Teamwork Financial Advisors LLC trimmed its position in Visa Inc. (NYSE:V - Free Report) by 13.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,111 shares of the credit-card processor's stock after selling 1,145 shares during the quarter. Teamwork Financial Advisors LLC's holdings in Visa were worth $2,492,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in V. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Visa in the fourth quarter worth about $27,000. POM Investment Strategies LLC lifted its holdings in Visa by 48.5% in the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock worth $31,000 after purchasing an additional 32 shares during the last quarter. Compass Planning Associates Inc bought a new stake in Visa during the fourth quarter worth approximately $32,000. NewSquare Capital LLC acquired a new position in Visa during the fourth quarter valued at approximately $35,000. Finally, FPC Investment Advisory Inc. raised its position in shares of Visa by 377.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor's stock valued at $36,000 after purchasing an additional 83 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the company. Citigroup assumed coverage on Visa in a research report on Monday. They issued a "buy" rating on the stock. BMO Capital Markets lifted their price target on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Macquarie reduced their price objective on Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. UBS Group upped their target price on shares of Visa from $395.00 to $405.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Finally, William Blair reiterated an "outperform" rating on shares of Visa in a research 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $372.80.
Check Out Our Latest Stock Report on V
Visa Stock Down 0.4%
Shares of NYSE:V traded down $1.33 during trading on Thursday, hitting $366.67. 6,876,674 shares of the company's stock traded hands, compared to its average volume of 7,004,727. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $344.66 and a 200-day moving average price of $334.72. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $372.43. The company has a market cap of $676.56 billion, a price-to-earnings ratio of 36.96, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96.
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 company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm's revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.51 earnings per share. As a group, research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.64%. Visa's dividend payout ratio (DPR) is 23.72%.
Insider Buying and Selling
In other news, insider Paul D. Fabara sold 39,350 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider now owns 26,413 shares in the company, valued at $8,991,249.33. This trade represents a 59.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now owns 537 shares in the company, valued at $185,576.46. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 121,948 shares of company stock worth $41,546,299. 0.13% of the stock is owned by corporate insiders.
About Visa
(
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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