Pine Haven Investment Counsel Inc Sells 75 Shares of Visa Inc. (NYSE:V)

Pine Haven Investment Counsel Inc cut its stake in Visa Inc. (NYSE:V) by 2.0% during the first quarter, HoldingsChannel reports. The fund owned 3,690 shares of the credit-card processor’s stock after selling 75 shares during the quarter. Visa comprises about 1.1% of Pine Haven Investment Counsel Inc’s holdings, making the stock its 26th largest position. Pine Haven Investment Counsel Inc’s holdings in Visa were worth $1,293,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Blue Rock Wealth Management LLC purchased a new stake in shares of Visa during the 4th quarter valued at $306,000. Aptus Capital Advisors LLC increased its position in Visa by 19.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock valued at $57,727,000 after buying an additional 30,185 shares in the last quarter. King Wealth Management Group raised its stake in Visa by 9.0% in the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock valued at $23,663,000 after buying an additional 6,172 shares during the last quarter. Eagle Strategies LLC boosted its holdings in Visa by 2.5% in the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock worth $811,000 after acquiring an additional 63 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Visa in the fourth quarter worth about $10,163,000. 82.15% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the 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 transaction, the chief executive officer now owns 537 shares in the company, valued at $188,186.28. This trade represents a 94.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction 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 directly owns 26,413 shares in the company, valued at $9,772,810. This represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,162 shares of company stock worth $58,645,479. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

V has been the topic of several recent analyst reports. The Goldman Sachs Group started coverage on shares of Visa in a report on Monday. They set a “neutral” rating on the stock. Wall Street Zen raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Truist Financial initiated coverage on shares of Visa in a research note on Monday, June 2nd. They set a “buy” rating and a $400.00 price target on the stock. Mizuho upgraded shares of Visa from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $359.00 to $425.00 in a research note on Thursday. Finally, Jefferies Financial Group boosted their price objective on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $372.80.

Visa Stock Up 1.0%

Shares of V stock opened at $370.44 on Friday. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $371.00. The stock has a market cap of $683.52 billion, a P/E ratio of 37.34, a P/E/G ratio of 2.33 and a beta of 0.96. The stock has a 50 day moving average of $345.45 and a 200 day moving average of $335.50. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The business had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter last year, the company earned $2.51 EPS. The business’s revenue was up 9.3% on a year-over-year basis. As a group, sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.64%. Visa’s payout ratio is 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.