Fishman Jay A Ltd. MI Cuts Holdings in Visa Inc. (NYSE:V)

Fishman Jay A Ltd. MI lessened its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 5.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,429 shares of the credit-card processor's stock after selling 5,940 shares during the period. Visa accounts for about 4.1% of Fishman Jay A Ltd. MI's investment portfolio, making the stock its 8th biggest holding. Fishman Jay A Ltd. MI's holdings in Visa were worth $37,299,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in V. Norges Bank bought a new stake in shares of Visa during the fourth quarter valued at approximately $5,171,271,000. GAMMA Investing LLC raised its holdings in shares of Visa by 38,416.3% during 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. Vanguard Group Inc. raised its holdings in shares of Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock valued at $50,378,465,000 after buying an additional 7,079,706 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Visa during the fourth quarter valued at approximately $1,955,403,000. Finally, Proficio Capital Partners LLC raised its holdings in shares of Visa by 17,018.7% during the fourth 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 buying an additional 3,926,049 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Visa Trading Down 0.7%

NYSE V opened at $338.04 on Friday. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $375.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market cap of $623.73 billion, a price-to-earnings ratio of 33.97, a PEG ratio of 2.28 and a beta of 0.94. The firm's 50 day moving average price is $351.78 and its two-hundred day moving average price is $338.74.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data 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. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. During the same period in the previous year, the company posted $2.51 EPS. The company's quarterly revenue was up 9.3% compared to the same quarter last year. Equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the transaction, the chief executive officer now directly owns 537 shares in the company, valued at $185,576.46. The trade was a 94.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 14,813 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $355.04, for a total transaction of $5,259,207.52. Following the transaction, the insider now owns 26,413 shares in the company, valued at approximately $9,377,671.52. This represents a 35.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,098 shares of company stock worth $36,738,526. Corporate insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on V shares. Citigroup started coverage on Visa in a report on Monday, June 2nd. They set a "buy" rating on the stock. Truist Financial started coverage on Visa in a report on Monday, June 2nd. They set a "buy" rating and a $400.00 target price on the stock. William Blair reissued an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. 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 report on Thursday, June 5th. Finally, Jefferies Financial Group boosted their target price on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Visa has an average rating of "Moderate Buy" and an average target price of $372.80.

Visa Company 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.

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