Tobam Reduces Position in Visa Inc. (NYSE:V)

Tobam decreased its holdings in shares of Visa Inc. (NYSE:V) by 53.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,857 shares of the credit-card processor’s stock after selling 2,110 shares during the quarter. Tobam’s holdings in Visa were worth $651,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Capital & Planning LLC grew its holdings in shares of Visa by 21.2% in the fourth quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor’s stock valued at $300,000 after purchasing an additional 166 shares during the period. Sovereign Investment Advisors LLC purchased a new stake in shares of Visa in the fourth quarter valued at about $424,000. Brighton Jones LLC grew its holdings in shares of Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after purchasing an additional 6,883 shares during the period. Union Bancaire Privee UBP SA acquired a new position in Visa in the fourth quarter valued at about $202,074,000. Finally, Revolve Wealth Partners LLC lifted its position in Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after buying an additional 4,817 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Down 0.6%

V stock opened at $371.11 on Friday. The company’s 50 day moving average price is $348.87 and its 200 day moving average price is $337.17. 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 Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The firm has a market capitalization of $684.76 billion, a price-to-earnings ratio of 37.41, a PEG ratio of 2.33 and a beta of 0.94.

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

Visa Dividend Announcement

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

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s 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 $2,978,899.60. Following the sale, the chief executive officer now owns 537 shares of the company’s stock, valued at approximately $185,576.46. This trade represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 11,636 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the sale, the insider now directly owns 26,413 shares in the company, valued at approximately $9,904,875. The trade was a 30.58% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,448 shares of company stock worth $50,133,659. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. William Blair reaffirmed an “outperform” rating on shares of Visa in a research report on Wednesday, April 30th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a research report on Thursday, February 13th. Macquarie decreased their target price on shares of Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. UBS Group upped their target price on shares of Visa from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Finally, Susquehanna reaffirmed a “positive” rating on shares of Visa in a research report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $372.80.

Visa Company 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.