Riverbridge Partners LLC Sells 2,962 Shares of Visa Inc. (NYSE:V)

Riverbridge Partners LLC cut its holdings in Visa Inc. (NYSE:V - Free Report) by 1.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 170,548 shares of the credit-card processor's stock after selling 2,962 shares during the quarter. Riverbridge Partners LLC's holdings in Visa were worth $59,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Visa during the fourth quarter valued at approximately $5,171,271,000. GAMMA Investing LLC lifted its position in Visa by 38,416.3% in the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after acquiring an additional 14,723,050 shares in the last quarter. Vanguard Group Inc. lifted its holdings 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 in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Visa in the fourth quarter worth approximately $1,955,403,000. Finally, Proficio Capital Partners LLC boosted its holdings in Visa by 17,018.7% in 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 purchasing an additional 3,926,049 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 14,813 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $355.04, for a total value 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 approximately $9,377,671.52. The trade was a 35.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company'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 transaction of $2,978,899.60. Following the completion of the transaction, the chief executive officer now owns 537 shares of the company's stock, valued at $185,576.46. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,098 shares of company stock worth $36,738,526 in the last quarter. Insiders own 0.13% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on V. Barclays restated an "overweight" rating on shares of Visa in a research note on Friday, June 13th. Jefferies Financial Group increased their price objective on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Evercore ISI initiated coverage on Visa in a research report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price objective on the stock. UBS Group lifted their target price on Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Finally, Piper Sandler raised their price objective on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Five investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $372.80.

Visa Stock Performance

NYSE:V traded down $2.34 during midday trading on Friday, reaching $338.04. The stock had a trading volume of 19,326,861 shares, compared to its average volume of 7,085,858. The firm's fifty day simple moving average is $351.69 and its 200-day simple moving average is $338.37. The stock has a market capitalization of $623.73 billion, a P/E ratio of 33.97, a PEG ratio of 2.29 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm's revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.51 EPS. On average, equities research analysts forecast that Visa Inc. will post 11.3 EPS 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 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio is currently 23.72%.

Visa Company 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.