Visa Inc. (NYSE:V) is Patten & Patten Inc. TN's 7th Largest Position

Key Points

• Patten & Patten Inc. TN reduced its stake in Visa Inc. by 1.2% in the first quarter, maintaining Visa as its 7th largest position at a value of $37.27 million.
• Insider activity includes significant sales, with General Counsel Julie B. Rottenberg selling 2,575 shares and CEO Ryan Mcinerney selling 8,630 shares, indicating a decrease in insider ownership.
• Visa recently announced a quarterly dividend of $0.59 per share, leading to an annualized dividend yield of 0.66%, reflecting its strong financial performance with a net margin of 52.86% and revenue increasing by 9.3% year-over-year.

Patten & Patten Inc. TN reduced its stake in Visa Inc. (NYSE:V - Free Report) by 1.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,356 shares of the credit-card processor's stock after selling 1,271 shares during the period. Visa comprises approximately 2.5% of Patten & Patten Inc. TN's investment portfolio, making the stock its 7th largest position. Patten & Patten Inc. TN's holdings in Visa were worth $37,274,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC raised its holdings in 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 purchasing an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after acquiring an additional 4,817 shares in the last quarter. Maridea Wealth Management LLC bought a new stake in shares of Visa in the 4th quarter valued at $340,000. L & S Advisors Inc increased its stake in shares of Visa by 1,695.0% in the 4th quarter. L & S Advisors Inc now owns 16,514 shares of the credit-card processor's stock valued at $5,219,000 after acquiring an additional 15,594 shares in the last quarter. Finally, American Money Management LLC increased its stake in shares of Visa by 0.4% in the 4th quarter. American Money Management LLC now owns 33,867 shares of the credit-card processor's stock valued at $10,703,000 after acquiring an additional 135 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

NYSE V traded down $2.50 on Thursday, reaching $348.41. 4,468,097 shares of the company's stock traded hands, compared to its average volume of 6,586,093. Visa Inc. has a 12 month low of $254.51 and a 12 month high of $375.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a 50-day simple moving average of $355.61 and a 200 day simple moving average of $345.86. The stock has a market cap of $642.88 billion, a PE ratio of 34.02, a P/E/G ratio of 2.37 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 59.03%. The business had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same period last year, the business earned $2.42 earnings per share. The business's quarterly revenue was up 14.3% on a year-over-year basis. As a group, research analysts predict 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 will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. Visa's dividend payout ratio is 23.05%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Jefferies Financial Group lifted their price objective on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. BMO Capital Markets lifted their price objective on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group initiated coverage on shares of Visa in a research report on Monday, June 2nd. They issued a "neutral" rating on the stock. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a report on Thursday, July 17th. They set a "buy" rating and a $410.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $379.04.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was 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 owned 26,413 shares in the company, valued at $9,772,810. This represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,913 shares of company stock worth $32,902,432 in the last 90 days. Company insiders own 0.13% of the company's stock.

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.