Spring Capital Management LLC Lowers Stock Position in Visa Inc. (NYSE:V)

Spring Capital Management LLC trimmed its holdings in shares of Visa Inc. (NYSE:V) by 0.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 23,452 shares of the credit-card processor’s stock after selling 40 shares during the period. Visa makes up about 4.5% of Spring Capital Management LLC’s investment portfolio, making the stock its 7th biggest position. Spring Capital Management LLC’s holdings in Visa were worth $8,219,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in V. Planned Solutions Inc. raised its holdings in shares of Visa by 5.0% in the 1st quarter. Planned Solutions Inc. now owns 1,567 shares of the credit-card processor’s stock worth $549,000 after buying an additional 75 shares in the last quarter. Kwmg LLC grew its position in Visa by 5.1% in the first quarter. Kwmg LLC now owns 764 shares of the credit-card processor’s stock valued at $268,000 after acquiring an additional 37 shares during the period. Swisher Financial Concepts Inc. raised its stake in Visa by 7.7% during the first quarter. Swisher Financial Concepts Inc. now owns 1,334 shares of the credit-card processor’s stock worth $467,000 after acquiring an additional 95 shares in the last quarter. McLean Asset Management Corp raised its stake in Visa by 3.1% during the first quarter. McLean Asset Management Corp now owns 3,709 shares of the credit-card processor’s stock worth $1,300,000 after acquiring an additional 113 shares in the last quarter. Finally, Merit Financial Group LLC lifted its holdings in shares of Visa by 13.3% during the first quarter. Merit Financial Group LLC now owns 59,030 shares of the credit-card processor’s stock valued at $20,688,000 after acquiring an additional 6,909 shares during the period. 82.15% of the stock is owned by institutional investors.

Visa Stock Down 0.0%

NYSE V opened at $365.14 on Tuesday. The stock has a market capitalization of $673.74 billion, a P/E ratio of 36.81, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $369.15. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a fifty day moving average of $343.82 and a 200-day moving average of $334.27.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the company earned $2.51 earnings per share. On average, equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is presently 23.72%.

Analyst Ratings Changes

Several research firms have recently weighed in on V. Truist Financial initiated coverage on shares of Visa in a report on Monday. They issued a “buy” rating and a $400.00 target price on the stock. Citigroup began coverage on shares of Visa in a research report on Monday. They issued a “buy” rating on the stock. BMO Capital Markets upped their price objective on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Susquehanna reaffirmed a “positive” rating on shares of Visa in a report on Friday, March 21st. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $367.48.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 39,350 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $327.20, for a total value of $12,875,320.00. Following the transaction, the insider now owns 26,413 shares of the company’s stock, valued at approximately $8,642,333.60. This represents a 59.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction that occurred on 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 sale, the general counsel now owns 11,925 shares in the company, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,328 shares of company stock worth $38,419,222 in the last quarter. 0.13% of the stock is owned by company insiders.

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.