Private Wealth Partners LLC Sells 10,632 Shares of Visa Inc. (NYSE:V)

Private Wealth Partners LLC trimmed its position in shares of Visa Inc. (NYSE:V - Free Report) by 6.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 159,157 shares of the credit-card processor's stock after selling 10,632 shares during the quarter. Visa accounts for approximately 4.6% of Private Wealth Partners LLC's investment portfolio, making the stock its 4th largest position. Private Wealth Partners LLC's holdings in Visa were worth $55,778,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in Visa during the 4th quarter valued at $5,171,271,000. GAMMA Investing LLC lifted its position in shares of Visa by 38,416.3% during the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock worth $5,173,271,000 after purchasing an additional 14,723,050 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock valued at $50,378,465,000 after purchasing an additional 7,079,706 shares during the period. Raymond James Financial Inc. bought a new position in shares of Visa in the fourth quarter worth about $1,955,403,000. Finally, Proficio Capital Partners LLC increased its stake in Visa by 17,018.7% in the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor's stock worth $1,248,079,000 after buying an additional 3,926,049 shares during the period. Institutional investors own 82.15% of the company's stock.

Visa Price Performance

Shares of Visa stock traded up $7.90 on Tuesday, hitting $351.65. The company's stock had a trading volume of 10,168,661 shares, compared to its average volume of 7,056,915. The company has a market capitalization of $648.84 billion, a price-to-earnings ratio of 35.34, a price-to-earnings-growth ratio of 2.28 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 debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a fifty day moving average price of $351.95 and a 200-day moving average price of $339.18.

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

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.67%. The ex-dividend date was Tuesday, May 13th. Visa's payout ratio is 23.72%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Citigroup assumed coverage on shares of Visa in a research report on Monday, June 2nd. They issued a "buy" rating for the company. The Goldman Sachs Group assumed coverage on Visa in a research note on Monday, June 2nd. They issued a "neutral" rating on the stock. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Truist Financial assumed coverage on Visa in a report on Monday, June 2nd. They issued a "buy" rating and a $400.00 price objective for the company. 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's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $372.80.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total value of $3,020,792.80. Following the completion of the transaction, the chief executive officer now directly owns 537 shares of the company's stock, valued at approximately $188,186.28. This represents a 94.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction 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 sale, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,098 shares of company stock worth $36,738,526 over the last 90 days. 0.13% of the stock is currently owned by company insiders.

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.