Alta Capital Management LLC Has $24.90 Million Holdings in Visa Inc. $V

Alta Capital Management LLC cut its stake in shares of Visa Inc. (NYSE:VFree Report) by 18.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 70,990 shares of the credit-card processor’s stock after selling 15,888 shares during the quarter. Visa accounts for about 1.7% of Alta Capital Management LLC’s portfolio, making the stock its 21st largest position. Alta Capital Management LLC’s holdings in Visa were worth $24,897,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Patron Partners LLC increased its holdings in Visa by 0.6% in the third quarter. Patron Partners LLC now owns 4,648 shares of the credit-card processor’s stock valued at $1,587,000 after purchasing an additional 30 shares during the period. MTM Investment Management LLC grew its holdings in Visa by 0.9% during the 3rd quarter. MTM Investment Management LLC now owns 3,344 shares of the credit-card processor’s stock worth $1,142,000 after acquiring an additional 30 shares during the period. High Note Wealth LLC grew its holdings in Visa by 6.8% during the 3rd quarter. High Note Wealth LLC now owns 474 shares of the credit-card processor’s stock worth $162,000 after acquiring an additional 30 shares during the period. Beacon Capital Management LLC grew its holdings in Visa by 2.0% during the 3rd quarter. Beacon Capital Management LLC now owns 1,541 shares of the credit-card processor’s stock worth $526,000 after acquiring an additional 30 shares during the period. Finally, Chapman Financial Group LLC grew its holdings in Visa by 0.9% during the 3rd quarter. Chapman Financial Group LLC now owns 3,211 shares of the credit-card processor’s stock worth $1,096,000 after acquiring an additional 30 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 31,455 shares of Visa stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the transaction, the chief executive officer owned 15,174 shares of the company’s stock, valued at $5,161,284.36. This trade represents a 67.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lloyd Carney sold 650 shares of Visa stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total transaction of $201,253.00. Following the transaction, the director directly owned 2,679 shares in the company, valued at approximately $829,471.98. This represents a 19.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 42,744 shares of company stock valued at $14,356,010 in the last 90 days. 0.12% of the stock is currently owned by corporate insiders.

Visa News Roundup

Here are the key news stories impacting Visa this week:

Visa Price Performance

Shares of NYSE V opened at $333.14 on Tuesday. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $375.51. The stock has a market cap of $597.57 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 1.74 and a beta of 0.78. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09. The firm’s 50-day simple moving average is $311.47 and its 200 day simple moving average is $325.64.

Visa (NYSE:VGet Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.75 billion. During the same quarter last year, the firm earned $2.76 EPS. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. As a group, research analysts anticipate that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa declared that its board has approved a stock buyback program on Tuesday, April 28th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the credit-card processor to reacquire up to 3.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s dividend payout ratio (DPR) is currently 23.34%.

Analyst Upgrades and Downgrades

V has been the subject of several research reports. Weiss Ratings downgraded Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, April 16th. Evercore set a $350.00 target price on Visa in a research note on Wednesday, April 29th. Morgan Stanley restated an “overweight” rating and issued a $415.00 target price on shares of Visa in a research note on Wednesday, April 29th. Bank of America began coverage on Visa in a research note on Thursday, March 5th. They issued a “buy” rating and a $410.00 target price for the company. Finally, Freedom Capital raised shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. Six equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Visa currently has an average rating of “Buy” and an average price target of $387.67.

Check Out Our Latest Analysis on Visa

About Visa

(Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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