Tealwood Asset Management Inc. Sells 55 Shares of Visa Inc. (NYSE:V)

Tealwood Asset Management Inc. cut its holdings in Visa Inc. (NYSE:V) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,871 shares of the credit-card processor’s stock after selling 55 shares during the quarter. Tealwood Asset Management Inc.’s holdings in Visa were worth $2,058,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Rock Wealth Management LLC acquired a new stake in Visa in the 4th quarter valued at $306,000. Aptus Capital Advisors LLC boosted its holdings in shares of Visa by 19.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock worth $57,727,000 after buying an additional 30,185 shares during the period. King Wealth Management Group boosted its holdings in shares of Visa by 9.0% during the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock worth $23,663,000 after buying an additional 6,172 shares during the period. Eagle Strategies LLC boosted its holdings in shares of Visa by 2.5% during the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock worth $811,000 after buying an additional 63 shares during the period. Finally, Generali Investments CEE investicni spolecnost a.s. bought a new stake in Visa in the 4th quarter valued at about $10,163,000. 82.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

V has been the subject of several analyst reports. Piper Sandler boosted their target price on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Truist Financial began coverage on shares of Visa in a research report on Monday, June 2nd. They issued a “buy” rating and a $400.00 price target for the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Macquarie cut their target price on shares of Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Finally, BMO Capital Markets increased their target price on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Five 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’s stock. According to MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $372.80.

Insider Activity

In other news, insider Paul D. Fabara sold 39,350 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $327.20, for a total value of $12,875,320.00. Following the completion of the transaction, the insider now owns 26,413 shares of the company’s stock, valued at approximately $8,642,333.60. This trade represents a 59.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $362.77, for a total transaction of $3,127,077.40. Following the completion of the transaction, the chief executive officer now directly owns 537 shares of the company’s stock, valued at approximately $194,807.49. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 168,162 shares of company stock worth $58,645,479 over the last three months. Insiders own 0.13% of the company’s stock.

Visa Trading Up 1.0%

NYSE V opened at $370.44 on Friday. The firm has a market cap of $683.52 billion, a PE ratio of 37.34, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $371.00. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average price of $345.45 and a 200 day moving average price of $335.50.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The business had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the prior year, the firm earned $2.51 EPS. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

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

Visa Company Profile

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.