Abound Wealth Management Sells 79 Shares of Visa Inc. (NYSE:V)

Abound Wealth Management lowered its stake in shares of Visa Inc. (NYSE:V) by 8.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 867 shares of the credit-card processor’s stock after selling 79 shares during the quarter. Abound Wealth Management’s holdings in Visa were worth $304,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Visa in the fourth quarter valued at approximately $27,000. Compass Planning Associates Inc bought a new stake in shares of Visa in the fourth quarter valued at approximately $32,000. FPC Investment Advisory Inc. boosted its position in shares of Visa by 377.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock valued at $36,000 after acquiring an additional 83 shares during the period. NewSquare Capital LLC bought a new stake in shares of Visa in the fourth quarter valued at approximately $35,000. Finally, Sellwood Investment Partners LLC bought a new stake in shares of Visa in the fourth quarter valued at approximately $41,000. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

Visa stock opened at $352.75 on Monday. The business’s 50-day simple moving average is $349.76 and its 200 day simple moving average is $337.77. The stock has a market cap of $650.87 billion, a price-to-earnings ratio of 35.56, a P/E/G ratio of 2.33 and a beta of 0.94. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last posted its quarterly earnings results 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 business had revenue of $9.59 billion for 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%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.51 earnings per share. As a group, research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the firm’s 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total value of $3,020,792.80. Following the transaction, the chief executive officer now owns 537 shares in the company, valued at approximately $188,186.28. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,448 shares of company stock worth $50,133,659 over the last 90 days. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

V has been the subject of a number of recent research reports. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and upped their target price for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Wall Street Zen upgraded Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Piper Sandler upped their target price on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. William Blair restated an “outperform” rating on shares of Visa in a research note on Wednesday, April 30th. Finally, Citigroup initiated coverage on Visa in a research note on Monday, June 2nd. They issued a “buy” rating for the company. Five 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $372.80.

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.