Janney Montgomery Scott LLC Sells 15,394 Shares of Visa Inc. (NYSE:V)

Janney Montgomery Scott LLC trimmed its position in shares of Visa Inc. (NYSE:V - Free Report) by 1.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 815,103 shares of the credit-card processor's stock after selling 15,394 shares during the quarter. Visa accounts for approximately 0.8% of Janney Montgomery Scott LLC's portfolio, making the stock its 17th largest holding. Janney Montgomery Scott LLC's holdings in Visa were worth $285,661,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Lakeridge Wealth Management LLC lifted its position in Visa by 5.7% during the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after purchasing an additional 81 shares during the last quarter. Blue Rock Wealth Management LLC purchased a new position in shares of Visa during the fourth quarter valued at about $306,000. Aptus Capital Advisors LLC grew its stake in Visa by 19.8% in the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock worth $57,727,000 after purchasing an additional 30,185 shares during the period. King Wealth Management Group boosted its position in shares of Visa by 9.0% in the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock worth $23,663,000 after purchasing an additional 6,172 shares in the last quarter. Finally, Eagle Strategies LLC lifted its stake in shares of Visa by 2.5% in the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock worth $811,000 after buying an additional 63 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the 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 sale, the insider now directly owns 26,413 shares of the company's stock, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total value of $3,020,792.80. Following the transaction, the chief executive officer now owns 537 shares of the company's stock, valued at $188,186.28. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 140,448 shares of company stock valued at $50,133,659. Company insiders own 0.13% of the company's stock.

Visa Stock Down 5.0%

V stock opened at $352.75 on Monday. The stock has a market capitalization of $650.87 billion, a PE ratio of 35.56, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average of $349.76 and a 200 day moving average of $337.77.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the previous year, the firm posted $2.51 earnings per share. The business's revenue for the quarter was up 9.3% compared to the same quarter last year. Sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. William Blair restated an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on shares of Visa in a research report on Monday, June 2nd. They set a "neutral" rating on the stock. Piper Sandler lifted their price target on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Finally, Citigroup began coverage on Visa in a research note on Monday, June 2nd. They set a "buy" rating on the stock. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Visa has a consensus 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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