Visa Inc. (NYSE:V) Shares Sold by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV lessened its stake in shares of Visa Inc. (NYSE:V) by 11.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,507 shares of the credit-card processor’s stock after selling 1,484 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Visa were worth $4,033,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of V. Hirtle Callaghan & Co LLC grew its holdings in shares of Visa by 1.3% during the 4th quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock valued at $724,000 after purchasing an additional 29 shares during the last quarter. FWL Investment Management LLC grew its holdings in shares of Visa by 0.5% during the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor’s stock valued at $2,005,000 after purchasing an additional 29 shares during the last quarter. Warther Private Wealth LLC grew its holdings in shares of Visa by 1.0% during the 4th quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock valued at $928,000 after purchasing an additional 30 shares during the last quarter. Valmark Advisers Inc. grew its holdings in shares of Visa by 0.4% during the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock valued at $2,292,000 after purchasing an additional 30 shares during the last quarter. Finally, Strategic Family Wealth Counselors L.L.C. grew its holdings in shares of Visa by 0.4% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor’s stock valued at $2,302,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the sale, the insider now owns 26,413 shares in the company, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel now directly owns 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 140,448 shares of company stock worth $50,133,659 over the last quarter. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on V shares. Citigroup started coverage on shares of Visa in a report on Monday, June 2nd. They issued a “buy” rating on the stock. The Goldman Sachs Group started coverage on shares of Visa in a report on Monday, June 2nd. They issued a “neutral” rating on the stock. Jefferies Financial Group raised their price target on shares of Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a report on Tuesday, May 27th. Evercore ISI started coverage on shares of Visa in a report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 price target on the stock. Finally, Wall Street Zen raised shares of Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $372.80.

Visa Stock Down 5.0%

Visa stock opened at $352.75 on Friday. The stock has a market cap of $650.87 billion, a PE ratio of 35.56, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a one year low of $252.70 and a one year high of $375.51. The stock has a fifty day moving average of $349.76 and a 200 day moving average of $337.45.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 54.79% and a net margin of 54.27%. Visa’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.51 earnings per share. As a group, sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s payout ratio is 23.72%.

About Visa

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.