Tower Wealth Partners Inc. Reduces Holdings in Visa Inc. (NYSE:V)

Tower Wealth Partners Inc. trimmed its position in shares of Visa Inc. (NYSE:V) by 18.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,023 shares of the credit-card processor’s stock after selling 463 shares during the quarter. Visa accounts for approximately 0.4% of Tower Wealth Partners Inc.’s investment portfolio, making the stock its 27th largest position. Tower Wealth Partners Inc.’s holdings in Visa were worth $709,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Hirtle Callaghan & Co LLC boosted its holdings in Visa by 1.3% during the 4th quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock valued at $724,000 after acquiring an additional 29 shares during the period. FWL Investment Management LLC boosted its holdings in Visa by 0.5% during the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor’s stock valued at $2,005,000 after acquiring an additional 29 shares during the period. Elevation Wealth Partners LLC boosted its holdings in Visa by 3.3% during the 4th quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock valued at $297,000 after acquiring an additional 30 shares during the period. Warther Private Wealth LLC boosted its holdings in Visa by 1.0% during the 4th quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock valued at $928,000 after acquiring an additional 30 shares during the period. Finally, Valmark Advisers Inc. boosted its holdings in Visa by 0.4% during the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock valued at $2,292,000 after acquiring an additional 30 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the transaction, the insider now owns 26,413 shares of the company’s stock, valued at $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the transaction, the chief executive officer now owns 537 shares in the company, valued at $185,576.46. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,162 shares of company stock valued at $58,645,479 over the last quarter. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on V shares. The Goldman Sachs Group started coverage on Visa in a research report on Monday. They issued a “neutral” rating on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a research report on Thursday, February 13th. UBS Group increased their price target on Visa from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Wall Street Zen raised Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Finally, Truist Financial started coverage on Visa in a research report on Monday, June 2nd. They issued a “buy” rating and a $400.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $372.80.

Visa Price Performance

Shares of NYSE V opened at $370.44 on Friday. The firm has a market capitalization of $683.52 billion, a PE ratio of 37.34, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $371.00. The stock’s 50-day simple moving average is $345.45 and its 200-day simple moving average is $335.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V) last released its quarterly earnings results 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 company had revenue of $9.59 billion for 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 firm’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.51 earnings per share. As a group, equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.64%. The ex-dividend date was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is 23.72%.

About Visa

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.