MOKAN Wealth Management Inc. Reduces Holdings in Visa Inc. (NYSE:V)

MOKAN Wealth Management Inc. reduced its position in Visa Inc. (NYSE:V) by 2.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,805 shares of the credit-card processor’s stock after selling 109 shares during the period. MOKAN Wealth Management Inc.’s holdings in Visa were worth $1,332,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Spire Wealth Management increased its holdings in shares of Visa by 7.4% in the 1st quarter. Spire Wealth Management now owns 62,291 shares of the credit-card processor’s stock valued at $21,831,000 after acquiring an additional 4,292 shares during the period. waypoint wealth counsel grew its position in Visa by 30.7% during the 1st quarter. waypoint wealth counsel now owns 1,146 shares of the credit-card processor’s stock worth $402,000 after purchasing an additional 269 shares during the last quarter. Berkshire Money Management Inc. increased its stake in Visa by 7.6% in the first quarter. Berkshire Money Management Inc. now owns 1,481 shares of the credit-card processor’s stock valued at $519,000 after purchasing an additional 104 shares during the period. S.A. Mason LLC raised its holdings in shares of Visa by 2.3% in the first 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. Finally, Balance Wealth LLC acquired a new stake in shares of Visa during the first quarter worth about $204,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 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 transaction of $2,978,899.60. Following the completion of the sale, the chief executive officer now owns 537 shares in the company, valued at approximately $185,576.46. This trade represents a 94.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company’s 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 in the company, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,098 shares of company stock worth $36,738,526 over the last ninety days. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. The Goldman Sachs Group started coverage on Visa in a research report on Monday, June 2nd. They issued a “neutral” rating on the stock. Truist Financial assumed coverage on Visa in a report on Monday, June 2nd. They issued a “buy” rating and a $400.00 target price on the stock. BMO Capital Markets increased their price target on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Piper Sandler lifted their price objective on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Finally, Evercore ISI initiated coverage on shares of Visa in a research report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $372.80.

Visa Stock Down 1.6%

V opened at $345.87 on Thursday. 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 market cap of $638.19 billion, a price-to-earnings ratio of 34.76, a PEG ratio of 2.36 and a beta of 0.94. Visa Inc. has a one year low of $252.70 and a one year high of $375.51. The business’s fifty day moving average is $352.56 and its two-hundred day moving average is $339.31.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.51 EPS. Analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is presently 23.72%.

Visa 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.