Next Capital Management LLC Trims Holdings in Visa Inc. (NYSE:V)

Next Capital Management LLC cut its stake in shares of Visa Inc. (NYSE:V - Free Report) by 62.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 683 shares of the credit-card processor's stock after selling 1,115 shares during the quarter. Next Capital Management LLC's holdings in Visa were worth $240,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC boosted its position in Visa by 4.4% in 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 purchasing an additional 1,689,926 shares during the last quarter. Capital International Investors boosted its position in Visa by 3.8% in 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 purchasing an additional 866,596 shares during the last quarter. Capital World Investors boosted its position in Visa by 1.0% in 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 purchasing an additional 241,057 shares during the last quarter. Northern Trust Corp boosted its position in Visa by 18.0% in 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 purchasing an additional 2,785,707 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Visa during the 4th quarter valued at about $5,171,271,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,108 shares of company stock worth $36,771,200. 0.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on V. BMO Capital Markets lifted their target price on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Barclays reissued an "overweight" rating on shares of Visa in a research note on Friday, June 13th. Evercore ISI began coverage on Visa in a research note on Wednesday, April 9th. They set an "in-line" rating and a $330.00 target price on the stock. William Blair reissued an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Finally, Oppenheimer lifted their target price on Visa from $390.00 to $391.00 and gave the company 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 given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $375.52.

Visa Stock Performance

Shares of V stock traded up $2.96 during mid-day trading on Friday, reaching $356.93. The stock had a trading volume of 3,915,274 shares, compared to its average volume of 5,404,370. The business's fifty day moving average is $356.30 and its 200-day moving average is $345.00. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm has a market cap of $658.60 billion, a price-to-earnings ratio of 35.87, a PEG ratio of 2.39 and a beta of 0.92. Visa Inc. has a 1-year low of $254.51 and a 1-year high of $375.51.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. Visa's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the company earned $2.51 earnings per share. On average, research analysts forecast that Visa Inc. will post 11.3 earnings per share 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 given 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 0.66%. Visa's dividend payout ratio is currently 23.72%.

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.