Visa Inc. (NYSE:V) Shares Sold by Leeward Financial Partners LLC

Key Points

• Leeward Financial Partners LLC reduced its holdings in Visa Inc. by 6.5%, owning 14,180 shares following the sale of 979 shares during the first quarter.
• Visa reported earnings of $2.98 EPS for the most recent quarter, exceeding expectations and showing a 14.3% increase in revenue compared to the previous year.
• The company recently announced a quarterly dividend of $0.59, reflecting a 0.7% yield, with an ex-dividend date set for August 12th.

Leeward Financial Partners LLC lessened its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 6.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,180 shares of the credit-card processor's stock after selling 979 shares during the period. Visa accounts for approximately 1.9% of Leeward Financial Partners LLC's investment portfolio, making the stock its 21st biggest holding. Leeward Financial Partners LLC's holdings in Visa were worth $4,969,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. von Borstel & Associates Inc. acquired a new position in Visa during the first quarter worth approximately $27,000. Measured Risk Portfolios Inc. acquired a new position in Visa during the fourth quarter worth approximately $47,000. Navigoe LLC acquired a new position in Visa during the fourth quarter worth approximately $53,000. O Brien Wealth Partners LLC acquired a new position in Visa during the first quarter worth approximately $54,000. Finally, Global X Japan Co. Ltd. acquired a new position in Visa during the first quarter worth approximately $56,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Stock Down 1.4%

V opened at $337.21 on Wednesday. The business's fifty day moving average is $354.38 and its two-hundred day moving average is $346.84. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $622.21 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 2.28 and a beta of 0.94. Visa Inc. has a one year low of $255.77 and a one year high of $375.51.

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

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be given a $0.59 dividend. 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 is currently 23.05%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares in the company, valued at $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,913 shares of company stock worth $32,902,432 over the last 90 days. Company insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

V has been the topic of several research analyst reports. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Barclays reiterated an "overweight" rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Jefferies Financial Group lifted their target price on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. William Blair reiterated an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group initiated coverage on Visa in a research note on Monday, June 2nd. They issued a "neutral" rating on the stock. Five research 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 currently 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.

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