New Age Alpha Advisors LLC Sells 29,566 Shares of Visa Inc. (NYSE:V)

Key Points

• New Age Alpha Advisors LLC decreased its ownership in Visa Inc. by 89.1%, reducing its stake to 3,604 shares after selling 29,566 shares in the first quarter.
• Multiple hedge funds have adjusted their positions in Visa, with W.H. Cornerstone Investments Inc. increasing its stake by 54.6% during the same quarter.
• Visa recently reported $10.17 billion in revenue for the last quarter, surpassing analysts' estimates, along with an EPS of $2.98, exceeding predictions of $2.85.

New Age Alpha Advisors LLC reduced its stake in shares of Visa Inc. (NYSE:V - Free Report) by 89.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 3,604 shares of the credit-card processor's stock after selling 29,566 shares during the period. New Age Alpha Advisors LLC's holdings in Visa were worth $1,263,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Thoroughbred Financial Services LLC increased its holdings in Visa by 0.7% during the 1st quarter. Thoroughbred Financial Services LLC now owns 39,575 shares of the credit-card processor's stock worth $13,869,000 after purchasing an additional 280 shares in the last quarter. Wills Financial Group LLC purchased a new position in shares of Visa in the 1st quarter worth approximately $3,937,000. W.H. Cornerstone Investments Inc. boosted its stake in shares of Visa by 54.6% in the 1st quarter. W.H. Cornerstone Investments Inc. now owns 5,965 shares of the credit-card processor's stock worth $2,090,000 after buying an additional 2,106 shares during the last quarter. Cooper Haims Advisors LLC boosted its stake in shares of Visa by 10.5% in the 1st quarter. Cooper Haims Advisors LLC now owns 1,516 shares of the credit-card processor's stock worth $531,000 after buying an additional 144 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its stake in shares of Visa by 0.5% in the 1st quarter. Westfield Capital Management Co. LP now owns 904,397 shares of the credit-card processor's stock worth $316,955,000 after buying an additional 4,745 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Morgan Stanley boosted their target price on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Macquarie boosted their target price on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a research note on Thursday, July 17th. They issued a "buy" rating and a $410.00 target price on the stock. Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Finally, Oppenheimer boosted their target price on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $380.84.

Visa Trading Down 2.3%

Shares of V stock opened at $331.98 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 52-week low of $257.92 and a 52-week high of $375.51. The company has a market capitalization of $612.55 billion, a PE ratio of 32.42, a price-to-earnings-growth ratio of 2.27 and a beta of 0.94. The business's fifty day moving average is $353.36 and its 200 day moving average is $346.87.

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

Visa Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa's dividend payout ratio is currently 23.05%.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider directly owned 26,413 shares in the company, valued at approximately $9,772,810. This represents a 63.63% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 75,100 shares of company stock worth $27,643,224. 0.13% of the stock is owned by insiders.

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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