Meriwether Wealth & Planning LLC trimmed its holdings in Visa Inc. (NYSE:V - Free Report) by 18.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 3,835 shares of the credit-card processor's stock after selling 854 shares during the quarter. Visa comprises approximately 0.9% of Meriwether Wealth & Planning LLC's portfolio, making the stock its 23rd biggest position. Meriwether Wealth & Planning LLC's holdings in Visa were worth $1,344,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of V. Hirtle Callaghan & Co LLC raised its stake in Visa by 1.3% during the 4th quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock valued at $724,000 after purchasing an additional 29 shares during the period. FWL Investment Management LLC increased its stake in Visa by 0.5% in the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock worth $2,005,000 after acquiring an additional 29 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. increased its stake in Visa by 0.4% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor's stock worth $2,302,000 after acquiring an additional 30 shares during the last quarter. Capstone Financial Advisors Inc. increased its stake in Visa by 3.6% in the 4th quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock worth $276,000 after acquiring an additional 30 shares during the last quarter. Finally, Headinvest LLC increased its stake in Visa by 0.8% in the 4th quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock worth $1,265,000 after acquiring an additional 30 shares during the last quarter. 82.15% of the stock is currently owned by 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 on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the sale, the chief executive officer now directly owns 537 shares in the company, valued at approximately $185,576.46. This represents a 94.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the sale, the general counsel now owns 11,925 shares of the company's stock, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,098 shares of company stock valued at $36,738,526 in the last quarter. 0.13% of the stock is owned by insiders.
Analysts Set New Price Targets
V has been the topic of a number of research reports. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Citigroup initiated coverage on Visa in a research note on Monday, June 2nd. They issued a "buy" rating on the stock. Macquarie reduced their price objective on Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. The Goldman Sachs Group initiated coverage on Visa in a research note on Monday, June 2nd. They issued a "neutral" rating on the stock. Finally, Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $372.80.
Check Out Our Latest Stock Analysis on Visa
Visa Stock Performance
Shares of Visa stock opened at $338.04 on Friday. The stock's fifty day moving average is $351.78 and its two-hundred day moving average is $338.54. The company has a market capitalization of $623.73 billion, a PE ratio of 33.97, a price-to-earnings-growth ratio of 2.29 and a beta of 0.94. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51.
Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. Visa's quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.51 EPS. As a group, analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is presently 23.72%.
Visa Profile
(
Free Report)
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.
Further Reading
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