Osborne Partners Capital Management LLC Cuts Position in Visa Inc. (NYSE:V)

Osborne Partners Capital Management LLC cut its position in Visa Inc. (NYSE:V - Free Report) by 2.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,426 shares of the credit-card processor's stock after selling 961 shares during the quarter. Visa accounts for 1.0% of Osborne Partners Capital Management LLC's holdings, making the stock its 29th largest holding. Osborne Partners Capital Management LLC's holdings in Visa were worth $16,621,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Hirtle Callaghan & Co LLC boosted its stake in Visa by 1.3% in the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock valued at $724,000 after acquiring an additional 29 shares in the last quarter. FWL Investment Management LLC increased its holdings in shares of Visa by 0.5% in the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after acquiring an additional 29 shares during the period. Strategic Family Wealth Counselors L.L.C. increased its holdings in shares of Visa by 0.4% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor's stock valued at $2,302,000 after acquiring an additional 30 shares during the period. Capstone Financial Advisors Inc. increased its holdings in shares of Visa by 3.6% in the 4th quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock valued at $276,000 after acquiring an additional 30 shares during the period. Finally, Headinvest LLC increased its holdings in shares of Visa by 0.8% in the 4th quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock valued at $1,265,000 after acquiring an additional 30 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

V stock opened at $338.04 on Friday. The firm has a 50 day moving average of $351.78 and a 200-day moving average of $338.54. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. 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 company has a market cap of $623.73 billion, a price-to-earnings ratio of 33.97, a PEG ratio of 2.29 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period last year, the firm earned $2.51 EPS. The company's revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.70%. Visa's payout ratio is 23.72%.

Insider Activity

In other news, insider Paul D. Fabara sold 14,813 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $355.04, for a total transaction of $5,259,207.52. Following the completion of the transaction, the insider now directly owns 26,413 shares of the company's stock, valued at $9,377,671.52. This trade represents a 35.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm's 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 $2,978,899.60. Following the transaction, the chief executive officer now directly owns 537 shares of the company's stock, valued at approximately $185,576.46. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 101,098 shares of company stock worth $36,738,526. Company insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on V. Citigroup began coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating on the stock. BMO Capital Markets increased their target price on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Susquehanna reiterated a "positive" rating on shares of Visa in a research note on Friday, March 21st. Truist Financial began coverage on shares of Visa in a research note on Monday, June 2nd. They set a "buy" rating and a $400.00 target price for the company. Finally, Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $372.80.

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.

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