Visa Inc. $V Shares Sold by Sei Investments Co.

Sei Investments Co. reduced its stake in shares of Visa Inc. (NYSE:V) by 0.2% during the 1st quarter, HoldingsChannel reports. The fund owned 1,846,896 shares of the credit-card processor’s stock after selling 3,224 shares during the period. Visa accounts for 0.5% of Sei Investments Co.’s portfolio, making the stock its 28th largest position. Sei Investments Co.’s holdings in Visa were worth $558,205,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Clayton Financial Group LLC raised its stake in Visa by 446.2% during the fourth quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock worth $25,000 after purchasing an additional 58 shares during the period. PayPay Securities Corp grew its stake in shares of Visa by 102.7% during the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after buying an additional 38 shares during the period. Cresta Advisors Ltd. purchased a new stake in shares of Visa during the 4th quarter valued at $26,000. Parvin Asset Management LLC increased its holdings in shares of Visa by 200.0% during the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after buying an additional 50 shares during the last quarter. Finally, Dorato Capital Management acquired a new stake in shares of Visa during the 4th quarter worth $30,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Down 0.8%

Shares of Visa stock opened at $353.10 on Thursday. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $365.14. The stock has a market cap of $633.38 billion, a price-to-earnings ratio of 30.76, a price-to-earnings-growth ratio of 1.89 and a beta of 0.75. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The company has a fifty day moving average price of $336.39 and a 200 day moving average price of $325.10.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, beating the consensus estimate of $3.10 by $0.21. The company had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The firm’s revenue was up 17.1% compared to the same quarter last year. During the same period last year, the company posted $2.76 earnings per share. Equities research analysts forecast that Visa Inc. will post 13.13 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 1st. Investors of record on Tuesday, May 12th were issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, May 12th. Visa’s dividend payout ratio (DPR) is presently 23.34%.

Visa announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, April 28th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently weighed in on V shares. Clear Str upgraded Visa to a “strong-buy” rating in a report on Thursday, July 16th. Truist Financial set a $371.00 price target on Visa and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Citigroup cut their price objective on Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $387.00 price objective (up from $375.00) on shares of Visa in a research note on Wednesday, July 15th. Finally, Robert W. Baird set a $412.00 target price on Visa and gave the stock an “outperform” rating in a report on Monday, July 6th. Eight equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $398.36.

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total value of $729,720.00. Following the completion of the sale, the general counsel owned 18,404 shares of the company’s stock, valued at $6,625,440. This trade represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 10,490 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $343.99, for a total transaction of $3,608,455.10. Following the transaction, the chief executive officer directly owned 15,174 shares in the company, valued at approximately $5,219,704.26. The trade was a 40.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 75,581 shares of company stock worth $25,627,975. 0.12% of the stock is currently owned by company insiders.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.