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

Buffington Mohr McNeal trimmed its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 11.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,732 shares of the credit-card processor's stock after selling 4,682 shares during the period. Visa comprises 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 SEC filing.

Several other hedge funds also recently modified their holdings of V. Lakeridge Wealth Management LLC lifted its stake 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 valued at $528,000 after acquiring an additional 81 shares during the last quarter. Blue Rock Wealth Management LLC bought a new stake in shares of Visa in the 4th quarter valued at about $306,000. Aptus Capital Advisors LLC raised its holdings in shares of Visa by 19.8% in the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock valued at $57,727,000 after purchasing an additional 30,185 shares during the period. King Wealth Management Group lifted its stake in Visa by 9.0% in the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock valued at $23,663,000 after purchasing an additional 6,172 shares during the last quarter. Finally, Eagle Strategies LLC grew its holdings in Visa by 2.5% during 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 period. Institutional investors own 82.15% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on V. Piper Sandler upped their price objective on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Macquarie dropped their price target on Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Citigroup initiated coverage on Visa in a report on Monday, June 2nd. They set a "buy" rating for the company. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Finally, Jefferies Financial Group raised their target price on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $372.84.

Visa Stock Up 1.3%

Shares of NYSE:V opened at $358.70 on Friday. The firm has a market capitalization of $661.86 billion, a PE ratio of 36.05, a price-to-earnings-growth ratio of 2.43 and a beta of 0.92. 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 Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. The firm has a fifty day moving average of $355.79 and a 200 day moving average of $341.24.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. During the same period last year, the company posted $2.51 EPS. Visa's revenue was up 9.3% on a year-over-year basis. As a group, research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given 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 0.66%. Visa's dividend payout ratio is presently 23.72%.

Insider Buying and Selling at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,575 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 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 trade represents a 17.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,108 shares of company stock valued at $36,771,200 in the last quarter. 0.13% of the stock is owned by insiders.

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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