Visa Inc. $V Shares Sold by Relyea Zuckerberg Hanson LLC

Relyea Zuckerberg Hanson LLC decreased its holdings in shares of Visa Inc. (NYSE:V) by 18.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,956 shares of the credit-card processor’s stock after selling 2,943 shares during the quarter. Relyea Zuckerberg Hanson LLC’s holdings in Visa were worth $3,916,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of V. Ransom Advisory Ltd grew its stake in Visa by 0.3% during the 4th quarter. Ransom Advisory Ltd now owns 9,447 shares of the credit-card processor’s stock valued at $3,313,000 after acquiring an additional 30 shares in the last quarter. Bank OZK lifted its stake in Visa by 3.7% in the 3rd quarter. Bank OZK now owns 858 shares of the credit-card processor’s stock worth $293,000 after purchasing an additional 31 shares in the last quarter. FOCUS Wealth Advisors LLC lifted its stake in Visa by 0.4% in the 4th quarter. FOCUS Wealth Advisors LLC now owns 7,710 shares of the credit-card processor’s stock worth $2,704,000 after purchasing an additional 31 shares in the last quarter. Planned Solutions Inc. boosted its holdings in shares of Visa by 2.0% during the 4th quarter. Planned Solutions Inc. now owns 1,598 shares of the credit-card processor’s stock worth $560,000 after purchasing an additional 31 shares during the last quarter. Finally, Frederick Financial Consultants LLC boosted its holdings in shares of Visa by 2.0% during the 4th quarter. Frederick Financial Consultants LLC now owns 1,598 shares of the credit-card processor’s stock worth $560,000 after purchasing an additional 31 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

V has been the subject of a number of analyst reports. Truist Financial set a $371.00 price target on Visa and gave the company a “buy” rating in a research report on Tuesday, May 12th. Raymond James Financial reissued an “outperform” rating and set a $389.00 price objective on shares of Visa in a research note on Wednesday, April 29th. Loop Capital began coverage on Visa in a report on Tuesday, March 31st. They issued a “buy” rating and a $387.00 target price for the company. Barclays began coverage on Visa in a research note on Tuesday. They issued an “overweight” rating and a $420.00 target price for the company. Finally, Oppenheimer reiterated an “outperform” rating and set a $403.00 price target (up from $391.00) on shares of Visa in a report on Wednesday, April 29th. Seven analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Visa currently has a consensus rating of “Buy” and a consensus price target of $397.91.

Visa Trading Up 0.2%

V traded up $0.85 on Friday, hitting $349.05. The company had a trading volume of 4,701,656 shares, compared to its average volume of 8,985,494. The company’s fifty day moving average price is $330.81 and its 200 day moving average price is $325.05. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $365.02. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The firm has a market cap of $626.12 billion, a P/E ratio of 30.41, a PEG ratio of 1.86 and a beta of 0.75.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.21. The business had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period last year, the business earned $2.76 earnings per share. As a group, equities analysts expect that Visa Inc. will post 13.1 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio (DPR) is presently 23.34%.

Visa declared that its Board of Directors has approved a share repurchase plan on Tuesday, April 28th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 10,490 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $343.99, for a total transaction of $3,608,455.10. Following the completion of the transaction, the chief executive officer directly owned 15,174 shares in the company, valued at $5,219,704.26. This trade represents a 40.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total value of $729,720.00. Following the transaction, the general counsel owned 18,404 shares of the company’s stock, valued at approximately $6,625,440. This represents a 9.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 75,581 shares of company stock worth $25,627,975. Insiders own 0.12% of the company’s stock.

About Visa

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.