Visa Inc. (NYSE:V) Shares Sold by Whitaker Myers Wealth Managers LTD.

Whitaker Myers Wealth Managers LTD. cut its stake in Visa Inc. (NYSE:V) by 44.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 835 shares of the credit-card processor’s stock after selling 658 shares during the period. Whitaker Myers Wealth Managers LTD.’s holdings in Visa were worth $292,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Visa in the fourth quarter worth about $5,171,271,000. GAMMA Investing LLC grew its holdings in shares of Visa by 38,416.3% during the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock worth $5,173,271,000 after purchasing an additional 14,723,050 shares in the last quarter. Vanguard Group Inc. increased its holdings in Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after buying an additional 7,079,706 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Visa in the 4th quarter valued at approximately $1,955,403,000. Finally, Proficio Capital Partners LLC lifted its holdings in shares of Visa by 17,018.7% during the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after acquiring an additional 3,926,049 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 39,350 shares of the stock in a transaction on 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 sale, the insider now owns 26,413 shares in the company, valued at approximately $8,642,333.60. This trade represents a 59.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 168,162 shares of company stock worth $58,645,479 in the last quarter. 0.13% of the stock is owned by company insiders.

Visa Trading Up 1.0%

Shares of V stock opened at $370.44 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm has a market cap of $683.52 billion, a P/E ratio of 37.34, a PEG ratio of 2.33 and a beta of 0.94. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $371.00. The company has a 50 day moving average of $345.45 and a 200-day moving average of $335.70.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.51 earnings per share. Sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.64%. Visa’s dividend payout ratio is 23.72%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on V shares. Truist Financial started coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “buy” rating and a $400.00 target price on the stock. Mizuho upgraded shares of Visa from a “neutral” rating to an “outperform” rating and upped their target price for the company from $359.00 to $425.00 in a research report on Thursday. Wall Street Zen raised Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. UBS Group increased their target price on Visa from $395.00 to $405.00 and gave the company a “buy” rating in a research note on Wednesday, May 28th. Finally, The Goldman Sachs Group initiated coverage on Visa in a research report on Monday, June 2nd. They set a “neutral” rating for the company. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $372.80.

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.