Visa Inc. (NYSE:V) Shares Sold by JCIC Asset Management Inc.

JCIC Asset Management Inc. cut its stake in Visa Inc. (NYSE:V) by 1.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,406 shares of the credit-card processor’s stock after selling 412 shares during the quarter. Visa comprises approximately 3.9% of JCIC Asset Management Inc.’s investment portfolio, making the stock its 7th biggest position. JCIC Asset Management Inc.’s holdings in Visa were worth $9,254,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Visa during the fourth quarter worth $5,171,271,000. GAMMA Investing LLC increased its stake in Visa by 38,416.3% during the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock worth $5,173,271,000 after acquiring an additional 14,723,050 shares during the last quarter. Vanguard Group Inc. increased its stake in Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Visa during the fourth quarter worth $1,955,403,000. Finally, Proficio Capital Partners LLC increased its stake in 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 worth $1,248,079,000 after acquiring an additional 3,926,049 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the completion of the sale, the chief executive officer now directly owns 537 shares of the company’s stock, valued at $185,576.46. The trade was a 94.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 11,636 shares of the business’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider now directly owns 26,413 shares of the company’s stock, valued at $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,098 shares of company stock valued at $36,738,526 in the last three months. 0.13% of the stock is owned by corporate insiders.

Visa Trading Down 1.6%

V opened at $345.87 on Thursday. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. The stock has a market capitalization of $638.19 billion, a price-to-earnings ratio of 34.76, a PEG ratio of 2.36 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The business has a fifty day moving average price of $352.56 and a 200 day moving average price of $339.31.

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

Visa Announces Dividend

The business 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 of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.68%. Visa’s payout ratio is 23.72%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. William Blair reissued an “outperform” rating on shares of Visa in a research note on Wednesday, April 30th. Truist Financial assumed coverage on Visa in a research note on Monday, June 2nd. They set a “buy” rating and a $400.00 target price for the company. BMO Capital Markets raised their target price on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Jefferies Financial Group raised their target price on Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research note on Tuesday, May 27th. Finally, Piper Sandler raised their target price on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa 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.