Dock Street Asset Management Inc. Reduces Holdings in Visa Inc. $V

Dock Street Asset Management Inc. cut its stake in shares of Visa Inc. (NYSE:V) by 4.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 148,829 shares of the credit-card processor’s stock after selling 7,367 shares during the quarter. Visa makes up approximately 4.7% of Dock Street Asset Management Inc.’s holdings, making the stock its 6th biggest holding. Dock Street Asset Management Inc.’s holdings in Visa were worth $44,982,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Greenup Street Wealth Management LLC grew its position in shares of Visa by 15.4% during the 1st quarter. Greenup Street Wealth Management LLC now owns 11,718 shares of the credit-card processor’s stock worth $3,542,000 after buying an additional 1,562 shares in the last quarter. BTC Capital Management Inc. raised its holdings in shares of Visa by 62.9% in the first quarter. BTC Capital Management Inc. now owns 6,501 shares of the credit-card processor’s stock valued at $1,964,000 after acquiring an additional 2,511 shares in the last quarter. Live Oak Private Wealth LLC lifted its stake in Visa by 2.7% in the first quarter. Live Oak Private Wealth LLC now owns 28,514 shares of the credit-card processor’s stock worth $8,618,000 after acquiring an additional 746 shares during the period. RFG Advisory LLC lifted its stake in Visa by 12.8% in the first quarter. RFG Advisory LLC now owns 17,345 shares of the credit-card processor’s stock worth $5,242,000 after acquiring an additional 1,968 shares during the period. Finally, Fifth Third Wealth Advisors LLC grew its holdings in Visa by 22.2% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 54,188 shares of the credit-card processor’s stock worth $16,378,000 after acquiring an additional 9,836 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 31,455 shares of the stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the sale, the chief executive officer directly owned 15,174 shares in the company, valued at approximately $5,161,284.36. This trade represents a 67.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 business’s stock in a transaction dated 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 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. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is currently owned by insiders.

Trending Headlines about Visa

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Visa launched Visa Destinations, a global travel platform now live in 10 major markets, designed to engage cardholders earlier in the travel journey and deepen use of Visa’s network through curated experiences and exclusive access. Visa Redefines Its Role in Travel With the Global Launch of Visa Destinations
• Positive Sentiment: Visa expanded Visa Cloud Connect with Mintoak and Thredd in Asia Pacific, which could help fintechs and banks issue cards faster and broaden Visa’s reach in merchant SaaS and cloud-based issuing. Visa (V), Mintoak Partner to Expand Merchant SaaS Offerings Across Asia Pacific
• Positive Sentiment: Analysts are highlighting Visa’s new travel push and international expansion efforts as potential future growth drivers, reinforcing the view that Visa can keep monetizing cross-border spending and travel-related activity. Can Visa’s New Travel Play Become Its Next Growth Driver?
• Neutral Sentiment: Several recent write-ups on Visa’s travel and partner initiatives are largely descriptive, but they underscore investor focus on whether these new products can meaningfully add to growth over time. Visa Explores Travel Planning Space With Visa Destinations
• Neutral Sentiment: One opinion piece argued Visa could be vulnerable to payment disruption, but it did not include new fundamental data and appears to be more of a long-term risk discussion than a near-term catalyst. Visa: May Be Next On The Disruption Hit List

Visa Stock Performance

V stock opened at $336.96 on Friday. The firm has a market cap of $604.43 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 1.77 and a beta of 0.77. The firm has a 50-day simple moving average of $323.36 and a two-hundred day simple moving average of $324.30. Visa Inc. has a one year low of $293.89 and a one year high of $359.66. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. The firm had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.76 EPS. On average, equities analysts forecast that Visa Inc. will post 13.09 EPS for the current fiscal year.

Visa announced that its board has approved a stock buyback program on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, May 12th. Visa’s dividend payout ratio (DPR) is 23.34%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on V shares. Bank of America initiated coverage on shares of Visa in a report on Thursday, March 5th. They issued a “buy” rating and a $410.00 price target for the company. Oppenheimer reiterated an “outperform” rating and set a $403.00 price objective (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. Citigroup cut their price objective on shares of Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Weiss Ratings downgraded shares of Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, April 16th. Finally, Loop Capital initiated coverage on Visa in a report on Tuesday, March 31st. They set a “buy” rating and a $387.00 target price for the company. Six analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $387.78.

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.