Hirtle Callaghan & Co LLC Sells 1,085 Shares of Visa Inc. (NYSE:V)

Key Points

• Hirtle Callaghan & Co LLC reduced its stake in Visa Inc. by 47.4%, selling 1,085 shares and now holding 1,206 shares valued at approximately $423,000.
• Insider trading was notable, with CEO Ryan Mcinerney selling 8,630 shares for approximately $3 million, representing a 94.14% decrease in his ownership.
• Analysts maintain a generally positive outlook for Visa, with numerous buy ratings and a price target increase, suggesting an average target of around $380.84.

Hirtle Callaghan & Co LLC lowered its stake in shares of Visa Inc. (NYSE:V - Free Report) by 47.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,206 shares of the credit-card processor's stock after selling 1,085 shares during the quarter. Hirtle Callaghan & Co LLC's holdings in Visa were worth $423,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in V. Brighton Jones LLC boosted its holdings in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after purchasing an additional 6,883 shares during the period. Revolve Wealth Partners LLC raised its stake in Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after acquiring an additional 4,817 shares during the period. Scotia Capital Inc. lifted its holdings in Visa by 5.2% in the fourth quarter. Scotia Capital Inc. now owns 1,531,579 shares of the credit-card processor's stock worth $484,079,000 after acquiring an additional 75,355 shares during the last quarter. Redwood Park Advisors LLC acquired a new position in Visa in the fourth quarter valued at approximately $122,000. Finally, Legacy Financial Advisors Inc. grew its holdings in shares of Visa by 2.2% during the fourth quarter. Legacy Financial Advisors Inc. now owns 13,476 shares of the credit-card processor's stock valued at $4,259,000 after purchasing an additional 287 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Stock Performance

Shares of V traded up $4.77 during mid-day trading on Friday, hitting $336.86. The company's stock had a trading volume of 6,071,880 shares, compared to its average volume of 6,371,769. Visa Inc. has a one year low of $258.74 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $621.56 billion, a PE ratio of 32.90, a price-to-earnings-growth ratio of 2.25 and a beta of 0.94. The stock's 50-day moving average is $352.79 and its two-hundred day moving average is $347.13.

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, beating the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%. Visa's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.42 earnings per share. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, August 12th. Visa's dividend payout ratio (DPR) is 23.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Jefferies Financial Group upped their price target on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. William Blair reiterated an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Citigroup started coverage on shares of Visa in a research note on Monday, June 2nd. They set a "buy" rating on the stock. UBS Group reiterated a "buy" rating and issued a $415.00 target price (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Finally, 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, July 30th. Five equities 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $380.84.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the 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 completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul D. Fabara sold 46,214 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was 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 in the company, valued at approximately $9,772,810. The trade was a 63.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,100 shares of company stock valued at $27,643,224 in the last 90 days. 0.13% of the stock is owned by corporate insiders.

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.