Kimelman & Baird LLC Lowers Position in Visa Inc. (NYSE:V)

Key Points

• Kimelman & Baird LLC reduced its stake in Visa Inc. by 1.1% in Q1, holding 107,560 shares worth approximately $37.7 million, making it the firm's 13th largest investment.
• Visa reported earnings of $2.98 EPS for the last quarter, surpassing estimates, with revenue of $10.17 billion, marking a 14.3% increase year-over-year.
• Several analysts have given Visa a consensus rating of "Moderate Buy", with a target price averaging $380.84, and 23 analysts assigning a buy rating.

Kimelman & Baird LLC trimmed its position in shares of Visa Inc. (NYSE:V - Free Report) by 1.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,560 shares of the credit-card processor's stock after selling 1,231 shares during the quarter. Visa accounts for approximately 3.2% of Kimelman & Baird LLC's investment portfolio, making the stock its 13th biggest position. Kimelman & Baird LLC's holdings in Visa were worth $37,695,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. von Borstel & Associates Inc. purchased a new position in Visa during the 1st quarter valued at about $27,000. Measured Risk Portfolios Inc. purchased a new position in shares of Visa in the 4th quarter valued at about $47,000. O Brien Wealth Partners LLC purchased a new position in shares of Visa in the 1st quarter valued at about $54,000. Global X Japan Co. Ltd. purchased a new position in shares of Visa in the 1st quarter valued at about $56,000. Finally, Cedar Mountain Advisors LLC boosted its stake in shares of Visa by 28.5% in the 1st quarter. Cedar Mountain Advisors LLC now owns 167 shares of the credit-card processor's stock valued at $59,000 after buying an additional 37 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on V shares. Jefferies Financial Group lifted their price objective on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Piper Sandler raised their target price on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group initiated coverage on Visa in a research report on Monday, June 2nd. They set a "neutral" rating on the stock. Finally, Oppenheimer raised their target price on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. 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 data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $380.84.

Visa Trading Up 0.9%

Visa stock opened at $345.53 on Friday. The stock has a market cap of $633.27 billion, a PE ratio of 33.74, a P/E/G ratio of 2.28 and a beta of 0.94. The stock has a 50-day moving average price of $350.69 and a 200 day moving average price of $347.27. Visa Inc. has a 52 week low of $262.84 and a 52 week high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%. The business's quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.42 earnings per share. Equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction dated 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 value of $17,099,180.00. Following the sale, the insider owned 26,413 shares of the company's stock, valued at $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,100 shares of company stock valued at $27,643,224 over the last quarter. Insiders own 0.13% of the company's stock.

Visa 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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