Visa Inc. (NYSE:V) Shares Sold by Main Street Group LTD

Main Street Group LTD trimmed its stake in shares of Visa Inc. (NYSE:V) by 6.6% in the fourth quarter, Holdings Channel reports. The fund owned 2,330 shares of the credit-card processor’s stock after selling 165 shares during the period. Main Street Group LTD’s holdings in Visa were worth $736,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Hirtle Callaghan & Co LLC boosted its holdings in Visa by 1.3% during the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock worth $724,000 after buying an additional 29 shares in the last quarter. FWL Investment Management LLC increased its holdings in shares of Visa by 0.5% in the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor’s stock valued at $2,005,000 after purchasing an additional 29 shares during the period. Elevation Wealth Partners LLC increased its stake in shares of Visa by 3.3% in the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock worth $297,000 after acquiring an additional 30 shares during the last quarter. Warther Private Wealth LLC lifted its stake in Visa by 1.0% in the fourth quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock valued at $928,000 after acquiring an additional 30 shares during the last quarter. Finally, Valmark Advisers Inc. raised its holdings in Visa by 0.4% during the fourth quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock valued at $2,292,000 after buying an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.1%

Shares of V stock opened at $356.13 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $366.54. The company has a market cap of $661.61 billion, a price-to-earnings ratio of 35.90, a PEG ratio of 2.33 and a beta of 0.96. The stock has a 50 day simple moving average of $337.30 and a 200-day simple moving average of $328.04.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.51 EPS. On average, equities research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.66%. Visa’s payout ratio is 23.72%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on V shares. UBS Group dropped their price target on Visa from $400.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Bank of America lifted their price objective on Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a report on Friday, January 31st. The Goldman Sachs Group lifted their price objective on Visa from $346.00 to $384.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Macquarie dropped their price objective on shares of Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Finally, StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Monday. Six equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $362.38.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the completion of the transaction, the chief executive officer now directly owns 537 shares of the company’s stock, valued at $194,931. This trade represents a 94.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul D. Fabara sold 14,813 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $9,377,671.52. This represents a 35.93% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 121,948 shares of company stock valued at $41,548,282. Insiders own 0.13% of the company’s stock.

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.