Columbia Asset Management Sells 1,868 Shares of Visa Inc. (NYSE:V)

by · The Markets Daily

Columbia Asset Management decreased its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 3.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,423 shares of the credit-card processor’s stock after selling 1,868 shares during the period. Visa makes up approximately 3.7% of Columbia Asset Management’s holdings, making the stock its 4th largest position. Columbia Asset Management’s holdings in Visa were worth $19,073,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in V. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Visa during the 4th quarter worth approximately $27,000. POM Investment Strategies LLC raised its position in Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after acquiring an additional 32 shares in the last quarter. Compass Planning Associates Inc acquired a new stake in Visa in the fourth quarter valued at $32,000. FPC Investment Advisory Inc. boosted its position in shares of Visa by 377.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock worth $36,000 after purchasing an additional 83 shares in the last quarter. Finally, NewSquare Capital LLC purchased a new stake in shares of Visa during the 4th quarter worth $35,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

Several analysts recently commented on V shares. Piper Sandler raised their price objective on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. BMO Capital Markets increased their target price on shares of Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Truist Financial initiated coverage on Visa in a research note on Monday. They set a “buy” rating and a $400.00 price target on the stock. The Goldman Sachs Group initiated coverage on Visa in a research note on Monday. They issued a “neutral” rating for the company. Finally, Evercore ISI assumed coverage on Visa in a research report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 target price on the stock. Six research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus target price of $367.48.

View Our Latest Stock Report on Visa

Visa Price Performance

Visa stock opened at $368.04 on Thursday. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $371.75. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a 50 day moving average price of $344.66 and a 200 day moving average price of $334.72. The company has a market cap of $679.09 billion, a price-to-earnings ratio of 37.10, a PEG ratio of 2.33 and a beta of 0.96.

Visa (NYSE:V – Get Free Report) last announced its quarterly earnings data 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 company had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.51 EPS. Sell-side analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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

About Visa

(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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