Visa Inc. (NYSE:V) Stock Position Trimmed by Welch & Forbes LLC

Welch & Forbes LLC cut its stake in shares of Visa Inc. (NYSE:V - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 738,002 shares of the credit-card processor's stock after selling 6,748 shares during the quarter. Visa makes up about 3.4% of Welch & Forbes LLC's portfolio, making the stock its 5th largest position. Welch & Forbes LLC's holdings in Visa were worth $258,640,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. von Borstel & Associates Inc. acquired a new position in Visa during the first quarter worth $27,000. Sellwood Investment Partners LLC acquired a new position in Visa during the fourth quarter worth $41,000. Mountain Hill Investment Partners Corp. acquired a new position in Visa during the fourth quarter worth $47,000. Measured Risk Portfolios Inc. acquired a new position in Visa during the fourth quarter worth $47,000. Finally, Navigoe LLC acquired a new position in Visa during the fourth quarter worth $53,000. 82.15% of the stock is owned by institutional investors.

Visa Stock Performance

NYSE:V traded down $0.91 on Friday, reaching $348.90. 4,916,998 shares of the company's stock were exchanged, compared to its average volume of 6,790,743. 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 firm has a market cap of $643.78 billion, a price-to-earnings ratio of 35.07, a P/E/G ratio of 2.37 and a beta of 0.92. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The stock has a fifty day simple moving average of $356.90 and a 200-day simple moving average of $343.40.

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 for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company's quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business earned $2.51 earnings per share. As a group, sell-side analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given 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 yield of 0.68%. Visa's dividend payout ratio is presently 23.72%.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 46,214 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider directly owned 26,413 shares in the company, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm'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 transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,108 shares of company stock worth $36,771,200 over the last quarter. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Evercore ISI assumed coverage on shares of Visa in a report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price objective on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a report on Thursday. They issued a "buy" rating and a $410.00 target price for the company. UBS Group increased their target price on shares of Visa from $395.00 to $405.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Barclays reiterated an "overweight" rating on shares of Visa in a report on Friday, June 13th. Finally, Piper Sandler increased their target price on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $375.52.

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.