Callan Family Office LLC Cuts Stock Holdings in Visa Inc. (NYSE:V)

Key Points

• Callan Family Office LLC reduced its holdings in Visa Inc. by 13.6%, owning 41,524 shares worth approximately $14.55 million after selling 6,550 shares in the first quarter.
• Visa reported earnings of $2.98 per share for the latest quarter, exceeding expectations, with a year-over-year revenue increase of 14.3% to $10.17 billion.
• The firm declared a quarterly dividend of $0.59 per share, representing a 0.7% dividend yield, to be paid on September 2nd.

Callan Family Office LLC lowered its position in shares of Visa Inc. (NYSE:V - Free Report) by 13.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,524 shares of the credit-card processor's stock after selling 6,550 shares during the period. Visa accounts for about 1.1% of Callan Family Office LLC's holdings, making the stock its 18th biggest position. Callan Family Office LLC's holdings in Visa were worth $14,553,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of V. von Borstel & Associates Inc. purchased a new stake in Visa in the first quarter valued at approximately $27,000. Measured Risk Portfolios Inc. purchased a new stake in Visa in the fourth quarter worth approximately $47,000. O Brien Wealth Partners LLC purchased a new stake in Visa in the first quarter worth approximately $54,000. Global X Japan Co. Ltd. purchased a new stake in Visa in the first quarter worth approximately $56,000. Finally, Cedar Mountain Advisors LLC boosted its position in Visa by 28.5% during the first quarter. Cedar Mountain Advisors LLC now owns 167 shares of the credit-card processor's stock valued at $59,000 after buying an additional 37 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction that occurred on Thursday, June 5th. The shares were 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 directly owned 26,413 shares in the company, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,100 shares of company stock valued at $27,643,224 over the last quarter. Company insiders own 0.13% of the company's stock.

Visa Stock Up 0.3%

Shares of V stock traded up $0.90 during trading hours on Tuesday, hitting $336.80. 5,682,507 shares of the company's stock traded hands, compared to its average volume of 6,302,282. The stock's fifty day simple moving average is $351.62 and its two-hundred day simple moving average is $347.23. Visa Inc. has a 12-month low of $258.74 and a 12-month high of $375.51. The stock has a market cap of $617.28 billion, a price-to-earnings ratio of 32.89, a PEG ratio of 2.24 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same period last year, the business earned $2.42 earnings per share. The business's revenue was up 14.3% on a year-over-year basis. On average, analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm 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 dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, August 12th. Visa's dividend payout ratio (DPR) is presently 23.05%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on V. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Piper Sandler lifted 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. Citigroup assumed coverage on Visa in a research note on Monday, June 2nd. They issued a "buy" rating on the stock. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a research note on Thursday, July 17th. They issued a "buy" rating and a $410.00 price target on the stock. 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's stock. Based on data from MarketBeat.com, Visa has an average rating of "Moderate Buy" and an average price target of $380.84.

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.