Principal Street Partners LLC Sells 2,609 Shares of Visa Inc. (NYSE:V)

Principal Street Partners LLC cut its holdings in Visa Inc. (NYSE:V - Free Report) by 34.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,950 shares of the credit-card processor's stock after selling 2,609 shares during the period. Principal Street Partners LLC's holdings in Visa were worth $1,564,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Visa during the fourth quarter worth $5,171,271,000. Vanguard Group Inc. grew its position in shares of Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock valued at $50,378,465,000 after buying an additional 7,079,706 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Visa in the fourth quarter valued at about $1,955,403,000. Proficio Capital Partners LLC raised its position in shares of Visa by 17,018.7% during the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor's stock worth $1,248,079,000 after acquiring an additional 3,926,049 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of 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 acquiring an additional 2,785,707 shares during the period. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 14,813 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was 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 owns 26,413 shares in the company, valued at $9,377,671.52. This represents a 35.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa 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 sale, the general counsel now directly owns 11,925 shares in the company, valued at $4,121,041.50. The trade was a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 121,948 shares of company stock worth $41,548,282 in the last quarter. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on V. BMO Capital Markets boosted their price objective on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. William Blair reiterated an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. StockNews.com upgraded Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Piper Sandler increased their price target on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Finally, Susquehanna reiterated a "positive" rating on shares of Visa in a research note on Friday, March 21st. Six investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Visa has an average rating of "Moderate Buy" and an average price target of $362.38.

Visa Stock Up 0.7%

Shares of NYSE V opened at $367.76 on Tuesday. The business has a 50-day simple moving average of $339.28 and a two-hundred day simple moving average of $330.43. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $369.15. The company has a market cap of $678.58 billion, a P/E ratio of 37.07, a P/E/G ratio of 2.33 and a beta of 0.96. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

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

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Tuesday, May 13th. Visa's 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.

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