MV Capital Management Inc. Sells 1,222 Shares of Visa Inc. (NYSE:V)

MV Capital Management Inc. lowered its holdings in Visa Inc. (NYSE:V - Free Report) by 7.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,859 shares of the credit-card processor's stock after selling 1,222 shares during the period. MV Capital Management Inc.'s holdings in Visa were worth $5,558,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in V. Vanguard Group Inc. boosted its holdings in shares of Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Visa by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock worth $12,729,901,000 after acquiring an additional 1,689,926 shares during the period. Capital International Investors boosted its holdings in shares of Visa by 3.8% during the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock worth $7,526,660,000 after acquiring an additional 866,596 shares during the period. Capital World Investors boosted its holdings in shares of Visa by 1.0% during the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock worth $7,356,614,000 after acquiring an additional 241,057 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Visa by 18.0% during the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock worth $5,771,116,000 after acquiring an additional 2,785,707 shares during the period. Institutional investors own 82.15% of the company's stock.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 39,350 shares of the firm's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $340.41, for a total value of $13,395,133.50. Following the transaction, the insider now owns 26,413 shares of the company's stock, valued at approximately $8,991,249.33. This trade represents a 59.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the transaction, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 140,448 shares of company stock worth $50,133,659. Company insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on V. The Goldman Sachs Group began coverage on Visa in a report on Monday, June 2nd. They set a "neutral" rating for the company. BMO Capital Markets lifted their price target on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Citigroup assumed coverage on shares of Visa in a research report on Monday, June 2nd. They issued a "buy" rating for the company. Finally, Piper Sandler lifted their price target on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. 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 stock. According to MarketBeat.com, Visa currently has a consensus rating of "Moderate Buy" and an average price target of $372.80.

Visa Trading Down 5.0%

NYSE V traded down $18.65 on Friday, reaching $352.75. The company had a trading volume of 14,176,249 shares, compared to its average volume of 7,017,457. The firm has a market cap of $650.87 billion, a price-to-earnings ratio of 35.56, a P/E/G ratio of 2.33 and a beta of 0.94. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The business has a 50 day moving average of $349.76 and a two-hundred day moving average of $337.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. 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 prior year, the business posted $2.51 earnings per share. Visa's quarterly revenue was up 9.3% on a year-over-year basis. Analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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

About Visa

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.