Mirabaud & Cie SA Sells 1,630 Shares of Visa Inc. (NYSE:V)

Key Points

• Mirabaud & Cie SA has reduced its holdings in Visa Inc. by 5.2%, now owning 29,719 shares valued at approximately $10.4 million.
• CEO Ryan Mcinerney sold 8,630 shares of Visa stock, representing a 94.14% decrease in his ownership, while corporate insiders sold a total of 89,913 shares valued at over $32.9 million in the last three months.
• Visa's stock has seen recent price target upgrades, with Macquarie raising it from $380 to $425, reflecting ongoing positive analyst sentiment with a current consensus rating of "Moderate Buy."

Mirabaud & Cie SA reduced its position in shares of Visa Inc. (NYSE:V - Free Report) by 5.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,719 shares of the credit-card processor's stock after selling 1,630 shares during the period. Visa accounts for about 3.6% of Mirabaud & Cie SA's investment portfolio, making the stock its 9th largest position. Mirabaud & Cie SA's holdings in Visa were worth $10,415,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of V. Endeavor Private Wealth Inc. lifted its position in Visa by 60.7% during the first quarter. Endeavor Private Wealth Inc. now owns 1,382 shares of the credit-card processor's stock valued at $484,000 after buying an additional 522 shares in the last quarter. Fiduciary Wealth Partners LLC acquired a new position in Visa during the first quarter valued at approximately $85,000. IFG Advisory LLC lifted its position in Visa by 3.4% during the first quarter. IFG Advisory LLC now owns 4,679 shares of the credit-card processor's stock valued at $1,640,000 after buying an additional 156 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. lifted its position in Visa by 2.1% during the first quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,433 shares of the credit-card processor's stock valued at $2,605,000 after buying an additional 150 shares in the last quarter. Finally, Pettyjohn Wood & White Inc. lifted its position in Visa by 3.9% during the first quarter. Pettyjohn Wood & White Inc. now owns 6,646 shares of the credit-card processor's stock valued at $2,329,000 after buying an additional 248 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the transaction, the insider directly owned 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 disclosure for this sale can be found here. In the last three months, insiders have sold 89,913 shares of company stock valued at $32,902,432. Corporate insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

V has been the topic of a number of recent research reports. Macquarie lifted their price target on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research report on Thursday. BMO Capital Markets lifted their price objective on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a research note on Wednesday. Piper Sandler lifted their price objective on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Finally, Citigroup began coverage on shares of 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 assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Visa presently has a consensus rating of "Moderate Buy" and an average price target of $380.84.

Visa Stock Performance

Visa stock opened at $338.81 on Friday. The company has a market cap of $625.16 billion, a PE ratio of 33.09, a P/E/G ratio of 2.30 and a beta of 0.94. The company has a fifty day moving average price of $355.06 and a two-hundred day moving average price of $346.34. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.08. Visa Inc. has a 12 month low of $254.51 and a 12 month high of $375.51.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter in the previous year, the company posted $2.42 earnings per share. The firm's revenue was up 14.3% on a year-over-year basis. Research analysts expect 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 will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's payout ratio is 23.05%.

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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