Tobam Trims Stock Holdings in Visa Inc. (NYSE:V)

Tobam reduced its position in Visa Inc. (NYSE:V - Free Report) by 53.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,857 shares of the credit-card processor's stock after selling 2,110 shares during the period. Tobam's holdings in Visa were worth $651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Visa in the 4th quarter worth $27,000. POM Investment Strategies LLC boosted its stake in shares of 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 buying an additional 32 shares during the last quarter. Compass Planning Associates Inc purchased a new position in shares of Visa in the 4th quarter worth $32,000. NewSquare Capital LLC purchased a new position in shares of Visa in the 4th quarter worth $35,000. Finally, FPC Investment Advisory Inc. lifted its position in Visa by 377.3% during 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 in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 39,350 shares of the 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 $8,991,249.33. This represents a 59.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company's 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 sale, the chief executive officer now owns 537 shares of the company's stock, valued at approximately $188,186.28. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,448 shares of company stock valued at $50,133,659 over the last quarter. 0.13% of the stock is owned by corporate insiders.

Visa Price Performance

Shares of NYSE:V traded down $18.65 during mid-day trading on Friday, reaching $352.75. The stock had a trading volume of 14,176,249 shares, compared to its average volume of 7,017,457. 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 market cap of $650.87 billion, a P/E ratio of 35.56, a price-to-earnings-growth ratio of 2.33 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 business's 50 day moving average price is $349.76 and its 200 day moving average price is $337.61.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.51 earnings per share. Research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. 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 0.67%. Visa's dividend payout ratio is 23.72%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on V. Citigroup began coverage on Visa in a research report on Monday, June 2nd. They set a "buy" rating on the stock. William Blair reiterated an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Truist Financial began coverage on Visa in a research report on Monday, June 2nd. They set a "buy" rating and a $400.00 target price on the stock. Evercore ISI began coverage on Visa in a research report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 target price on the stock. Finally, Macquarie lowered their target price on Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $372.80.

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.