Visa Inc. (NYSE:V) Position Lessened by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC decreased its stake in Visa Inc. (NYSE:V) by 14.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,193 shares of the credit-card processor’s stock after selling 9,003 shares during the period. Anchor Capital Advisors LLC’s holdings in Visa were worth $14,845,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in V. Alaethes Wealth LLC grew its holdings in Visa by 0.4% during the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock worth $2,302,000 after purchasing an additional 37 shares during the period. Jessup Wealth Management Inc boosted its holdings in shares of Visa by 0.7% during the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after acquiring an additional 37 shares during the period. Long Run Wealth Advisors LLC boosted its holdings in shares of Visa by 2.5% during the first quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock worth $424,000 after acquiring an additional 37 shares during the period. Cordatus Wealth Management LLC boosted its holdings in shares of Visa by 0.3% during the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after acquiring an additional 37 shares during the period. Finally, Garden State Investment Advisory Services LLC boosted its holdings in shares of Visa by 1.8% during the fourth quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock worth $571,000 after acquiring an additional 38 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on V. Robert W. Baird lifted their price target on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Piper Sandler assumed coverage on shares of Visa in a report on Monday, May 13th. They set an “overweight” rating and a $322.00 price target for the company. Bank of America reiterated a “neutral” rating and set a $297.00 price target (down from $305.00) on shares of Visa in a report on Wednesday, July 10th. Wedbush upped their price target on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Finally, Royal Bank of Canada upped their price target on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $304.44.

Visa Stock Up 0.6 %

NYSE:V traded up $1.64 on Monday, hitting $267.38. The stock had a trading volume of 2,413,491 shares, compared to its average volume of 6,839,605. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market cap of $489.02 billion, a P/E ratio of 29.83, a price-to-earnings-growth ratio of 1.85 and a beta of 0.95. Visa Inc. has a 1 year low of $227.68 and a 1 year high of $290.96. The firm’s fifty day simple moving average is $272.82 and its two-hundred day simple moving average is $274.11.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating the consensus estimate of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The firm had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. During the same quarter last year, the business posted $2.09 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. Analysts predict that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders 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 0.78%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio is currently 23.24%.

Visa Company 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.