PPS&V Asset Management Consultants Inc. cut its holdings in Visa Inc. (NYSE:V – Free Report) by 4.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,824 shares of the credit-card processor’s stock after selling 84 shares during the period. Visa accounts for 0.4% of PPS&V Asset Management Consultants Inc.’s holdings, making the stock its 27th biggest holding. PPS&V Asset Management Consultants Inc.’s holdings in Visa were worth $411,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Keudell Morrison Wealth Management grew its position in shares of Visa by 0.4% during the 1st quarter. Keudell Morrison Wealth Management now owns 11,761 shares of the credit-card processor’s stock worth $2,652,000 after buying an additional 43 shares in the last quarter. Successful Portfolios LLC boosted its position in Visa by 3.6% during the first quarter. Successful Portfolios LLC now owns 1,232 shares of the credit-card processor’s stock valued at $278,000 after purchasing an additional 43 shares in the last quarter. Auxano Advisors LLC boosted its position in Visa by 0.3% during the fourth quarter. Auxano Advisors LLC now owns 14,206 shares of the credit-card processor’s stock valued at $2,951,000 after purchasing an additional 45 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in Visa by 1.6% during the first quarter. Wedge Capital Management L L P NC now owns 2,914 shares of the credit-card processor’s stock valued at $657,000 after purchasing an additional 45 shares in the last quarter. Finally, Domani Wealth LLC boosted its position in Visa by 2.7% during the fourth quarter. Domani Wealth LLC now owns 1,729 shares of the credit-card processor’s stock valued at $359,000 after purchasing an additional 46 shares in the last quarter. 84.92% of the stock is owned by hedge funds and other institutional investors.
Visa Trading Down 1.0 %
Shares of NYSE:V opened at $236.45 on Monday. The stock has a market cap of $442.95 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 1.81 and a beta of 0.97. Visa Inc. has a 52-week low of $174.60 and a 52-week high of $240.00. The business has a 50-day moving average price of $229.08 and a 200-day moving average price of $225.06. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56.
Visa Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 12th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, May 11th. Visa’s dividend payout ratio (DPR) is 24.06%.
Insider Buying and Selling
In related news, CEO Ryan Mcinerney sold 24,025 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total transaction of $5,766,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Visa news, CFO Vasant M. Prabhu sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $231.36, for a total value of $9,254,400.00. Following the sale, the chief financial officer now directly owns 73,638 shares of the company’s stock, valued at $17,036,887.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 24,025 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total value of $5,766,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 142,602 shares of company stock valued at $33,336,374 over the last ninety days. Company insiders own 0.21% of the company’s stock.
Analysts Set New Price Targets
V has been the topic of a number of recent research reports. Royal Bank of Canada raised their price objective on Visa from $262.00 to $265.00 in a research report on Wednesday, April 26th. 22nd Century Group reaffirmed a “maintains” rating on shares of Visa in a research report on Wednesday, April 26th. KeyCorp raised their price objective on Visa from $250.00 to $260.00 in a research report on Monday, April 24th. Oppenheimer increased their price target on Visa from $237.00 to $248.00 and gave the company an “outperform” rating in a research note on Wednesday, April 19th. Finally, Barclays increased their price target on Visa from $270.00 to $272.00 in a research note on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target of $262.52.
Visa Profile
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.
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