WT Wealth Management Trims Stake in Visa Inc. (NYSE:V)

WT Wealth Management decreased its position in Visa Inc. (NYSE:V - Free Report) by 13.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,459 shares of the credit-card processor's stock after selling 1,268 shares during the period. WT Wealth Management's holdings in Visa were worth $2,964,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after purchasing an additional 7,079,706 shares during the period. Geode Capital Management LLC grew its stake in Visa by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock valued at $12,729,901,000 after acquiring an additional 1,689,926 shares in the last quarter. Capital International Investors increased its holdings in Visa by 3.8% during the 4th quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock worth $7,526,660,000 after acquiring an additional 866,596 shares during the period. Capital World Investors lifted its stake in Visa by 1.0% in the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock worth $7,356,614,000 after purchasing an additional 241,057 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Visa by 18.0% in the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after purchasing an additional 2,785,707 shares during the period. 82.15% of the stock is owned by institutional investors.

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction that occurred 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction that occurred on 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 transaction, the insider directly owned 26,413 shares in the company, valued at approximately $9,904,875. This represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,108 shares of company stock valued at $36,771,200 over the last 90 days. 0.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on V shares. Macquarie reduced their target price on Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Citigroup initiated coverage on Visa in a research report on Monday, June 2nd. They issued a "buy" rating for the company. BMO Capital Markets increased their price target on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group started coverage on shares of Visa in a report on Monday, June 2nd. They issued a "neutral" rating for the company. 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 equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $375.52.

Visa Stock Performance

Shares of Visa stock traded up $1.85 during trading hours on Monday, reaching $350.90. 5,215,544 shares of the stock traded hands, compared to its average volume of 6,789,211. The company has a 50 day moving average price of $356.82 and a 200 day moving average price of $344.02. Visa Inc. has a one year low of $252.70 and a one year high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $647.46 billion, a price-to-earnings ratio of 32.81, a P/E/G ratio of 2.36 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same period last year, the firm posted $2.51 EPS. The company's revenue was up 9.3% on a year-over-year basis. On average, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given 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 dividend payout ratio is presently 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.