HMS Capital Management LLC Reduces Stake in Visa Inc. (NYSE:V)

Posted by Defense World Staff on Apr 2nd, 2023

HMS Capital Management LLC reduced its stake in Visa Inc. (NYSE:V – Get Rating) by 43.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 986 shares of the credit-card processor’s stock after selling 743 shares during the quarter. HMS Capital Management LLC’s holdings in Visa were worth $205,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Domani Wealth LLC grew its holdings in Visa by 2.7% in the 4th quarter. Domani Wealth LLC now owns 1,729 shares of the credit-card processor’s stock valued at $359,000 after buying an additional 46 shares in the last quarter. Copperleaf Capital LLC lifted its stake in shares of Visa by 0.6% in the 2nd quarter. Copperleaf Capital LLC now owns 7,968 shares of the credit-card processor’s stock valued at $1,569,000 after purchasing an additional 49 shares during the last quarter. CNB Bank lifted its stake in shares of Visa by 0.8% in the 2nd quarter. CNB Bank now owns 6,338 shares of the credit-card processor’s stock valued at $1,248,000 after purchasing an additional 49 shares during the last quarter. S.C. Financial Services Inc. lifted its stake in shares of Visa by 2.3% in the 4th quarter. S.C. Financial Services Inc. now owns 2,140 shares of the credit-card processor’s stock valued at $445,000 after purchasing an additional 49 shares during the last quarter. Finally, Eads & Heald Wealth Management lifted its stake in shares of Visa by 0.4% in the 3rd quarter. Eads & Heald Wealth Management now owns 12,641 shares of the credit-card processor’s stock valued at $2,246,000 after purchasing an additional 50 shares during the last quarter. 81.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, President Ryan Mcinerney sold 58,197 shares of the stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $62.47, for a total value of $3,635,566.59. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, President Ryan Mcinerney sold 58,197 shares of the stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $62.47, for a total value of $3,635,566.59. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $223.99, for a total value of $12,991,420.00. Following the completion of the transaction, the chairman now owns 162,354 shares in the company, valued at approximately $36,365,672.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,312 shares of company stock worth $33,751,165. 0.22% of the stock is currently owned by insiders.

Analyst Ratings Changes

V has been the topic of several recent analyst reports. Jefferies Financial Group upped their price target on Visa from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, January 18th. Credit Suisse Group upped their price target on Visa from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, January 27th. Raymond James upped their price target on Visa from $261.00 to $281.00 and gave the company an “outperform” rating in a research note on Friday, January 27th. Mizuho upped their price target on Visa from $220.00 to $240.00 and gave the company a “neutral” rating in a research note on Monday, January 30th. Finally, Morgan Stanley upped their price target on Visa from $284.00 to $288.00 and gave the company an “overweight” rating in a research note on Friday, January 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $259.11.

Visa Price Performance

Shares of NYSE V opened at $225.46 on Friday. The stock’s 50-day moving average is $223.58 and its two-hundred day moving average is $209.81. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44. Visa Inc. has a 1-year low of $174.60 and a 1-year high of $234.30. The company has a market cap of $424.09 billion, a price-to-earnings ratio of 31.53, a price-to-earnings-growth ratio of 1.74 and a beta of 0.97.

Visa (NYSE:V – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The credit-card processor reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.17. Visa had a return on equity of 49.95% and a net margin of 50.28%. The company had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.70 billion. During the same quarter in the prior year, the business earned $1.81 EPS. Visa’s revenue was up 11.9% on a year-over-year basis. Analysts forecast that Visa Inc. will post 8.43 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Friday, February 10th were issued a $0.45 dividend. The ex-dividend date was Thursday, February 9th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.80%. This is an increase from Visa’s previous quarterly dividend of $0.40. Visa’s dividend payout ratio is presently 25.17%.

Visa Company Profile

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Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).