Golden State Equity Partners Sells 268 Shares of Visa Inc. (NYSE:V)

Golden State Equity Partners cut its holdings in Visa Inc. (NYSE:V) by 2.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,176 shares of the credit-card processor’s stock after selling 268 shares during the quarter. Visa accounts for approximately 0.8% of Golden State Equity Partners’ holdings, making the stock its 20th largest position. Golden State Equity Partners’ holdings in Visa were worth $3,917,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in V. S.A. Mason LLC raised its stake in Visa by 2.3% during the 1st quarter. S.A. Mason LLC now owns 4,810 shares of the credit-card processor’s stock valued at $1,686,000 after buying an additional 110 shares during the last quarter. Balance Wealth LLC purchased a new stake in Visa during the 1st quarter valued at $204,000. RAM Investment Partners LLC raised its stake in Visa by 19.3% during the 1st quarter. RAM Investment Partners LLC now owns 2,441 shares of the credit-card processor’s stock valued at $856,000 after buying an additional 395 shares during the last quarter. Global Assets Advisory LLC raised its stake in Visa by 203.3% during the 1st quarter. Global Assets Advisory LLC now owns 7,594 shares of the credit-card processor’s stock valued at $2,493,000 after buying an additional 5,090 shares during the last quarter. Finally, Archford Capital Strategies LLC raised its stake in Visa by 34.6% during the 1st quarter. Archford Capital Strategies LLC now owns 46,388 shares of the credit-card processor’s stock valued at $16,257,000 after buying an additional 11,919 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the transaction, the general counsel now owns 11,925 shares of the company’s stock, valued at $4,121,041.50. This represents a 17.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the transaction, the chief executive officer now directly owns 537 shares of the company’s stock, valued at $185,576.46. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,098 shares of company stock valued at $36,738,526. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on V shares. Piper Sandler boosted their target price on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Mizuho upgraded shares of Visa from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. UBS Group boosted their target price on shares of Visa from $395.00 to $405.00 and gave the company a “buy” rating in a research note on Wednesday, May 28th. Evercore ISI started coverage on shares of Visa in a research note on Wednesday, April 9th. They set an “in-line” rating and a $330.00 target price for the company. Finally, BMO Capital Markets boosted their target price on shares of Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $372.80.

Visa Trading Down 1.6%

Shares of Visa stock opened at $345.87 on Thursday. The company has a market capitalization of $638.19 billion, a P/E ratio of 34.76, a P/E/G ratio of 2.36 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The company has a fifty day moving average of $352.56 and a 200 day moving average of $339.31. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. The company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. Visa’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.51 EPS. On average, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio is currently 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.