Joseph Group Capital Management Sells 1,178 Shares of Visa Inc. (NYSE:V)

Joseph Group Capital Management lessened its position in shares of Visa Inc. (NYSE:V - Free Report) by 7.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,666 shares of the credit-card processor's stock after selling 1,178 shares during the quarter. Visa comprises about 2.0% of Joseph Group Capital Management's investment portfolio, making the stock its 10th largest position. Joseph Group Capital Management's holdings in Visa were worth $5,140,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in V. Hirtle Callaghan & Co LLC grew its holdings in shares of Visa by 1.3% during the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock worth $724,000 after buying an additional 29 shares in the last quarter. FWL Investment Management LLC grew its stake in Visa by 0.5% in 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 in the last quarter. Capstone Financial Advisors Inc. grew its stake in Visa by 3.6% in the fourth quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock valued at $276,000 after purchasing an additional 30 shares in the last quarter. Headinvest LLC grew its stake in Visa by 0.8% in the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock valued at $1,265,000 after purchasing an additional 30 shares in the last quarter. Finally, Kennebec Savings Bank grew its stake in Visa by 0.9% in the first quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock valued at $1,182,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the transaction, the general counsel owned 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider owned 26,413 shares in the company, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,108 shares of company stock worth $36,771,200 in the last 90 days. Company insiders own 0.13% of the company's stock.

Visa Stock Performance

NYSE:V opened at $347.71 on Friday. The stock has a market cap of $641.58 billion, a P/E ratio of 34.95, a PEG ratio of 2.41 and a beta of 0.92. The stock has a 50 day simple moving average of $356.93 and a 200 day simple moving average of $342.56. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51.

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 analysts' consensus estimates of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter last year, the company earned $2.51 EPS. The company's revenue was up 9.3% on a year-over-year basis. Research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.68%. Visa's dividend payout ratio (DPR) is presently 23.72%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and raised their price target for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Barclays restated an "overweight" rating on shares of Visa in a research note on Friday, June 13th. Jefferies Financial Group raised their price target on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. BMO Capital Markets raised their price objective on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Finally, Oppenheimer raised their price objective on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $372.84.

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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