on Visa in a research report on Monday, June 2nd. They issued a "neutral" rating on the stock. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Finally, BMO Capital Markets boosted 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. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $372.84.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction dated 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,108 shares of company stock worth $36,771,200 in the last ninety days. 0.13% of the stock is currently owned by insiders.

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.