Visa Inc. (NYSE:V) Shares Sold by Prospect Financial Services LLC

by · The Cerbat Gem

Prospect Financial Services LLC trimmed its holdings in Visa Inc. (NYSE:V – Free Report) by 16.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,088 shares of the credit-card processor’s stock after selling 210 shares during the period. Prospect Financial Services LLC’s holdings in Visa were worth $381,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Visa in the 4th quarter valued at approximately $5,171,271,000. GAMMA Investing LLC grew its position in Visa by 38,416.3% in the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock worth $5,173,271,000 after acquiring an additional 14,723,050 shares during the period. Vanguard Group Inc. grew its position in Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares during the period. Raymond James Financial Inc. acquired a new stake in Visa during the fourth quarter worth $1,955,403,000. Finally, Proficio Capital Partners LLC raised its position in Visa by 17,018.7% in the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after purchasing an additional 3,926,049 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. The Goldman Sachs Group began coverage on Visa in a research note on Monday. They set a “neutral” rating for the company. Truist Financial started coverage on Visa in a report on Monday. They issued a “buy” rating and a $400.00 price objective for the company. Piper Sandler boosted their price target on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Oppenheimer reiterated an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Finally, Jefferies Financial Group lifted their price target on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $372.80.

Read Our Latest Analysis on Visa

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the transaction, the general counsel now owns 11,925 shares of the company’s stock, valued at $4,121,041.50. This trade represents a 17.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $340.41, for a total value of $13,395,133.50. Following the sale, the insider now directly owns 26,413 shares in the company, valued at approximately $8,991,249.33. This represents a 59.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 121,948 shares of company stock valued at $41,546,299 in the last ninety days. Insiders own 0.13% of the company’s stock.

Visa Stock Down 0.4%

Shares of NYSE V opened at $366.67 on Friday. The stock has a fifty day moving average price of $344.98 and a 200 day moving average price of $335.10. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $371.00. The company has a market cap of $676.56 billion, a P/E ratio of 36.96, a P/E/G ratio of 2.33 and a beta of 0.96.

Visa (NYSE:V – Get Free Report) last posted its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 54.79% and a net margin of 54.27%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.51 earnings per share. Research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.64%. Visa’s dividend payout ratio is currently 23.72%.

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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