Olstein Capital Management L.P. Sells 3,500 Shares of Visa Inc. (NYSE:V)

Olstein Capital Management L.P. reduced its stake in shares of Visa Inc. (NYSE:V - Free Report) by 33.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,000 shares of the credit-card processor's stock after selling 3,500 shares during the quarter. Olstein Capital Management L.P.'s holdings in Visa were worth $2,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hirtle Callaghan & Co LLC lifted its stake in shares of Visa by 1.3% in 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 last quarter. FWL Investment Management LLC raised its holdings in Visa by 0.5% during the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after buying an additional 29 shares in the last quarter. Elevation Wealth Partners LLC lifted its position in shares of Visa by 3.3% in the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor's stock worth $297,000 after buying an additional 30 shares during the last quarter. Warther Private Wealth LLC boosted its stake in shares of Visa by 1.0% during the 4th quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor's stock worth $928,000 after acquiring an additional 30 shares in the last quarter. Finally, Valmark Advisers Inc. increased its holdings in shares of Visa by 0.4% during the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor's stock valued at $2,292,000 after acquiring an additional 30 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Visa Trading Down 0.6%

NYSE V traded down $2.26 during trading hours on Thursday, hitting $371.05. 2,544,744 shares of the company's stock were exchanged, compared to its average volume of 6,989,612. The firm has a market cap of $684.65 billion, a price-to-earnings ratio of 37.40, a PEG ratio of 2.33 and a beta of 0.94. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The stock has a 50-day simple moving average of $347.68 and a 200 day simple moving average of $336.77.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. Visa's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the business earned $2.51 EPS. On average, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio is currently 23.72%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $362.77, for a total transaction of $3,127,077.40. Following the transaction, the chief executive officer now directly owns 537 shares of the company's stock, valued at approximately $194,807.49. The trade was a 94.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was 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 now directly owns 26,413 shares of the company's stock, valued at $9,772,810. This represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 168,162 shares of company stock valued at $58,645,479 over the last ninety days. 0.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on V. Susquehanna reissued a "positive" rating on shares of Visa in a research report on Friday, March 21st. BMO Capital Markets raised their price target on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Citigroup began coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating for the company. Macquarie decreased their target price on Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Finally, Piper Sandler boosted their price target on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Five 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 company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $372.80.

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.