Visa Inc. (NYSE:V) Stake Lessened by Zevin Asset Management LLC

Zevin Asset Management LLC lowered its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 13.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,890 shares of the credit-card processor's stock after selling 14,588 shares during the period. Visa makes up 5.1% of Zevin Asset Management LLC's investment portfolio, making the stock its largest holding. Zevin Asset Management LLC's holdings in Visa were worth $32,204,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Lakeridge Wealth Management LLC lifted its position in Visa by 5.7% during the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after purchasing an additional 81 shares during the period. Blue Rock Wealth Management LLC purchased a new stake in Visa during the fourth quarter valued at approximately $306,000. Aptus Capital Advisors LLC increased its holdings in Visa by 19.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock valued at $57,727,000 after buying an additional 30,185 shares during the last quarter. Eagle Strategies LLC increased its holdings in Visa by 2.5% during the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock valued at $811,000 after buying an additional 63 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its holdings in Visa by 7.7% during the fourth quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor's stock valued at $192,948,000 after buying an additional 43,546 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Visa Stock Performance

NYSE V traded up $0.37 on Tuesday, hitting $351.31. 2,133,177 shares of the company's stock traded hands, compared to its average volume of 6,770,952. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The firm's 50-day moving average price is $356.82 and its two-hundred day moving average price is $344.02. The firm has a market capitalization of $648.22 billion, a PE ratio of 35.29, a P/E/G ratio of 2.36 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. During the same period in the previous year, the business posted $2.51 EPS. The business's revenue was up 9.3% compared to the same quarter last year. As a group, analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.67%. The ex-dividend date was Tuesday, May 13th. Visa's payout ratio is presently 23.72%.

Analyst Ratings Changes

A number of analysts have recently issued reports on V shares. BMO Capital Markets increased their price objective on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. UBS Group increased their price objective on shares of Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $410.00 target price on shares of Visa in a research note on Thursday, July 17th. William Blair reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Finally, Truist Financial cut their target price on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Five investment 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $375.52.

Insider Buying and Selling

In other news, 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 transaction of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares of the company's stock, valued at $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,121,041.50. The trade was a 17.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,108 shares of company stock valued at $36,771,200. 0.13% of the stock is owned by corporate insiders.

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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