Visa Inc. (NYSE:V) Shares Sold by First Pacific Financial

First Pacific Financial lessened its stake in shares of Visa Inc. (NYSE:V) by 12.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,694 shares of the credit-card processor’s stock after selling 516 shares during the quarter. First Pacific Financial’s holdings in Visa were worth $1,295,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Aurora Private Wealth Inc. lifted its holdings in shares of Visa by 11,691.3% in the 1st quarter. Aurora Private Wealth Inc. now owns 137,487 shares of the credit-card processor’s stock worth $48,184,000 after acquiring an additional 136,321 shares during the last quarter. Spire Wealth Management raised its position in Visa by 7.4% in the first quarter. Spire Wealth Management now owns 62,291 shares of the credit-card processor’s stock valued at $21,831,000 after purchasing an additional 4,292 shares during the period. waypoint wealth counsel lifted its stake in Visa by 30.7% during the first quarter. waypoint wealth counsel now owns 1,146 shares of the credit-card processor’s stock worth $402,000 after purchasing an additional 269 shares in the last quarter. Berkshire Money Management Inc. boosted its position in shares of Visa by 7.6% during the first quarter. Berkshire Money Management Inc. now owns 1,481 shares of the credit-card processor’s stock worth $519,000 after buying an additional 104 shares during the period. Finally, S.A. Mason LLC grew its stake in shares of Visa by 2.3% in the first quarter. S.A. Mason LLC now owns 4,810 shares of the credit-card processor’s stock valued at $1,686,000 after buying an additional 110 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 14,813 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $355.04, for a total transaction of $5,259,207.52. Following the completion of the sale, the insider now owns 26,413 shares in the company, valued at $9,377,671.52. This represents a 35.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm’s stock in a transaction 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 transaction, the general counsel now directly owns 11,925 shares in the company, valued at $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,098 shares of company stock valued at $36,738,526 over the last ninety days. Insiders own 0.13% of the company’s stock.

Visa Price Performance

Shares of NYSE V opened at $345.87 on Thursday. The stock’s 50-day simple moving average is $352.56 and its 200-day simple moving average is $339.31. The firm has a market capitalization of $638.19 billion, a PE ratio of 34.76, a price-to-earnings-growth ratio of 2.36 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 released its quarterly earnings data 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. The company 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 firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the company earned $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 business also recently declared 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 annualized dividend and a yield of 0.68%. Visa’s dividend payout ratio is currently 23.72%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on V shares. Mizuho raised Visa from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Barclays reiterated an “overweight” rating on shares of Visa in a research note on Friday, June 13th. UBS Group raised their price objective on shares of Visa from $395.00 to $405.00 and gave the company a “buy” rating in a research note on Wednesday, May 28th. Truist Financial started coverage on shares of Visa in a research note on Monday, June 2nd. They set a “buy” rating and a $400.00 target price on the stock. Finally, Susquehanna reissued a “positive” rating on shares of Visa in a research report on Friday, March 21st. Five equities research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $372.80.

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.