Visa Inc. (NYSE:V) Shares Sold by Profit Investment Management LLC

Profit Investment Management LLC reduced its stake in Visa Inc. (NYSE:V - Free Report) by 16.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,200 shares of the credit-card processor's stock after selling 830 shares during the period. Profit Investment Management LLC's holdings in Visa were worth $1,472,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in V. 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 during the last quarter. FWL Investment Management LLC raised its position in shares of Visa by 0.5% in 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 purchasing an additional 29 shares during the period. Elevation Wealth Partners LLC raised 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 valued at $297,000 after purchasing an additional 30 shares during the period. Warther Private Wealth LLC raised its position in shares of Visa by 1.0% in the fourth quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor's stock valued at $928,000 after purchasing an additional 30 shares during the period. Finally, Valmark Advisers Inc. raised its position in shares of Visa by 0.4% in the fourth quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor's stock valued at $2,292,000 after purchasing an additional 30 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on V shares. Macquarie lowered their price target on shares of Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Susquehanna reaffirmed a "positive" rating on shares of Visa in a report on Friday, March 21st. Evercore ISI assumed coverage on shares of Visa in a report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 target price on the stock. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and set a $425.00 target price on the stock in a report on Thursday. Finally, Jefferies Financial Group upped their target price on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report 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 given a strong buy rating to the company. According to data from MarketBeat.com, Visa presently has an average rating of "Moderate Buy" and a consensus target price of $372.80.

Visa Trading Up 0.6%

NYSE V traded up $2.04 during trading on Thursday, hitting $370.04. The stock had a trading volume of 2,441,860 shares, compared to its average volume of 6,987,358. The company has a market capitalization of $682.78 billion, a PE ratio of 37.30, a PEG 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. The firm has a 50 day moving average price of $344.66 and a 200 day moving average price of $334.72. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $372.43.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion during 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%. The business's quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.51 EPS. As a group, equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 39,350 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $340.41, for a total value of $13,395,133.50. Following the transaction, the insider now owns 26,413 shares of the company's stock, valued at approximately $8,991,249.33. The trade was a 59.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,948 shares of company stock worth $41,546,299. 0.13% of the stock is owned by insiders.

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.