Howard Financial Services LTD. cut its holdings in Visa Inc. (NYSE:V – Get Rating) by 27.1% in the 1st quarter, reports HoldingsChannel. The company held 1,331 shares of the credit card processor after selling 496 shares during the quarter. The holdings of Howard Financial Services LTD. in Visa were worth $295,000 when it was last filed with the SEC.
Several other large investors also bought and sold shares of the company. BNC Wealth Management LLC increased its stake in Visa shares by 4.3% in the 1st quarter. BNC Wealth Management LLC now owns 12,373 shares of the credit card processor valued at $2,744,000 after buying 513 additional shares last quarter. Selective Wealth Management Inc. increased its position in Visa shares by 6,837.3% in the 1st quarter. Selective Wealth Management Inc. now owns 20,812 shares of the credit card processor worth $4,615,000 after buying 20,512 more shares in the last quarter. Thompson Investment Management Inc. increased its position in Visa shares by 1.7% in the first quarter. Thompson Investment Management Inc. now owns 20,314 shares of the credit card processor worth $4,505,000 after buying 346 additional shares in the last quarter. Marcum Wealth LLC increased its position in Visa shares by 7.9% in the first quarter. Marcum Wealth LLC now owns 8,013 shares of the credit card processor worth $1,777,000 after buying 590 additional shares in the last quarter. Finally, St. Johns Investment Management Company LLC increased its position in Visa shares by 605.3% in the 1st quarter. St. Johns Investment Management Company LLC now owns 2,906 shares of the credit card processor worth $644,000 after buying 2,494 additional shares in the last quarter. Institutional investors and hedge funds hold 80.77% of the company’s shares.
In other news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the company in a trade Thursday, June 30. The shares were sold at an average price of $195.37, for a total transaction of $1,758,330.00. Following the completion of the sale, the CEO now owns 159,887 shares of the company, valued at $31,237,123.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. Insiders sold 27,000 shares of the company valued at $5,619,330 in the past ninety days. Insiders hold 0.21% of the company’s shares.
A number of research analysts recently released reports on V shares. Truist Financial cut its price target on Visa shares from $275.00 to $250.00 in a research report on Thursday. Barclays cut its price target on Visa shares from $265.00 to $260.00 and set an “overweight” rating on the stock in a Monday, April 4 research report. Cowen cut his price target on Visa shares from $276.00 to $254.00 in a Wednesday, April 27 research report. Evercore ISI raised its price target on Visa shares from $304.00 to $310.00 and gave the stock an “outperform” rating in a Wednesday, April 27 research report. Finally, Piper Sandler downgraded Visa shares from an “overweight” rating to a “neutral” rating and lowered her target price for the stock from $283.00 to $239.00 in a Friday research report April 29. Five research analysts gave the stock a hold rating and twenty-one gave the stock a buy rating. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $266.24.
NYSE:V opened at $199.18 on Monday. The company has a debt ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. The company has a fifty-day moving average of $203.19 and a two-hundred-day moving average of $211.76. The stock has a market capitalization of $378.70 billion, a PE ratio of 31.32, a P/E/G ratio of 1.69 and a beta of 0.90. Visa Inc. has a fifty-two week minimum of $185.91 and a fifty-two week maximum of $252.67.
Visa (NYSE:V – Get Rating) last released quarterly earnings data on Tuesday, April 26. The credit card processor reported earnings per share of $1.79 for the quarter, beating analyst consensus estimates of $1.65 by $0.14. The company posted revenue of $7.19 billion in the quarter, versus $6.82 billion expected by analysts. Visa had a net margin of 51.10% and a return on equity of 42.89%. The company’s revenue for the quarter increased 25.5% on an annual basis. In the same period a year earlier, the company posted earnings of $1.38 per share. Research analysts forecast Visa Inc. to post earnings per share of 7.16 for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 1. Shareholders of record on Friday, May 13 received a dividend of $0.375 per share. This represents a dividend of $1.50 on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Thursday, May 12. Visa’s payout ratio is 23.58%.
Visa profile (Get a rating)
Visa Inc operates as a worldwide payment technology company. The company facilitates digital payments between consumers, merchants, financial institutions, businesses, strategic partners and government entities. It operates VisaNet, a transaction processing network that enables the authorization, clearing and settlement of payment transactions.
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