Alta Capital Management LLC Trims Stock Position in Visa Inc. (NYSE:V)

Posted by Defense World Staff on Apr 9th, 2023

Alta Capital Management LLC decreased its holdings in shares of Visa Inc. (NYSE:V – Get Rating) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 175,583 shares of the credit-card processor’s stock after selling 4,231 shares during the quarter. Visa comprises 2.8% of Alta Capital Management LLC’s holdings, making the stock its 14th largest holding. Alta Capital Management LLC’s holdings in Visa were worth $36,479,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates acquired a new position in shares of Visa in the 4th quarter worth approximately $26,000. JDM Financial Group LLC purchased a new stake in Visa in the fourth quarter valued at approximately $29,000. McClarren Financial Advisors Inc. acquired a new position in Visa during the third quarter worth $26,000. McElhenny Sheffield Capital Management LLC purchased a new position in shares of Visa during the fourth quarter worth $31,000. Finally, Cowa LLC acquired a new stake in shares of Visa in the third quarter valued at $29,000. Hedge funds and other institutional investors own 81.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on V. Robert W. Baird raised their target price on Visa from $250.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, January 19th. Wolfe Research raised their price objective on shares of Visa from $240.00 to $255.00 in a research note on Thursday, January 5th. Barclays upped their target price on shares of Visa from $266.00 to $270.00 and gave the stock an “overweight” rating in a research note on Sunday, January 29th. Jefferies Financial Group raised their price target on shares of Visa from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, January 18th. Finally, BMO Capital Markets upped their price objective on Visa from $249.00 to $253.00 and gave the stock an “outperform” rating in a research report on Friday, January 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $259.11.

Visa Stock Performance

NYSE V opened at $225.99 on Friday. The company has a fifty day moving average of $223.74 and a two-hundred day moving average of $210.95. The company has a market capitalization of $425.09 billion, a PE ratio of 31.61, a P/E/G ratio of 1.77 and a beta of 0.96. Visa Inc. has a 1 year low of $174.60 and a 1 year high of $234.30. 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 (NYSE:V – Get Rating) last announced its earnings results on Thursday, January 26th. The credit-card processor reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.17. The firm had revenue of $7.90 billion during the quarter, compared to analysts’ expectations of $7.70 billion. Visa had a return on equity of 49.95% and a net margin of 50.28%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.81 EPS. As a group, analysts expect that Visa Inc. will post 8.43 earnings per share for the current year.

Visa Increases Dividend

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

Insider Activity at Visa

In other Visa news, President Ryan Mcinerney sold 58,197 shares of the firm’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $62.47, for a total transaction of $3,635,566.59. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, General Counsel Julie B. Rottenberg sold 13,394 shares of the business’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $219.00, for a total value of $2,933,286.00. Following the transaction, the general counsel now owns 4,583 shares of the company’s stock, valued at $1,003,677. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Ryan Mcinerney sold 58,197 shares of the stock in a transaction on Monday, January 9th. The stock was sold at an average price of $62.47, for a total value of $3,635,566.59. The disclosure for this sale can be found here. Insiders sold a total of 191,312 shares of company stock worth $33,751,165 in the last 90 days. 0.22% of the stock is owned by insiders.

Visa 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).