Villere ST Denis J & Co. LLC trimmed its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 1.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,669 shares of the credit-card processor's stock after selling 2,197 shares during the period. Visa comprises approximately 4.4% of Villere ST Denis J & Co. LLC's holdings, making the stock its 2nd biggest holding. Villere ST Denis J & Co. LLC's holdings in Visa were worth $45,093,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of V. Lakeridge Wealth Management LLC lifted its stake in shares of Visa by 5.7% during the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after buying an additional 81 shares during the period. Blue Rock Wealth Management LLC acquired a new position in Visa in the 4th quarter valued at $306,000. Aptus Capital Advisors LLC lifted its stake in shares of Visa by 19.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock worth $57,727,000 after purchasing an additional 30,185 shares during the period. King Wealth Management Group boosted its holdings in shares of Visa by 9.0% during the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock worth $23,663,000 after purchasing an additional 6,172 shares during the last quarter. Finally, Eagle Strategies LLC grew its position in shares of Visa by 2.5% in the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock valued at $811,000 after purchasing an additional 63 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Visa
In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $362.77, for a total transaction of $3,127,077.40. Following the transaction, the chief executive officer owned 537 shares in the company, valued at $194,807.49. This trade represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the sale, the general counsel directly owned 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. Insiders sold 101,098 shares of company stock worth $36,738,526 in the last 90 days. Corporate insiders own 0.13% of the company's stock.
Visa Stock Performance
Shares of NYSE V traded up $6.49 during midday trading on Monday, hitting $355.10. 7,077,697 shares of the company's stock were exchanged, compared to its average volume of 6,879,706. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $375.51. The firm has a market cap of $655.22 billion, a P/E ratio of 35.69, a PEG ratio of 2.34 and a beta of 0.94. The stock's 50 day moving average price is $353.30 and its 200-day moving average price is $340.19. 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 (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The company had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the previous year, the firm posted $2.51 EPS. The firm's quarterly revenue was up 9.3% on a year-over-year basis. Equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.
Visa Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.66%. The ex-dividend date was Tuesday, May 13th. Visa's payout ratio is currently 23.72%.
Analyst Ratings Changes
Several equities analysts recently weighed in on V shares. Susquehanna reiterated a "positive" rating on shares of Visa in a research report on Friday, March 21st. Evercore ISI started coverage on shares of Visa in a report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price objective on the stock. William Blair restated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Citigroup initiated coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating for the company. Finally, Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $372.80.
Check Out Our Latest Research Report on V
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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