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Azzad Asset Management Inc. ADV Sells 1,484 Shares of Visa Inc. (NYSE:V)

Visa logo with Business Services background

Azzad Asset Management Inc. ADV cut its position in shares of Visa Inc. (NYSE:V - Free Report) by 11.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,507 shares of the credit-card processor's stock after selling 1,484 shares during the quarter. Azzad Asset Management Inc. ADV's holdings in Visa were worth $4,033,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital & Planning LLC grew its stake in shares of Visa by 21.2% in the 4th quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor's stock worth $300,000 after buying an additional 166 shares during the last quarter. Sovereign Investment Advisors LLC bought a new stake in Visa in the fourth quarter worth $424,000. Brighton Jones LLC grew its stake in shares of Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after acquiring an additional 6,883 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Visa in the fourth quarter worth $202,074,000. Finally, Revolve Wealth Partners LLC boosted its stake in Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after purchasing an additional 4,817 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Performance

NYSE V traded up $2.41 during trading hours on Tuesday, hitting $357.89. 5,557,241 shares of the company's stock traded hands, compared to its average volume of 7,003,532. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The firm has a market capitalization of $660.37 billion, a P/E ratio of 35.97, a P/E/G ratio of 2.39 and a beta of 0.94. 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 fifty day moving average price is $351.22 and its two-hundred day moving average price is $338.19.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion during 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%. The company's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.51 EPS. Equities research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on V shares. Evercore ISI started 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 for the company. Truist Financial began coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating and a $400.00 price target for the company. Susquehanna restated a "positive" rating on shares of Visa in a report on Friday, March 21st. Piper Sandler increased their target price on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Finally, William Blair restated an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $372.80.

Read Our Latest Analysis on Visa

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 11,636 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the sale, the insider now directly owns 26,413 shares in the company, valued at $9,904,875. This trade represents a 30.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the transaction, the general counsel now owns 11,925 shares in the company, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 140,448 shares of company stock worth $50,133,659 over the last quarter. 0.13% of the stock is currently owned by corporate insiders.

About Visa

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Visa (NYSE:V)

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