Visa Inc. (NYSE:V) Stock Position Lowered by Archer Investment Corp

by · The Markets Daily

Archer Investment Corp lessened its position in Visa Inc. (NYSE:V – Free Report) by 24.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,756 shares of the credit-card processor’s stock after selling 1,245 shares during the quarter. Archer Investment Corp’s holdings in Visa were worth $1,316,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Hirtle Callaghan & Co LLC lifted its holdings in shares of Visa by 1.3% in the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock worth $724,000 after buying an additional 29 shares in the last quarter. FWL Investment Management LLC lifted its holdings in shares of Visa by 0.5% in the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor’s stock worth $2,005,000 after buying an additional 29 shares in the last quarter. Yeomans Consulting Group Inc. lifted its holdings in shares of Visa by 2.9% in the first 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 in the last quarter. Capstone Financial Advisors Inc. increased its position in shares of Visa by 3.6% in the fourth quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor’s stock worth $276,000 after purchasing an additional 30 shares during the last quarter. Finally, Headinvest LLC raised its stake in Visa by 0.8% in the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor’s stock valued at $1,265,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the business’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. The trade was a 94.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the sale, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,108 shares of company stock worth $36,771,200 in the last three months. 0.13% of the stock is currently owned by company insiders.

Visa Stock Down 0.4%

Shares of NYSE:V traded down $1.41 on Friday, hitting $348.40. 1,065,213 shares of the company traded hands, compared to its average volume of 6,776,091. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The stock has a 50 day simple moving average of $356.90 and a 200-day simple moving average of $343.40. The company has a market cap of $642.85 billion, a PE ratio of 35.02, a PEG ratio of 2.37 and a beta of 0.92.

Visa (NYSE:V – Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period last year, the company earned $2.51 EPS. Visa’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets raised their target price on shares of Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Macquarie reduced their price target on shares of Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Susquehanna reiterated a “positive” rating on shares of Visa in a research report on Friday, March 21st. Jefferies Financial Group increased 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. Finally, UBS Group increased their price target on shares of Visa from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $375.52.

Check Out Our Latest Report on V

Visa 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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