PSI Advisors LLC Lowers Position in Visa Inc. (NYSE:V)

PSI Advisors LLC trimmed its position in Visa Inc. (NYSE:V) by 43.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 293 shares of the credit-card processor’s stock after selling 229 shares during the period. PSI Advisors LLC’s holdings in Visa were worth $103,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in V. Lakeridge Wealth Management LLC boosted its position in shares of Visa by 5.7% in the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor’s stock worth $528,000 after purchasing an additional 81 shares in the last quarter. Blue Rock Wealth Management LLC purchased a new position in Visa during the fourth quarter valued at $306,000. Aptus Capital Advisors LLC boosted its holdings in Visa by 19.8% in the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock worth $57,727,000 after acquiring an additional 30,185 shares in the last quarter. King Wealth Management Group grew its stake in shares of Visa by 9.0% in the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock worth $23,663,000 after acquiring an additional 6,172 shares during the last quarter. Finally, Eagle Strategies LLC increased its holdings in shares of Visa by 2.5% during the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock valued at $811,000 after acquiring an additional 63 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on V. Mizuho raised Visa from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. The Goldman Sachs Group began coverage on shares of Visa in a research report on Monday, June 2nd. They set a “neutral” rating on the stock. William Blair reaffirmed an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. Wall Street Zen upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Finally, Susquehanna reiterated a “positive” rating on shares of Visa in a report on Friday, March 21st. Five 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 stock. According to MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $372.80.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the transaction, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 537 shares in the company, valued at approximately $188,186.28. The trade was 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 90 days. 0.13% of the stock is currently owned by insiders.

Visa Stock Down 4.9%

V stock opened at $340.16 on Thursday. The business’s 50-day moving average is $351.38 and its two-hundred day moving average is $338.20. The company has a market cap of $627.64 billion, a price-to-earnings ratio of 34.19, a P/E/G ratio of 2.41 and a beta of 0.94. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion for 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 business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.51 EPS. As a group, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.69%. Visa’s payout ratio is presently 23.72%.

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.