Catalina Capital Group LLC Sells 7,620 Shares of Visa Inc. (NYSE:V)

Catalina Capital Group LLC reduced its position in Visa Inc. (NYSE:V - Free Report) by 77.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,204 shares of the credit-card processor's stock after selling 7,620 shares during the quarter. Catalina Capital Group LLC's holdings in Visa were worth $773,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Visa in the fourth quarter worth approximately $5,171,271,000. GAMMA Investing LLC boosted its holdings in shares of Visa by 38,416.3% during the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock worth $5,173,271,000 after buying an additional 14,723,050 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after buying an additional 7,079,706 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Visa during the 4th quarter worth approximately $1,955,403,000. Finally, Proficio Capital Partners LLC increased its stake in shares of Visa by 17,018.7% in the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor's stock valued at $1,248,079,000 after acquiring an additional 3,926,049 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the transaction, the insider now directly owns 26,413 shares of the company's stock, valued at approximately $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm'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 sale, the chief executive officer now directly owns 537 shares of the company's stock, valued at $185,576.46. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,098 shares of company stock worth $36,738,526 in the last quarter. 0.13% of the stock is currently owned by company insiders.

Visa Stock Down 0.7%

Visa stock traded down $2.34 during midday trading on Friday, hitting $338.04. 19,326,861 shares of the stock were exchanged, compared to its average volume of 7,085,858. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The business's 50-day moving average price is $351.69 and its 200-day moving average price is $338.37. The stock has a market capitalization of $623.73 billion, a price-to-earnings ratio of 33.97, a price-to-earnings-growth ratio of 2.29 and a beta of 0.94.

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 firm had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The company's revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.51 EPS. On average, research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.70%. Visa's dividend payout ratio is currently 23.72%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Evercore ISI assumed coverage on shares of Visa in a research note on Wednesday, April 9th. They set an "in-line" rating and a $330.00 target price on the stock. William Blair reissued an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. UBS Group raised their target price on Visa from $395.00 to $405.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. BMO Capital Markets boosted their target price on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group assumed coverage on Visa in a report on Monday, June 2nd. They issued a "neutral" rating 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 given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $372.80.

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.