Visa Inc. (NYSE:V) Position Reduced by Corundum Group Inc.

Corundum Group Inc. trimmed its position in Visa Inc. (NYSE:V - Free Report) by 33.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,347 shares of the credit-card processor's stock after selling 2,196 shares during the quarter. Visa makes up approximately 0.7% of Corundum Group Inc.'s portfolio, making the stock its 28th largest position. Corundum Group Inc.'s holdings in Visa were worth $1,523,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in V. Bradley & Co. Private Wealth Management LLC acquired a new stake in Visa during the 4th quarter worth about $27,000. NewSquare Capital LLC purchased a new position in Visa during the fourth quarter valued at approximately $35,000. Sellwood Investment Partners LLC acquired a new position in Visa in the 4th quarter valued at approximately $41,000. Mountain Hill Investment Partners Corp. purchased a new stake in Visa in the 4th quarter worth approximately $47,000. Finally, Measured Risk Portfolios Inc. purchased a new stake in Visa in the 4th quarter worth approximately $47,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Trading Down 1.6%

V stock opened at $345.87 on Thursday. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. 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 business's 50 day moving average is $352.56 and its 200-day moving average is $339.31. The firm has a market cap of $638.19 billion, a P/E ratio of 34.76, a P/E/G ratio of 2.36 and a beta of 0.94.

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 for the quarter, beating 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 firm had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. During the same period in the prior year, the business posted $2.51 earnings per share. The business's revenue was up 9.3% compared to the same quarter last year. Equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 14,813 shares of Visa stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $355.04, for a total value of $5,259,207.52. Following the completion of the transaction, the insider now owns 26,413 shares in the company, valued at approximately $9,377,671.52. The trade was a 35.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total value of $3,020,792.80. Following the completion of the transaction, the chief executive officer now directly owns 537 shares in the company, valued at approximately $188,186.28. This represents a 94.14% 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 quarter. 0.13% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Macquarie lowered their price target on shares of Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Barclays reissued an "overweight" rating on shares of Visa in a research report on Friday, June 13th. UBS Group upped their target price on Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Piper Sandler raised their price target on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Finally, BMO Capital Markets boosted their price target on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. 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 stock. According to data from MarketBeat, Visa presently has a consensus rating of "Moderate Buy" and an average price target of $372.80.

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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