Visa Inc. (NYSE:V) Shares Sold by Palisade Capital Management LP

Palisade Capital Management LP decreased its holdings in shares of Visa Inc. (NYSE:V) by 0.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,906 shares of the credit-card processor’s stock after selling 446 shares during the period. Palisade Capital Management LP’s holdings in Visa were worth $29,756,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Sovereign Investment Advisors LLC purchased a new position in shares of Visa in the fourth quarter valued at $424,000. Brighton Jones LLC grew its stake in Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after acquiring an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after acquiring an additional 4,817 shares during the last quarter. Leverage Partners Absolute Return Fund SPC purchased a new position in Visa during the 4th quarter valued at about $204,000. Finally, Bank Pictet & Cie Europe AG raised its position in Visa by 2.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 639,608 shares of the credit-card processor’s stock worth $202,142,000 after acquiring an additional 14,367 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction that occurred 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 directly owned 26,413 shares of the company’s stock, valued at $9,772,810. This trade represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,108 shares of company stock worth $36,771,200 over the last quarter. 0.13% of the stock is owned by corporate insiders.

Visa Trading Up 1.3%

NYSE V opened at $358.70 on Friday. The firm has a market capitalization of $661.86 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 2.43 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a one year low of $252.70 and a one year high of $375.51. The company’s 50 day moving average price is $355.79 and its 200 day moving average price is $341.46.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter last year, the firm posted $2.51 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio is presently 23.72%.

Wall Street Analyst Weigh In

Several analysts have recently commented on V shares. BMO Capital Markets increased their price target on shares of Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Piper Sandler raised their price target on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Jefferies Financial Group upped their price objective on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. The Goldman Sachs Group began coverage on Visa in a research note on Monday, June 2nd. They set a “neutral” rating on the stock. Finally, Susquehanna reissued a “positive” rating on shares of Visa in a research note on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued 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 $372.84.

Visa 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.