Private Wealth Partners LLC cut its holdings in Visa Inc. (NYSE:V - Free Report) by 6.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 159,157 shares of the credit-card processor's stock after selling 10,632 shares during the period. Visa comprises 4.6% of Private Wealth Partners LLC's holdings, making the stock its 4th largest holding. Private Wealth Partners LLC's holdings in Visa were worth $55,778,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Hirtle Callaghan & Co LLC boosted its position in Visa by 1.3% during the 4th quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock worth $724,000 after purchasing an additional 29 shares during the period. FWL Investment Management LLC grew its stake in shares of 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 acquiring an additional 29 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. grew its stake in shares of Visa by 0.4% during the fourth 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 in the last quarter. Capstone Financial Advisors Inc. grew its stake in shares of Visa by 3.6% during the fourth 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 in the last quarter. Finally, Headinvest LLC grew its stake in shares of Visa by 0.8% during the fourth 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 in the last quarter. 82.15% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several analysts have recently weighed in on the company. Barclays restated an "overweight" rating on shares of Visa in a research note on Friday, June 13th. Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. BMO Capital Markets raised 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. Macquarie lowered their target price on Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, Jefferies Financial Group raised their target price on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Five equities research 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $372.80.
Check Out Our Latest Research Report on V
Visa Stock Performance
Shares of NYSE V opened at $338.04 on Friday. 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 stock has a 50 day simple moving average of $351.78 and a 200-day simple moving average of $338.54. The company has a market cap of $623.73 billion, a PE ratio of 33.97, a P/E/G ratio of 2.29 and a beta of 0.94. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The business's revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.51 earnings per share. On average, equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.
Visa Announces Dividend
The firm also recently disclosed 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 annualized dividend and a dividend yield of 0.70%. Visa's dividend payout ratio is presently 23.72%.
Insider Transactions at Visa
In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company'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 value of $2,978,899.60. Following the completion of the sale, the chief executive officer now directly owns 537 shares in the company, valued at $185,576.46. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company'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 value of $889,868.50. Following the completion of the sale, the general counsel now owns 11,925 shares of the company's stock, valued at $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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.
Visa Company Profile
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Free Report)
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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