Fortitude Family Office LLC Sells 960 Shares of Visa Inc. (NYSE:V)

Fortitude Family Office LLC trimmed its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 37.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,627 shares of the credit-card processor's stock after selling 960 shares during the quarter. Fortitude Family Office LLC's holdings in Visa were worth $570,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of V. Hirtle Callaghan & Co LLC grew its holdings 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 purchasing an additional 29 shares during the period. FWL Investment Management LLC grew its holdings 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 purchasing an additional 29 shares during the period. Elevation Wealth Partners LLC boosted its holdings in shares of Visa by 3.3% in the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor's stock valued at $297,000 after buying an additional 30 shares during the period. Warther Private Wealth LLC boosted its holdings in shares of Visa by 1.0% in the fourth quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor's stock valued at $928,000 after buying an additional 30 shares during the period. Finally, Valmark Advisers Inc. boosted its holdings in shares of Visa by 0.4% in the fourth quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor's stock valued at $2,292,000 after buying an additional 30 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 value of $17,099,180.00. Following the completion of the sale, the insider now owns 26,413 shares in the company, valued at $9,772,810. The trade was a 63.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the completion of the sale, the chief executive officer now owns 537 shares of the company's stock, valued at $188,186.28. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,448 shares of company stock worth $50,133,659. Corporate insiders own 0.13% of the company's stock.

Visa Stock Performance

Shares of V stock traded down $18.65 on Friday, hitting $352.75. The company's stock had a trading volume of 14,176,249 shares, compared to its average volume of 7,017,457. The company has a market capitalization of $650.87 billion, a PE ratio of 35.56, a PEG ratio of 2.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The stock's 50 day moving average is $349.76 and its 200-day moving average is $337.61.

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, beating analysts' consensus estimates of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The company had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same period last year, the company posted $2.51 EPS. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. Equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa's payout ratio is currently 23.72%.

Analyst Upgrades and Downgrades

V has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Evercore ISI started coverage on shares of Visa in a report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 target price for the company. Susquehanna restated a "positive" rating on shares of Visa in a report on Friday, March 21st. Piper Sandler increased their target price on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group started coverage on shares of Visa in a report on Monday, June 2nd. They set a "neutral" rating for the company. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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.