Zevin Asset Management LLC Sells 14,588 Shares of Visa Inc. (NYSE:V)

Zevin Asset Management LLC lowered its position in Visa Inc. (NYSE:V - Free Report) by 13.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,890 shares of the credit-card processor's stock after selling 14,588 shares during the quarter. Visa accounts for approximately 5.1% of Zevin Asset Management LLC's holdings, making the stock its biggest holding. Zevin Asset Management LLC's holdings in Visa were worth $32,204,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. AllSquare Wealth Management LLC lifted its stake in Visa by 31.2% in the 1st quarter. AllSquare Wealth Management LLC now owns 870 shares of the credit-card processor's stock valued at $305,000 after buying an additional 207 shares in the last quarter. KLP Kapitalforvaltning AS raised its holdings in shares of Visa by 4.3% in the first quarter. KLP Kapitalforvaltning AS now owns 715,962 shares of the credit-card processor's stock worth $250,916,000 after acquiring an additional 29,300 shares during the last quarter. VCI Wealth Management LLC purchased a new stake in shares of Visa in the first quarter valued at $321,000. Alpha Omega Group Inc. acquired a new stake in shares of Visa during the first quarter valued at $210,000. Finally, Financial Partners Group Inc increased its position in Visa by 5.2% during the 1st quarter. Financial Partners Group Inc now owns 753 shares of the credit-card processor's stock worth $264,000 after purchasing an additional 37 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on V. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a research note on Thursday, July 17th. They set a "buy" rating and a $410.00 price objective on the stock. William Blair reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. UBS Group boosted their price target on Visa from $395.00 to $405.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Finally, Jefferies Financial Group raised their price objective on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. 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's stock. Based on data from MarketBeat, Visa presently has a consensus rating of "Moderate Buy" and a consensus target price of $375.52.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This trade 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 at this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction dated 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 transaction, the insider directly owned 26,413 shares of the company's stock, valued at $9,904,875. This represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,108 shares of company stock valued at $36,771,200 in the last quarter. Company insiders own 0.13% of the company's stock.

Visa Stock Down 0.3%

Shares of NYSE V traded down $0.99 on Thursday, hitting $354.30. The company had a trading volume of 5,882,734 shares, compared to its average volume of 5,551,461. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The firm has a market capitalization of $653.74 billion, a P/E ratio of 35.61, a PEG ratio of 2.40 and a beta of 0.92. The business has a 50 day moving average of $356.62 and a two-hundred day moving average of $344.40.

Visa (NYSE:V - Get Free Report) last released 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 firm had revenue of $9.59 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. As a group, equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is 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.