Visa Inc. (NYSE:V) Shares Sold by Financial Management Network Inc.

Key Points

• Financial Management Network Inc. reduced its stake in Visa Inc. by 4.2%, owning 18,469 shares after selling 800 shares in the first quarter; Visa makes up 1.3% of their investment portfolio.
• Multiple institutional investors increased their holdings in Visa during the fourth quarter, with Brighton Jones LLC growing its stake by 50.1% to own 20,635 shares valued at $6,522,000.
• Visa's latest earnings report showed an earnings per share of $2.76, exceeding estimates and reflecting a 9.3% year-over-year revenue growth to $9.59 billion.

Financial Management Network Inc. cut its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 4.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,469 shares of the credit-card processor's stock after selling 800 shares during the period. Visa accounts for approximately 1.3% of Financial Management Network Inc.'s investment portfolio, making the stock its 18th biggest holding. Financial Management Network Inc.'s holdings in Visa were worth $6,473,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. von Borstel & Associates Inc. purchased a new stake in Visa in the first quarter valued at $27,000. Measured Risk Portfolios Inc. purchased a new stake in Visa in the fourth quarter valued at $47,000. Navigoe LLC purchased a new stake in Visa in the fourth quarter valued at $53,000. O Brien Wealth Partners LLC purchased a new stake in Visa in the first quarter valued at $54,000. Finally, Hurley Capital LLC purchased a new stake in Visa in the fourth quarter valued at $56,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the sale, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,772,810. The trade was a 63.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction 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 approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,913 shares of company stock valued at $32,902,432 in the last three months. 0.13% of the stock is currently owned by corporate insiders.

Visa Trading Down 0.7%

Shares of NYSE V traded down $2.50 during midday trading on Thursday, reaching $348.42. 4,468,097 shares of the stock were exchanged, compared to its average volume of 6,586,093. The company has a 50 day simple moving average of $355.61 and a 200 day simple moving average of $345.86. The stock has a market capitalization of $642.88 billion, a P/E ratio of 34.02, a PEG ratio of 2.37 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 twelve month low of $254.51 and a twelve month high of $375.51.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 59.03%. The firm's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the company posted $2.42 EPS. As a group, equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.68%. Visa's dividend payout ratio is presently 23.05%.

Analyst Ratings Changes

Several research firms have commented on V. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Oppenheimer upped their price target on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Citigroup assumed coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating on the stock. Macquarie decreased their price objective on shares of Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Finally, Barclays reiterated an "overweight" rating and issued a $408.00 price objective on shares of Visa in a research report on Thursday. Five investment 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's stock. Based on data from MarketBeat.com, Visa currently has a consensus rating of "Moderate Buy" and a consensus price target of $379.04.

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.