Visa Inc. (NYSE:V) Shares Sold by Olstein Capital Management L.P.

Olstein Capital Management L.P. reduced its stake in shares of Visa Inc. (NYSE:V) by 16.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,500 shares of the credit-card processor’s stock after selling 2,000 shares during the period. Olstein Capital Management L.P.’s holdings in Visa were worth $2,930,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in V. Jackson Wealth Management LLC raised its position in Visa by 2.5% in the third quarter. Jackson Wealth Management LLC now owns 12,637 shares of the credit-card processor’s stock valued at $2,907,000 after purchasing an additional 312 shares during the period. JT Stratford LLC raised its position in Visa by 13.7% in the third quarter. JT Stratford LLC now owns 8,472 shares of the credit-card processor’s stock valued at $1,949,000 after purchasing an additional 1,020 shares during the period. Seven Eight Capital LP raised its position in Visa by 46.7% in the third quarter. Seven Eight Capital LP now owns 13,222 shares of the credit-card processor’s stock valued at $3,041,000 after purchasing an additional 4,210 shares during the period. Scotia Capital Inc. raised its position in Visa by 0.6% in the third quarter. Scotia Capital Inc. now owns 1,341,142 shares of the credit-card processor’s stock valued at $308,492,000 after purchasing an additional 8,181 shares during the period. Finally, Sandler Capital Management raised its position in Visa by 24.4% in the third quarter. Sandler Capital Management now owns 26,298 shares of the credit-card processor’s stock valued at $6,049,000 after purchasing an additional 5,160 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Up 0.3 %

Shares of Visa stock traded up $0.76 during trading hours on Wednesday, hitting $268.99. 5,017,760 shares of the company’s stock traded hands, compared to its average volume of 6,819,253. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a twelve month low of $227.68 and a twelve month high of $290.96. The stock has a 50 day simple moving average of $273.58 and a 200-day simple moving average of $273.69. The company has a market cap of $491.97 billion, a PE ratio of 30.03, a PEG ratio of 1.80 and a beta of 0.95.

Visa (NYSE:V) last released its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.08. The company had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.09 EPS. Equities research analysts anticipate that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s dividend payout ratio is presently 23.24%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on V shares. Piper Sandler assumed coverage on Visa in a research report on Monday, May 13th. They set an “overweight” rating and a $322.00 price objective on the stock. UBS Group boosted their target price on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Citigroup boosted their target price on shares of Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Royal Bank of Canada boosted their target price on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, William Blair reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average price target of $303.56.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lloyd Carney sold 909 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The disclosure for this sale can be found here. 0.19% of the stock is owned by company 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.