Alta Advisers Ltd Sells 2,280 Shares of Visa Inc. $V

Alta Advisers Ltd decreased its position in Visa Inc. (NYSE:V) by 25.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 6,632 shares of the credit-card processor’s stock after selling 2,280 shares during the quarter. Visa comprises approximately 0.8% of Alta Advisers Ltd’s portfolio, making the stock its 17th largest holding. Alta Advisers Ltd’s holdings in Visa were worth $2,326,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in V. Brighton Jones LLC boosted its holdings in shares of Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after buying an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after buying an additional 4,817 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its holdings in shares of Visa by 4.6% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock worth $3,834,000 after buying an additional 477 shares during the last quarter. Matrix Asset Advisors Inc. NY boosted its holdings in shares of Visa by 16.9% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock worth $402,000 after buying an additional 164 shares during the last quarter. Finally, Schnieders Capital Management LLC. boosted its holdings in shares of Visa by 13.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock worth $6,521,000 after buying an additional 2,230 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In related news, Director Lloyd Carney sold 650 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total value of $201,253.00. Following the transaction, the director directly owned 2,679 shares in the company, valued at approximately $829,471.98. This represents a 19.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Chris Suh sold 10,639 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the transaction, the chief financial officer owned 9,872 shares in the company, valued at approximately $3,206,524.32. This trade represents a 51.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 42,744 shares of company stock worth $14,356,010. Insiders own 0.12% of the company’s stock.

Visa Trading Down 0.5%

Shares of Visa stock opened at $327.17 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The company’s 50-day moving average price is $313.63 and its 200-day moving average price is $325.17. The company has a market cap of $586.87 billion, a price-to-earnings ratio of 28.50, a PEG ratio of 1.76 and a beta of 0.78. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $375.51.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.21. The company had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. Visa’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.76 earnings per share. On average, equities analysts expect that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa declared that its Board of Directors has approved a share repurchase plan on Tuesday, April 28th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Tuesday, May 12th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, May 12th. Visa’s dividend payout ratio is 23.34%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on V. Macquarie Infrastructure reissued an “outperform” rating and issued a $410.00 price target on shares of Visa in a report on Friday, January 30th. Loop Capital assumed coverage on shares of Visa in a report on Tuesday, March 31st. They set a “buy” rating and a $387.00 price objective on the stock. Piper Sandler set a $160.00 price objective on shares of Visa in a report on Wednesday, January 28th. TD Cowen reaffirmed a “buy” rating on shares of Visa in a report on Friday, January 30th. Finally, Daiwa Securities Group raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $370.00 price objective on the stock in a report on Monday, February 2nd. Six investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Visa presently has a consensus rating of “Buy” and an average price target of $386.70.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.