Visa Inc. (NYSE:V) Shares Sold by Puzo Michael J

Puzo Michael J lowered its stake in shares of Visa Inc. (NYSE:V) by 3.2% during the first quarter, Holdings Channel reports. The fund owned 2,235 shares of the credit-card processor’s stock after selling 75 shares during the period. Puzo Michael J’s holdings in Visa were worth $783,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of V. Bradley & Co. Private Wealth Management LLC acquired a new stake in Visa in the fourth quarter valued at $27,000. Compass Planning Associates Inc acquired a new stake in shares of Visa during the fourth quarter worth about $32,000. FPC Investment Advisory Inc. grew its stake in shares of Visa by 377.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock valued at $36,000 after purchasing an additional 83 shares during the last quarter. NewSquare Capital LLC purchased a new position in Visa in the 4th quarter valued at $35,000. Finally, Sellwood Investment Partners LLC acquired a new position in shares of Visa during the fourth quarter worth about $41,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Macquarie cut their price objective on Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. BMO Capital Markets upped their target price on shares of Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. William Blair restated an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. Finally, Evercore ISI started coverage on shares of Visa in a research report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 target price on the stock. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $372.80.

Visa Price Performance

Shares of V stock opened at $357.89 on Wednesday. The firm has a fifty day simple moving average of $351.22 and a 200-day simple moving average of $338.19. The company has a market capitalization of $660.37 billion, a PE ratio of 35.97, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. The company had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.51 EPS. Equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders 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 yield of 0.66%. Visa’s dividend payout ratio (DPR) is presently 23.72%.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 46,214 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the sale, the insider now owns 26,413 shares of the company’s stock, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the completion of the sale, the chief executive officer now owns 537 shares of the company’s stock, valued at approximately $188,186.28. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,098 shares of company stock worth $36,738,526 in the last three months. 0.13% of the stock is owned by insiders.

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.