Visa Inc. (NYSE:V) Stake Cut by Terra Alpha Investments LLC

Terra Alpha Investments LLC trimmed its holdings in Visa Inc. (NYSE:V) by 5.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 14,773 shares of the credit-card processor’s stock after selling 902 shares during the quarter. Visa comprises 5.6% of Terra Alpha Investments LLC’s investment portfolio, making the stock its largest holding. Terra Alpha Investments LLC’s holdings in Visa were worth $5,177,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Visa in the 4th quarter valued at approximately $27,000. POM Investment Strategies LLC raised its stake in shares of Visa by 48.5% during 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 last quarter. Compass Planning Associates Inc acquired a new stake in shares of Visa during the fourth quarter worth $32,000. NewSquare Capital LLC acquired a new stake in shares of Visa during the fourth quarter worth $35,000. Finally, FPC Investment Advisory Inc. grew its position in Visa by 377.3% in 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 during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on V shares. Macquarie cut their price objective on shares of Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Piper Sandler boosted their price target on shares of Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Jefferies Financial Group lifted their price objective on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. Finally, Wall Street Zen upgraded Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $372.80.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the sale, the chief executive officer now owns 537 shares of the company’s stock, valued at $188,186.28. 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 the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the sale, the general counsel now owns 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 168,162 shares of company stock worth $58,645,479 in the last ninety days. Insiders own 0.13% of the company’s stock.

Visa Trading Up 1.2%

NYSE:V opened at $370.89 on Wednesday. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $371.44. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $346.49 and a 200-day simple moving average of $336.52. The company has a market capitalization of $684.35 billion, a PE ratio of 37.39, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period last year, the firm posted $2.51 EPS. The firm’s revenue for the quarter 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid 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 dividend yield of 0.64%. Visa’s dividend payout ratio (DPR) is 23.72%.

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.