ETF Managers Group LLC Sells 12,360 Shares of Visa Inc. (NYSE:V)

Posted by Defense World Staff on Jun 30th, 2023

ETF Managers Group LLC cut its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 8.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 132,782 shares of the credit-card processor’s stock after selling 12,360 shares during the quarter. Visa accounts for 1.0% of ETF Managers Group LLC’s holdings, making the stock its 28th largest position. ETF Managers Group LLC’s holdings in Visa were worth $29,937,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in V. Global Wealth Strategies & Associates acquired a new position in shares of Visa during the fourth quarter worth $26,000. JDM Financial Group LLC acquired a new position in shares of Visa during the fourth quarter worth $29,000. McElhenny Sheffield Capital Management LLC acquired a new position in shares of Visa during the fourth quarter worth $31,000. Financial Freedom LLC acquired a new position in shares of Visa during the fourth quarter worth $32,000. Finally, St. James Investment Advisors LLC lifted its holdings in shares of Visa by 58.7% during the fourth quarter. St. James Investment Advisors LLC now owns 219 shares of the credit-card processor’s stock worth $45,000 after purchasing an additional 81 shares during the period. 84.92% of the stock is owned by institutional investors.

Visa Trading Up 2.8 %

NYSE V opened at $234.33 on Friday. Visa Inc. has a 12 month low of $174.60 and a 12 month high of $235.57. The company’s 50-day moving average price is $228.24 and its 200-day moving average price is $223.64. The stock has a market cap of $438.98 billion, a PE ratio of 31.33, a PEG ratio of 1.74 and a beta of 0.97. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56.

Visa (NYSE:V – Free Report) last released its quarterly earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 EPS for the quarter, beating the consensus estimate of $1.97 by $0.12. The business had revenue of $7.99 billion during the quarter, compared to analyst estimates of $7.79 billion. Visa had a net margin of 50.95% and a return on equity of 50.21%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.79 earnings per share. Equities research analysts forecast that Visa Inc. will post 8.59 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 12th were issued a $0.45 dividend. The ex-dividend date was Thursday, May 11th. This represents a $1.80 annualized dividend and a yield of 0.77%. Visa’s dividend payout ratio (DPR) is presently 24.06%.

Insider Buying and Selling

In other news, CFO Vasant M. Prabhu sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $231.36, for a total transaction of $9,254,400.00. Following the sale, the chief financial officer now owns 73,638 shares of the company’s stock, valued at approximately $17,036,887.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Vasant M. Prabhu sold 13,343 shares of the business’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $234.26, for a total transaction of $3,125,731.18. Following the transaction, the chief financial officer now owns 73,638 shares of the company’s stock, valued at approximately $17,250,437.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Vasant M. Prabhu sold 40,000 shares of the company’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $231.36, for a total transaction of $9,254,400.00. Following the completion of the transaction, the chief financial officer now directly owns 73,638 shares in the company, valued at approximately $17,036,887.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 116,277 shares of company stock worth $27,018,374. 0.22% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on V shares. Citigroup boosted their target price on shares of Visa from $270.00 to $273.00 in a report on Wednesday, April 26th. Raymond James upped their price objective on shares of Visa from $281.00 to $282.00 in a report on Wednesday, April 26th. Truist Financial boosted their target price on shares of Visa from $260.00 to $270.00 in a research report on Wednesday, April 26th. Oppenheimer upped their price objective on shares of Visa from $237.00 to $248.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 19th. Finally, BMO Capital Markets upped their price objective on shares of Visa from $253.00 to $263.00 in a research report on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average target price of $260.08.

About Visa

(Free Report)

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.