Financial Counselors Inc. trimmed its stake in shares of Visa Inc. (NYSE:V - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 223,688 shares of the credit-card processor's stock after selling 9,484 shares during the period. Visa comprises 1.2% of Financial Counselors Inc.'s holdings, making the stock its 13th largest position. Financial Counselors Inc.'s holdings in Visa were worth $78,394,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hirtle Callaghan & Co LLC boosted its stake in Visa by 1.3% during the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock valued at $724,000 after buying an additional 29 shares during the period. FWL Investment Management LLC grew its position in Visa by 0.5% during the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after acquiring an additional 29 shares during the last quarter. Capstone Financial Advisors Inc. grew its position in Visa by 3.6% during the fourth quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock valued at $276,000 after acquiring an additional 30 shares during the last quarter. Headinvest LLC grew its position in Visa by 0.8% during the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock valued at $1,265,000 after acquiring an additional 30 shares during the last quarter. Finally, Kennebec Savings Bank grew its holdings in shares of Visa by 0.9% in the first quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock worth $1,182,000 after purchasing an additional 30 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Visa
In other news, CEO Ryan Mcinerney sold 8,630 shares of the company's 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 sale, the chief executive officer directly owned 537 shares of the company's stock, 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 at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction that occurred 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 sale, the general counsel directly owned 11,925 shares in the company, valued at $4,121,041.50. This trade 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 valued at $36,771,200 in the last ninety days. Corporate insiders own 0.13% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on V. UBS Group raised their target price on shares of Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Jefferies Financial Group boosted their target price on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Evercore ISI started coverage on Visa in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price target for the company. Macquarie lowered their price target on Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Finally, Mizuho raised Visa from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $372.84.
Get Our Latest Stock Analysis on V
Visa Stock Performance
Shares of NYSE:V traded down $2.21 during mid-day trading on Tuesday, reaching $354.43. 6,964,583 shares of the company traded hands, compared to its average volume of 6,694,419. The company's 50 day moving average price is $356.17 and its 200-day moving average price is $341.92. The firm has a market cap of $653.98 billion, a PE ratio of 35.62, a PEG ratio of 2.43 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51.
Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion during 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 firm's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.51 EPS. On average, equities analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. Visa's dividend payout ratio (DPR) is 23.72%.
Visa Company Profile
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Free Report)
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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