Channel Wealth LLC Decreases Stock Holdings in Visa Inc. (NYSE:V)

Channel Wealth LLC lowered its stake in shares of Visa Inc. (NYSE:V - Free Report) by 10.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,365 shares of the credit-card processor's stock after selling 752 shares during the quarter. Channel Wealth LLC's holdings in Visa were worth $2,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Visa in the 4th quarter worth $27,000. POM Investment Strategies LLC boosted its holdings in Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock worth $31,000 after acquiring an additional 32 shares in the last quarter. Compass Planning Associates Inc acquired a new stake in Visa in the fourth quarter worth about $32,000. NewSquare Capital LLC purchased a new stake in shares of Visa during the fourth quarter worth about $35,000. Finally, FPC Investment Advisory Inc. increased its holdings in shares of Visa by 377.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor's stock valued at $36,000 after acquiring an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on V shares. Piper Sandler boosted their target price on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group began coverage on shares of Visa in a research note on Monday. They set a "neutral" rating for the company. Macquarie cut their target price on Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $359.00 to $425.00 in a research report on Thursday. Finally, William Blair reiterated an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Five 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 an average rating of "Moderate Buy" and a consensus price target of $372.80.

Visa Price Performance

Shares of NYSE:V traded up $3.67 during trading on Friday, reaching $370.44. 5,007,822 shares of the company's stock traded hands, compared to its average volume of 7,003,537. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $371.00. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm 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 0.96. The company has a 50-day simple moving average of $344.98 and a 200-day simple moving average of $335.10.

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, topping analysts' consensus estimates of $2.68 by $0.08. The company 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 54.79% and a net margin of 54.27%. Visa's revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.51 earnings per share. As a group, analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were paid a $0.59 dividend. The ex-dividend date of this dividend 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 currently 23.72%.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the transaction, the general counsel now owns 11,925 shares of the company's stock, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $327.20, for a total value of $12,875,320.00. Following the sale, the insider now owns 26,413 shares of the company's stock, valued at $8,642,333.60. The trade was a 59.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,162 shares of company stock valued at $58,645,479. 0.13% of the stock is owned by corporate 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.