McAdam LLC Sells 241 Shares of Visa Inc. (NYSE:V)

Posted by Defense World Staff on Apr 10th, 2023

McAdam LLC decreased its position in Visa Inc. (NYSE:V – Get Rating) by 17.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,174 shares of the credit-card processor’s stock after selling 241 shares during the period. McAdam LLC’s holdings in Visa were worth $254,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Wealth Strategies & Associates purchased a new stake in shares of Visa during the 4th quarter worth approximately $26,000. JDM Financial Group LLC purchased a new position in shares of Visa during the 4th quarter valued at $29,000. McClarren Financial Advisors Inc. purchased a new stake in Visa during the third quarter valued at about $26,000. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Visa in the fourth quarter valued at approximately $31,000. Finally, Cowa LLC bought a new position in Visa in the 3rd quarter worth approximately $29,000. Hedge funds and other institutional investors own 81.87% of the company’s stock.

Visa Stock Down 1.0 %

V stock opened at $225.99 on Monday. 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 stock has a market capitalization of $425.09 billion, a P/E ratio of 31.61, a P/E/G ratio of 1.77 and a beta of 0.96. The business has a fifty day moving average price of $223.74 and a 200-day moving average price of $211.12.

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

Visa Increases Dividend

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

Insider Transactions at Visa

In other news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the business’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $223.99, for a total transaction of $12,991,420.00. Following the completion of the sale, the chairman now owns 162,354 shares of the company’s stock, valued at approximately $36,365,672.46. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Visa news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 162,354 shares in the company, valued at $36,365,672.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 13,394 shares of the firm’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $219.00, for a total transaction of $2,933,286.00. Following the sale, the general counsel now owns 4,583 shares in the company, valued at $1,003,677. The disclosure for this sale can be found here. Insiders have sold 133,115 shares of company stock worth $30,115,598 in the last quarter. Company insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Mizuho lifted their price target on Visa from $220.00 to $240.00 and gave the company a “neutral” rating in a research report on Monday, January 30th. Wolfe Research upped their price target on shares of Visa from $240.00 to $255.00 in a report on Thursday, January 5th. Credit Suisse Group boosted their target price on Visa from $245.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, January 27th. Truist Financial upped their price objective on shares of Visa from $235.00 to $260.00 in a research report on Friday, January 20th. Finally, Morgan Stanley raised their price objective on shares of Visa from $284.00 to $288.00 and gave the company an “overweight” rating in a research report on Friday, January 27th. One equities research 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $259.11.

About Visa

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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).