Jag Capital Management LLC Decreases Stock Position in Visa Inc. (NYSE:V)

Jag Capital Management LLC reduced its position in Visa Inc. (NYSE:V - Free Report) by 6.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,329 shares of the credit-card processor's stock after selling 954 shares during the quarter. Jag Capital Management LLC's holdings in Visa were worth $5,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Sovereign Investment Advisors LLC purchased a new position in shares of Visa in the fourth quarter valued at $424,000. Brighton Jones LLC grew its position in shares of Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after purchasing an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC grew its position in shares of Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after purchasing an additional 4,817 shares in the last quarter. Leverage Partners Absolute Return Fund SPC purchased a new position in shares of Visa in the fourth quarter valued at $204,000. Finally, SOA Wealth Advisors LLC. grew its position in shares of Visa by 7.0% in the fourth quarter. SOA Wealth Advisors LLC. now owns 2,855 shares of the credit-card processor's stock valued at $902,000 after purchasing an additional 187 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $362.77, for a total transaction of $3,127,077.40. Following the transaction, the chief executive officer now owns 537 shares in the company, valued at approximately $194,807.49. This represents a 94.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the transaction, the insider now owns 26,413 shares in the company, valued at $9,904,875. This trade represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,098 shares of company stock valued at $36,738,526 in the last 90 days. Insiders own 0.13% of the company's stock.

Visa Trading Up 0.9%

NYSE V opened at $349.13 on Friday. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average of $353.30 and a 200-day moving average of $340.01. The firm has a market cap of $644.20 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 2.34 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last released its 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. The company had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. Visa's revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.51 EPS. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Tuesday, May 13th. Visa's payout ratio is 23.72%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Piper Sandler lifted their price target on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group initiated coverage on Visa in a research note on Monday, June 2nd. They set a "neutral" rating for the company. BMO Capital Markets lifted their price objective on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. William Blair reissued an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Finally, Susquehanna reissued a "positive" rating on shares of Visa in a research note on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $372.80.

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.

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