Visa Inc. (NYSE:V) Shares Sold by Mill Capital Management LLC

Mill Capital Management LLC cut its stake in Visa Inc. (NYSE:V - Free Report) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 202,273 shares of the credit-card processor's stock after selling 4,487 shares during the period. Visa makes up 5.7% of Mill Capital Management LLC's holdings, making the stock its 4th largest position. Mill Capital Management LLC's holdings in Visa were worth $70,889,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares in the last quarter. Geode Capital Management LLC raised its holdings in Visa by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock worth $12,729,901,000 after acquiring an additional 1,689,926 shares in the last quarter. Capital International Investors raised its holdings in Visa by 3.8% during the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock worth $7,526,660,000 after acquiring an additional 866,596 shares in the last quarter. Capital World Investors raised its holdings in Visa by 1.0% during the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock worth $7,356,614,000 after acquiring an additional 241,057 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Visa by 18.0% during the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock worth $5,771,116,000 after acquiring an additional 2,785,707 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 14,813 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $355.04, for a total transaction of $5,259,207.52. Following the transaction, the insider now owns 26,413 shares in the company, valued at $9,377,671.52. This represents a 35.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the transaction, the chief executive officer now owns 537 shares in the company, valued at approximately $185,576.46. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,098 shares of company stock worth $36,738,526 in the last quarter. Corporate insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Citigroup assumed coverage on Visa in a report on Monday, June 2nd. They set a "buy" rating on the stock. Jefferies Financial Group upped their target price on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Piper Sandler upped their target price on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Macquarie dropped their target price 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. Finally, Barclays reaffirmed an "overweight" rating on shares of Visa in a report on Friday, June 13th. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Visa currently has a consensus rating of "Moderate Buy" and a consensus target price of $372.80.

Visa Stock Down 1.6%

Shares of V opened at $345.87 on Thursday. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The firm has a market cap of $638.19 billion, a P/E ratio of 34.76, a price-to-earnings-growth ratio of 2.36 and a beta of 0.94. The firm's 50-day simple moving average is $352.56 and its 200 day simple moving average is $339.31. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08.

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

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. Visa's payout ratio is presently 23.72%.

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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