First Foundation Advisors Sells 2,561 Shares of Visa Inc. (NYSE:V)

Key Points

• First Foundation Advisors reduced its holdings in Visa Inc. by 14.8% during the first quarter, selling 2,561 shares, leaving them with 14,777 shares valued at approximately $5.18 million.
• Visa recently reported an earnings per share (EPS) of $2.76 for the latest quarter, surpassing analyst expectations of $2.68, with total revenue reaching $9.59 billion.
• The company also declared a quarterly dividend of $0.59, translating to an annualized dividend of $2.36 with a yield of 0.66%.

First Foundation Advisors decreased its stake in shares of Visa Inc. (NYSE:V - Free Report) by 14.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,777 shares of the credit-card processor's stock after selling 2,561 shares during the period. First Foundation Advisors' holdings in Visa were worth $5,179,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of V. Geode Capital Management LLC lifted its stake in shares of Visa by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock worth $12,729,901,000 after purchasing an additional 1,689,926 shares in the last quarter. Capital International Investors lifted its stake in shares of Visa by 3.8% in the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock worth $7,526,660,000 after acquiring an additional 866,596 shares in the last quarter. Capital World Investors increased its holdings in Visa by 1.0% in the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock valued at $7,356,614,000 after buying an additional 241,057 shares during the last quarter. Northern Trust Corp increased its holdings in Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after buying an additional 2,785,707 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Visa by 38,416.3% in the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after buying an additional 14,723,050 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Wall Street Analysts Forecast Growth

V has been the subject of several research analyst reports. BMO Capital Markets boosted their price objective on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Morgan Stanley upped their target price on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a report on Wednesday. Truist Financial lowered their target price on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Citigroup assumed coverage on Visa in a report on Monday, June 2nd. They issued a "buy" rating for the company. Finally, The Goldman Sachs Group began coverage on Visa in a research report on Monday, June 2nd. They set a "neutral" rating for the company. Five 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 MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $380.84.

Visa Stock Performance

V stock traded down $6.66 during trading on Friday, reaching $338.81. 8,473,191 shares of the stock were exchanged, compared to its average volume of 6,623,464. The stock has a 50 day simple moving average of $355.36 and a 200-day simple moving average of $346.13. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $625.16 billion, a P/E ratio of 33.09, a price-to-earnings-growth ratio of 2.36 and a beta of 0.92. 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 released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%. The company's quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.42 earnings per share. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's dividend payout ratio is currently 23.05%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of the company's 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 owned 26,413 shares of the company's stock, valued at approximately $9,772,810. This represents a 63.63% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,913 shares of company stock worth $32,902,432. Company insiders own 0.13% of the company's stock.

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.