International Assets Investment Management LLC Sells 6,219 Shares of Visa Inc. $V

International Assets Investment Management LLC lessened its stake in shares of Visa Inc. (NYSE:V) by 15.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,530 shares of the credit-card processor’s stock after selling 6,219 shares during the quarter. International Assets Investment Management LLC’s holdings in Visa were worth $10,009,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ransom Advisory Ltd grew its holdings in Visa by 0.3% in the 4th quarter. Ransom Advisory Ltd now owns 9,447 shares of the credit-card processor’s stock worth $3,313,000 after acquiring an additional 30 shares during the last quarter. FOCUS Wealth Advisors LLC raised its stake in shares of Visa by 0.4% during the fourth quarter. FOCUS Wealth Advisors LLC now owns 7,710 shares of the credit-card processor’s stock valued at $2,704,000 after acquiring an additional 31 shares during the last quarter. Planned Solutions Inc. boosted its holdings in shares of Visa by 2.0% during the fourth quarter. Planned Solutions Inc. now owns 1,598 shares of the credit-card processor’s stock worth $560,000 after purchasing an additional 31 shares during the period. Frederick Financial Consultants LLC grew its stake in shares of Visa by 2.0% in the fourth quarter. Frederick Financial Consultants LLC now owns 1,598 shares of the credit-card processor’s stock worth $560,000 after purchasing an additional 31 shares during the last quarter. Finally, Brass Tax Wealth Management Inc. increased its holdings in Visa by 1.3% during the 3rd quarter. Brass Tax Wealth Management Inc. now owns 2,514 shares of the credit-card processor’s stock valued at $858,000 after purchasing an additional 32 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.0%

NYSE:V opened at $349.05 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09. The firm’s 50-day moving average price is $330.81 and its 200-day moving average price is $324.86. The company has a market capitalization of $626.12 billion, a PE ratio of 30.41, a P/E/G ratio of 1.86 and a beta of 0.75. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $365.02.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The company had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. During the same period last year, the company posted $2.76 EPS. Visa’s revenue was up 17.1% on a year-over-year basis. On average, equities analysts predict that Visa Inc. will post 13.1 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders 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 declared that its board has initiated a stock repurchase program on Tuesday, April 28th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the credit-card processor to buy up to 3.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

V has been the subject of several research analyst reports. BMO Capital Markets initiated coverage on Visa in a report on Tuesday, April 21st. They issued an “outperform” rating and a $365.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 target price on shares of Visa in a report on Wednesday, April 29th. Piper Sandler began coverage on Visa in a research note on Monday, June 29th. They issued an “overweight” rating and a $394.00 price target for the company. Truist Financial set a $371.00 price objective on shares of Visa and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, Loop Capital initiated coverage on shares of Visa in a research report on Tuesday, March 31st. They issued a “buy” rating and a $387.00 target price for the company. Seven investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Visa currently has an average rating of “Buy” and a consensus price target of $397.91.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 10,490 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $343.99, for a total value of $3,608,455.10. Following the sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at $5,219,704.26. The trade was a 40.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total value of $3,455,653.59. Following the completion of the sale, the chief financial officer owned 9,872 shares in the company, valued at $3,206,524.32. The trade was a 51.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 75,581 shares of company stock valued at $25,627,975 in the last ninety days. 0.12% of the stock is currently owned by corporate insiders.

Visa 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.