Visa Inc. (NYSE:V) Shares Sold by Richard C. Young & CO. LTD.

Richard C. Young & CO. LTD. reduced its stake in shares of Visa Inc. (NYSE:V - Free Report) by 1.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,965 shares of the credit-card processor's stock after selling 1,241 shares during the quarter. Visa comprises approximately 3.2% of Richard C. Young & CO. LTD.'s holdings, making the stock its 3rd largest position. Richard C. Young & CO. LTD.'s holdings in Visa were worth $30,127,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. von Borstel & Associates Inc. bought a new position in shares of Visa during the 1st quarter valued at approximately $27,000. Sellwood Investment Partners LLC bought a new stake in Visa in the fourth quarter worth $41,000. Mountain Hill Investment Partners Corp. bought a new stake in Visa in the fourth quarter worth $47,000. Measured Risk Portfolios Inc. bought a new stake in Visa in the fourth quarter worth $47,000. Finally, Navigoe LLC bought a new stake in Visa in the fourth quarter worth $53,000. 82.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup assumed coverage on Visa in a research report on Monday, June 2nd. They issued a "buy" rating for the company. BMO Capital Markets raised their price target on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Susquehanna reiterated a "positive" rating on shares of Visa in a research report on Friday, March 21st. Finally, Piper Sandler lifted their target price on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $375.52.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 11,636 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,108 shares of company stock worth $36,771,200. Insiders own 0.13% of the company's stock.

Visa Stock Down 0.3%

Visa stock traded down $0.91 during trading hours on Friday, reaching $348.90. The stock had a trading volume of 4,916,998 shares, compared to its average volume of 6,795,706. The company has a market cap of $643.78 billion, a price-to-earnings ratio of 35.07, a PEG ratio of 2.37 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The business's 50 day moving average price is $356.90 and its 200-day moving average price is $343.40. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. 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 previous year, the firm earned $2.51 earnings per share. The company's revenue was up 9.3% on a year-over-year basis. Sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid 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 23.72%.

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.