Wills Financial Group LLC Sells 2,253 Shares of Visa Inc. $V

Wills Financial Group LLC reduced its position in Visa Inc. (NYSE:VFree Report) by 23.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,223 shares of the credit-card processor’s stock after selling 2,253 shares during the period. Wills Financial Group LLC’s holdings in Visa were worth $2,314,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Inceptionr LLC purchased a new stake in shares of Visa in the first quarter valued at about $1,296,000. Greenline Wealth Management LLC raised its stake in shares of Visa by 77.1% in the first quarter. Greenline Wealth Management LLC now owns 1,114 shares of the credit-card processor’s stock valued at $337,000 after buying an additional 485 shares during the period. Liberty One Investment Management LLC lifted its holdings in Visa by 1,079.8% during the first quarter. Liberty One Investment Management LLC now owns 18,948 shares of the credit-card processor’s stock valued at $5,727,000 after purchasing an additional 17,342 shares during the last quarter. Alfreton Capital LLP grew its stake in Visa by 34.4% in the 1st quarter. Alfreton Capital LLP now owns 336,000 shares of the credit-card processor’s stock valued at $101,553,000 after buying an additional 86,000 shares in the last quarter. Finally, Aspen Grove Capital LLC raised its stake in shares of Visa by 17.0% during the 1st quarter. Aspen Grove Capital LLC now owns 2,157 shares of the credit-card processor’s stock valued at $652,000 after purchasing an additional 313 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other news, CFO Chris Suh sold 10,639 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the transaction, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at approximately $3,206,524.32. This represents a 51.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total transaction of $729,720.00. Following the completion of the sale, the general counsel owned 18,404 shares of the company’s stock, valued at $6,625,440. This trade represents a 9.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 75,581 shares of company stock valued at $25,627,975. 0.12% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Robert W. Baird set a $412.00 price objective on shares of Visa and gave the stock an “outperform” rating in a research report on Monday, July 6th. UBS Group boosted their price objective on Visa from $390.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. BNP Paribas Exane upgraded shares of Visa to a “strong-buy” rating in a report on Tuesday. Sanford C. Bernstein reiterated an “outperform” rating and issued a $450.00 price target on shares of Visa in a report on Tuesday, June 2nd. Finally, Barclays began coverage on Visa in a research report on Tuesday, July 7th. They issued an “overweight” rating and a $420.00 target price for the company. Eight research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Visa has a consensus rating of “Buy” and an average price target of $398.36.

Check Out Our Latest Stock Analysis on V

More Visa News

Here are the key news stories impacting Visa this week:

Visa Stock Performance

NYSE V opened at $351.68 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. The business has a 50-day moving average price of $336.98 and a 200-day moving average price of $325.13. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $365.14. The firm has a market cap of $630.84 billion, a price-to-earnings ratio of 30.63, a price-to-earnings-growth ratio of 1.88 and a beta of 0.75.

Visa (NYSE:VGet Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The company had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.75 billion. During the same quarter in the previous year, the business posted $2.76 earnings per share. Visa’s quarterly revenue was up 17.1% on a year-over-year basis. As a group, equities research analysts predict that Visa Inc. will post 13.13 EPS for the current fiscal year.

Visa announced that its Board of Directors has initiated a share buyback program on Tuesday, April 28th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the credit-card processor to purchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were issued a $0.67 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio (DPR) is currently 23.34%.

Visa Company Profile

(Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

Further Reading

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Institutional Ownership by Quarter for Visa (NYSE:V)

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