Evergreen Wealth Management LLC Sells 370 Shares of Visa Inc. (NYSE:V)

by · The Cerbat Gem

Evergreen Wealth Management LLC trimmed its stake in shares of Visa Inc. (NYSE:V – Free Report) by 3.4% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 10,393 shares of the credit-card processor’s stock after selling 370 shares during the quarter. Visa comprises about 2.2% of Evergreen Wealth Management LLC’s portfolio, making the stock its 17th biggest holding. Evergreen Wealth Management LLC’s holdings in Visa were worth $3,642,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of V. Yeomans Consulting Group Inc. lifted its position in shares of Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock worth $360,000 after buying an additional 29 shares during the last quarter. Ring Mountain Capital LLC increased its holdings in Visa by 10.5% in the 1st quarter. Ring Mountain Capital LLC now owns 1,657 shares of the credit-card processor’s stock worth $581,000 after purchasing an additional 158 shares in the last quarter. Creekmur Asset Management LLC increased its holdings in Visa by 375.0% in the 1st quarter. Creekmur Asset Management LLC now owns 3,558 shares of the credit-card processor’s stock worth $1,247,000 after purchasing an additional 2,809 shares in the last quarter. Carson Advisory Inc. acquired a new position in Visa in the 1st quarter worth about $242,000. Finally, Hardy Reed LLC increased its holdings in Visa by 0.6% in the 1st quarter. Hardy Reed LLC now owns 14,077 shares of the credit-card processor’s stock worth $4,933,000 after purchasing an additional 82 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Price Performance

Shares of Visa stock traded down $1.38 during trading on Friday, reaching $348.43. 984,588 shares of the stock traded hands, compared to its average volume of 6,776,008. The company has a market capitalization of $642.91 billion, a price-to-earnings ratio of 35.00, a P/E/G ratio of 2.37 and a beta of 0.92. The business has a fifty day simple moving average of $356.90 and a two-hundred day simple moving average of $343.40. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51.

Visa (NYSE:V – Get Free Report) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.51 earnings per share. Sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Tuesday, May 13th. Visa’s payout ratio is 23.72%.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the sale, the insider directly owned 26,413 shares in the company, valued at $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,108 shares of company stock valued at $36,771,200. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of several recent research reports. Macquarie decreased their price target on Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. UBS Group increased their price target on Visa from $395.00 to $405.00 and gave the company a “buy” rating in a research note on Wednesday, May 28th. The Goldman Sachs Group initiated coverage on Visa in a research note on Monday, June 2nd. They issued a “neutral” rating for the company. Oppenheimer raised their target price on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Finally, Barclays reaffirmed an “overweight” rating on shares of Visa in a research note on Friday, June 13th. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $375.52.

Get Our Latest Stock Report on V

Visa Company Profile

(Free Report)

Visa Inc operates as a payment technology company in the United States and internationally. 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, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; 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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