Visa Inc. (NYSE:V) is Norden Group LLC's 10th Largest Position

Key Points

• Norden Group LLC reduced its stake in Visa Inc. by 2.7%, making it the firm's 10th largest position, valued at approximately $9.09 million.
• CEO Ryan Mcinerney significantly decreased his ownership by selling 8,630 shares for over $3 million, leaving him with only 537 shares valued at around $190,000.
• Visa announced a quarterly dividend of $0.59 per share, representing an annual yield of 0.66%, and reported a 9.3% increase in year-over-year revenue during its latest earnings release.

Norden Group LLC trimmed its holdings in Visa Inc. (NYSE:V - Free Report) by 2.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 25,938 shares of the credit-card processor's stock after selling 721 shares during the period. Visa accounts for approximately 1.0% of Norden Group LLC's portfolio, making the stock its 10th largest position. Norden Group LLC's holdings in Visa were worth $9,090,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. von Borstel & Associates Inc. acquired a new position in shares of Visa during the first quarter worth about $27,000. Measured Risk Portfolios Inc. acquired a new position in shares of Visa during the fourth quarter worth about $47,000. Navigoe LLC acquired a new position in shares of Visa during the fourth quarter worth about $53,000. O Brien Wealth Partners LLC acquired a new position in shares of Visa during the first quarter worth about $54,000. Finally, Hurley Capital LLC purchased a new stake in Visa during the fourth quarter worth about $56,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $889,868.50. Following the completion of the sale, the general counsel owned 11,925 shares in the company, valued at $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,108 shares of company stock worth $36,771,200. 0.13% of the stock is owned by corporate insiders.

Visa Trading Up 0.8%

NYSE V opened at $356.93 on Monday. Visa Inc. has a one year low of $254.51 and a one year high of $375.51. The company has a 50-day simple moving average of $356.30 and a 200-day simple moving average of $345.45. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market capitalization of $658.60 billion, a PE ratio of 35.87, a price-to-earnings-growth ratio of 2.41 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same period in the previous year, the business posted $2.51 EPS. The company's quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's payout ratio is 23.72%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on V shares. Oppenheimer increased their price target on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. The Goldman Sachs Group assumed coverage on shares of Visa in a research note on Monday, June 2nd. They set a "neutral" rating on the stock. Evercore ISI assumed coverage on shares of Visa in a research note on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price objective on the stock. William Blair reissued an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Finally, Citigroup assumed coverage on shares of Visa in a research note on Monday, June 2nd. They set a "buy" rating on the stock. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $375.52.

Visa 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.

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