Farmers & Merchants Investments Inc. reduced its position in Visa Inc. (NYSE:V – Get Rating) stock by 2.9% during the 1st quarter, according to the company in its latest 13F filing with the SEC. The institutional investor held 73,226 shares of the credit card processor after selling 2,183 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Visa were worth $16,239,000 at the end of the last quarter.
A number of other institutional investors have also recently bought and sold shares of the company. Alhambra Investment Partners LLC increased its position in Visa by 1.0% in the 1st quarter. Alhambra Investment Partners LLC now owns 5,273 shares of the credit card processor valued at $1,169,000 after acquiring 52 additional shares last quarter. Relyea Zuckerberg Hanson LLC increased its position in Visa shares by 21.4% in the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 3,629 shares of the credit card processor worth $774,000 after buying an additional 640 shares last quarter. Cross Staff Investments Inc increased its position in Visa shares by 0.7% in the 1st quarter. Cross Staff Investments Inc now owns 6,801 shares of the credit card processor worth $1,508,000 after buying 47 more shares in the last quarter. Alta Capital Management LLC increased its position in Visa shares by 5.1% in the 1st quarter. Alta Capital Management LLC now owns 221,177 shares of the credit card processor worth $49,050,000 after buying 10,750 additional shares in the last quarter. Finally, Avity Investment Management Inc. increased its position in Visa shares by 0.4% in the 1st quarter. Avity Investment Management Inc. now owns 198,321 shares of the credit card processor worth $43,982,000 after buying 827 additional shares in the last quarter. 80.77% of the shares are currently held by institutional investors and hedge funds.
In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the company in a trade Thursday, June 30. The shares were sold at an average price of $195.37, for a total value of $1,758,330.00. Following completion of the transaction, the CEO now owns 159,887 shares of the company, valued at approximately $31,237,123.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 27,000 shares of the company valued at $5,619,330 in the past ninety days. 0.21% of the shares are currently held by insiders.
A number of analysts have recently commented on V shares. Credit Suisse Group raised its price target on Visa from $260.00 to $265.00 and gave the stock an “outperform” rating in a Wednesday, April 27 research report. Piper Sandler downgraded Visa from an “overweight” rating to a “neutral” rating and lowered its price target for the stock from $283.00 to $239.00 in a Friday, April 29 research report. Morgan Stanley raised its price target on Visa from $279.00 to $284.00 in a Wednesday, April 27 research report. Evercore ISI raised its price target on Visa shares from $304.00 to $310.00 and gave the stock an “outperform” rating in a Wednesday, April 27 report. Finally, Cowen cut its price target on Visa shares from $276.00 to $254.00 in a Wednesday, April 27 report. Five analysts gave the stock a hold rating and twenty-one gave the company a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $266.24.
Shares of Stock V opened at $199.18 on Friday. Visa Inc. has a 1 year minimum of $185.91 and a 1 year maximum of $252.67. The company has a fifty-day moving average price of $203.19 and a 200-day moving average price of $211.78. The company has a debt ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market capitalization of $378.70 billion, a price-earnings ratio of 31.32, a PEG ratio of 1.75 and a beta of 0.90.
Visa (NYSE:V – Get Rating) last released its quarterly earnings data on Tuesday, April 26. The credit card processor reported earnings per share (EPS) of $1.79 for the quarter, beating consensus analyst estimates of $1.65 by $0.14. Visa had a net margin of 51.10% and a return on equity of 42.89%. The company posted revenue of $7.19 billion in the quarter, versus a consensus estimate of $6.82 billion. In the same quarter a year earlier, the company posted EPS of $1.38. The company’s revenue for the quarter increased by 25.5% compared to the same quarter last year. Equity research analysts expect Visa Inc. to post EPS of 7.16 for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 1. Investors of record on Friday, May 13 received a dividend of $0.375. This represents an annualized dividend of $1.50 and a yield of 0.75%. The ex-dividend date was Thursday, May 12. Visa’s dividend payout ratio is currently 23.58%.
Visa Company Profile (Get an evaluation)
Visa Inc operates as a worldwide payment technology company. The company facilitates digital payments between consumers, merchants, financial institutions, businesses, strategic partners and government entities. It operates VisaNet, a transaction processing network that enables the authorization, clearing and settlement of payment transactions.
Receive news and reviews for Visa Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Visa and related companies with MarketBeat.com’s free daily email newsletter.