Leeward Financial Partners LLC Trims Stock Holdings in Visa Inc. (NYSE:V)
by Renee Jackson · The Cerbat GemLeeward Financial Partners LLC reduced its holdings in Visa Inc. (NYSE:V – Free Report) by 6.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,180 shares of the credit-card processor’s stock after selling 979 shares during the quarter. Visa makes up 1.9% of Leeward Financial Partners LLC’s portfolio, making the stock its 21st biggest holding. Leeward Financial Partners LLC’s holdings in Visa were worth $4,969,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in V. von Borstel & Associates Inc. acquired a new position in Visa in the first quarter valued at $27,000. Measured Risk Portfolios Inc. acquired a new position in Visa in the fourth quarter valued at $47,000. Navigoe LLC acquired a new position in Visa in the fourth quarter valued at $53,000. O Brien Wealth Partners LLC acquired a new position in Visa in the first quarter valued at $54,000. Finally, Global X Japan Co. Ltd. acquired a new position in Visa in the first quarter valued at $56,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
V has been the subject of several analyst reports. The Goldman Sachs Group initiated coverage on Visa in a research note on Monday, June 2nd. They issued a “neutral” rating for the company. Macquarie upped their price target on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 price target for the company. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Finally, BMO Capital Markets upped their price target on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $380.84.
Visa Trading Down 1.4%
Shares of V opened at $337.21 on Wednesday. The company has a market capitalization of $622.21 billion, a P/E ratio of 32.93, a P/E/G ratio of 2.28 and a beta of 0.94. Visa Inc. has a one year low of $255.77 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a 50-day moving average price of $354.38 and a 200 day moving average price of $346.84.
Visa (NYSE:V – Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%. Visa’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.42 earnings per share. Sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be given a $0.59 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa’s dividend payout ratio (DPR) is presently 23.05%.
Insider Activity at Visa
In other news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider owned 26,413 shares of the company’s stock, valued at approximately $9,772,810. The trade was a 63.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,913 shares of company stock valued at $32,902,432. Insiders own 0.13% of the company’s stock.
About Visa
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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