Arrow Financial Corp Sells 5,883 Shares of Visa Inc. (NYSE:V)

Arrow Financial Corp cut its position in shares of Visa Inc. (NYSE:V - Free Report) by 30.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,738 shares of the credit-card processor's stock after selling 5,883 shares during the quarter. Arrow Financial Corp's holdings in Visa were worth $4,814,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in V. von Borstel & Associates Inc. bought a new stake in Visa during the 1st quarter valued at about $27,000. Sellwood Investment Partners LLC purchased a new position in shares of Visa in the fourth quarter worth $41,000. Mountain Hill Investment Partners Corp. purchased a new stake in Visa during the fourth quarter valued at $47,000. Measured Risk Portfolios Inc. bought a new stake in shares of Visa in the 4th quarter worth about $47,000. Finally, Navigoe LLC bought a new stake in Visa during the 4th quarter valued at about $53,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Performance

Shares of Visa stock traded up $3.36 during trading on Wednesday, hitting $355.22. 4,366,098 shares of the company's stock were exchanged, compared to its average volume of 6,776,777. 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 business has a 50-day simple moving average of $356.82 and a 200-day simple moving average of $344.02. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. The stock has a market capitalization of $655.43 billion, a price-to-earnings ratio of 35.70, a PEG ratio of 2.37 and a beta of 0.92.

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

Visa Dividend Announcement

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

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel owned 11,925 shares in the company, valued at $4,121,041.50. This represents a 17.76% 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 business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,108 shares of company stock worth $36,771,200. Company insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Barclays reaffirmed an "overweight" rating on shares of Visa in a research report on Friday, June 13th. Piper Sandler lifted their target price on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Oppenheimer lifted their price objective on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Macquarie decreased their price objective on shares of Visa from $400.00 to $380.00 and set an "outperform" rating for the company 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 for the company. 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 company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $375.52.

Visa Company 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.