Visa Inc. (NYSE:V) Position Decreased by Fulton Breakefield Broenniman LLC

Fulton Breakefield Broenniman LLC cut its stake in shares of Visa Inc. (NYSE:V - Free Report) by 10.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,116 shares of the credit-card processor's stock after selling 12,557 shares during the quarter. Visa comprises approximately 2.6% of Fulton Breakefield Broenniman LLC's investment portfolio, making the stock its 10th biggest holding. Fulton Breakefield Broenniman LLC's holdings in Visa were worth $36,488,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in V. Vanguard Group Inc. lifted its position in Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock valued at $50,378,465,000 after purchasing an additional 7,079,706 shares during the period. Geode Capital Management LLC lifted its position in Visa by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock valued at $12,729,901,000 after purchasing an additional 1,689,926 shares during the period. Capital International Investors raised its position in shares of Visa by 3.8% in the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock worth $7,526,660,000 after acquiring an additional 866,596 shares during the period. Capital World Investors raised its position in shares of Visa by 1.0% in the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock worth $7,356,614,000 after acquiring an additional 241,057 shares during the period. Finally, Northern Trust Corp raised its position in shares of Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock worth $5,771,116,000 after acquiring an additional 2,785,707 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the sale, the general counsel owned 11,925 shares of the company's stock, valued at $4,121,041.50. This represents a 17.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,108 shares of company stock valued at $36,771,200 in the last 90 days. Company insiders own 0.13% of the company's stock.

Visa Stock Down 2.3%

Shares of NYSE V opened at $347.71 on Monday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The stock has a market cap of $641.58 billion, a PE ratio of 34.95, a P/E/G ratio of 2.36 and a beta of 0.92. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average of $356.93 and a 200 day moving average of $342.86.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share 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 analysts' expectations of $9.57 billion. During the same quarter in the prior year, the company posted $2.51 EPS. The business's revenue for the quarter was up 9.3% on a year-over-year basis. As a group, sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. Visa's dividend payout ratio (DPR) is 23.72%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. William Blair reiterated an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Truist Financial assumed coverage on shares of Visa in a research report on Monday, June 2nd. They issued a "buy" rating and a $400.00 price objective for the company. BMO Capital Markets upped 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. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Finally, Jefferies Financial Group upped their price objective on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Visa currently has an average rating of "Moderate Buy" and a consensus target price of $372.84.

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.

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