Moors & Cabot Inc. Has $24.76 Million Stock Holdings in Visa Inc. (NYSE:V)

Key Points

• Moors & Cabot Inc. reduced its holdings in Visa Inc. by 5.9% during Q1, now holding 70,643 shares, making it the firm's 7th largest position, valued at approximately $24.76 million.
• Visa recently reported a strong quarterly performance with an EPS of $2.98, exceeding expectations and a year-over-year revenue increase of 14.3%.
• The company declared a quarterly dividend of $0.59 per share, with stockholders of record to be paid on September 2nd, representing an annual yield of 0.7%.

Moors & Cabot Inc. decreased its holdings in Visa Inc. (NYSE:V - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 70,643 shares of the credit-card processor's stock after selling 4,410 shares during the quarter. Visa accounts for approximately 1.3% of Moors & Cabot Inc.'s investment portfolio, making the stock its 7th biggest holding. Moors & Cabot Inc.'s holdings in Visa were worth $24,758,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its position in shares of Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after buying an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after buying an additional 4,817 shares in the last quarter. Disciplined Investors L.L.C. bought a new position in shares of Visa during the 4th quarter worth approximately $519,000. Venture Visionary Partners LLC lifted its position in shares of Visa by 1.6% during the 4th quarter. Venture Visionary Partners LLC now owns 93,543 shares of the credit-card processor's stock worth $29,567,000 after buying an additional 1,483 shares in the last quarter. Finally, Biltmore Family Office LLC lifted its position in shares of Visa by 4.9% during the 4th quarter. Biltmore Family Office LLC now owns 6,070 shares of the credit-card processor's stock worth $1,918,000 after buying an additional 282 shares in the last quarter. Institutional investors own 82.15% of the company's stock.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at $190,001.34. This trade represents a 94.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 46,214 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the transaction, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,913 shares of company stock valued at $32,902,432. Insiders own 0.13% of the company's stock.

Visa Price Performance

NYSE:V traded down $6.66 during trading hours on Friday, hitting $338.81. The stock had a trading volume of 8,655,366 shares, compared to its average volume of 5,746,410. The company has a 50 day simple moving average of $355.06 and a two-hundred day simple moving average of $346.34. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.08. Visa Inc. has a one year low of $254.51 and a one year high of $375.51. The firm has a market capitalization of $625.16 billion, a price-to-earnings ratio of 33.09, a P/E/G ratio of 2.30 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same period last year, the firm earned $2.42 EPS. The business's quarterly revenue was up 14.3% compared to the same quarter last year. Research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa's dividend payout ratio (DPR) is presently 23.05%.

Analyst Ratings Changes

V has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 target price on the stock. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Evercore ISI initiated coverage on shares of Visa in a research note on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price target for the company. Jefferies Financial Group raised their price target on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Finally, UBS Group restated a "buy" rating and set a $415.00 price target (up previously from $405.00) on shares of Visa in a research note on Wednesday. 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $380.84.

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.