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

Shorepath Capital Management LLC decreased its holdings in Visa Inc. (NYSE:V - Free Report) by 3.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,375 shares of the credit-card processor's stock after selling 887 shares during the quarter. Visa accounts for about 6.7% of Shorepath Capital Management LLC's portfolio, making the stock its 5th largest holding. Shorepath Capital Management LLC's holdings in Visa were worth $8,893,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of V. Hirtle Callaghan & Co LLC increased its position in Visa by 1.3% during the 4th quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock valued at $724,000 after buying an additional 29 shares in the last quarter. FWL Investment Management LLC increased its position in Visa by 0.5% during the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after buying an additional 29 shares in the last quarter. Elevation Wealth Partners LLC increased its position in Visa by 3.3% during the 4th quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor's stock valued at $297,000 after buying an additional 30 shares in the last quarter. Warther Private Wealth LLC increased its position in Visa by 1.0% during the 4th quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor's stock valued at $928,000 after buying an additional 30 shares in the last quarter. Finally, Valmark Advisers Inc. increased its position in Visa by 0.4% during the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor's stock valued at $2,292,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on V shares. Keefe, Bruyette & Woods reissued a "hold" rating on shares of Visa in a report on Thursday, February 13th. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $359.00 to $425.00 in a research note on Thursday. Susquehanna restated a "positive" rating on shares of Visa in a research note on Friday, March 21st. The Goldman Sachs Group initiated coverage on Visa in a research note on Monday, June 2nd. They issued a "neutral" rating on the stock. Finally, Oppenheimer restated an "outperform" rating on shares of Visa in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Visa currently has a consensus rating of "Moderate Buy" and a consensus target price of $372.80.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the transaction, the chief executive officer now owns 537 shares of the company's stock, valued at approximately $188,186.28. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 168,162 shares of company stock valued at $58,645,479 over the last ninety days. 0.13% of the stock is owned by insiders.

Visa Trading Up 1.0%

Shares of V stock opened at $370.44 on Monday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $371.83. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The stock's 50-day moving average price is $345.45 and its 200-day moving average price is $335.88. The stock has a market capitalization of $683.52 billion, a price-to-earnings ratio of 37.34, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The firm had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. During the same period in the previous year, the firm posted $2.51 earnings per share. The business's revenue was up 9.3% compared to the same quarter last year. Equities research analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.64%. Visa's payout ratio is currently 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.

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