L. Roy Papp & Associates LLP Sells 2,364 Shares of Visa Inc. (NYSE:V)

L. Roy Papp & Associates LLP cut its holdings in Visa Inc. (NYSE:V - Free Report) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 102,611 shares of the credit-card processor's stock after selling 2,364 shares during the period. Visa comprises 4.4% of L. Roy Papp & Associates LLP's holdings, making the stock its 3rd largest holding. L. Roy Papp & Associates LLP's holdings in Visa were worth $35,961,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Visa during the 4th quarter worth about $27,000. POM Investment Strategies LLC increased its stake in Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock worth $31,000 after purchasing an additional 32 shares during the period. Compass Planning Associates Inc purchased a new stake in shares of Visa during the fourth quarter valued at $32,000. NewSquare Capital LLC purchased a new position in Visa in the 4th quarter worth about $35,000. Finally, FPC Investment Advisory Inc. lifted its holdings in Visa by 377.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor's stock valued at $36,000 after buying an additional 83 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Performance

Shares of NYSE:V traded up $3.67 on Friday, hitting $370.44. 5,007,822 shares of the company were exchanged, compared to its average volume of 7,003,537. The firm has a market capitalization of $683.52 billion, a P/E ratio of 37.34, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. The company has a current ratio of 1.12, a quick ratio of 1.12 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 $371.00. The stock's 50 day moving average price is $344.98 and its 200 day moving average price is $335.10.

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

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is 23.72%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $362.77, for a total transaction of $3,127,077.40. Following the sale, the chief executive officer now directly owns 537 shares of the company's stock, valued at $194,807.49. This trade represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $327.20, for a total value of $12,875,320.00. Following the transaction, the insider now owns 26,413 shares of the company's stock, valued at approximately $8,642,333.60. This represents a 59.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,162 shares of company stock worth $58,645,479 over the last quarter. Insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on V shares. UBS Group raised their target price on shares of Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. 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. Piper Sandler lifted their target price on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. BMO Capital Markets raised their price target on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods reissued a "hold" rating on shares of Visa in a report on Thursday, February 13th. Five 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $372.80.

Visa 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.