Coastal Investment Advisors Inc. reduce its stake in Visa Inc. (NYSE: V – Get Rating) by 8.5% in the first quarter, according to HoldingsChannel.com. The fund owned 10,258 shares of credit card processor shares after selling 947 shares during the period. The holdings of Coastal Investment Advisors Inc. at Visa were worth $ 2,275,000 at the end of the last quarter.
Several other hedge funds have also recently made changes to their positions in the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in Visa shares by 0.7% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH already owns 33,887 shares of credit card processor shares worth $ 7,609,000 after acquiring an additional 236 shares in the last quarter. Flagship Harbor Advisors LLC increased its stake in Visa by 0.3% in the first quarter. Flagship Harbor Advisors LLC now owns 38,337 shares of credit card processor shares worth $ 8,502,000 after acquiring an additional 119 shares in the last quarter. Webster Bank NA increased its stake in Visa by 1.9% in the first quarter. Webster Bank NA now owns 46,464 shares of credit card processor shares worth $ 10,305,000, after acquiring an additional 844 shares in the last quarter. Manitou Investment Management Ltd. increased its stake in Visa shares by 91.0% in the first quarter. Manitou Investment Management Ltd. now owns 8,591 shares of credit card processor shares worth $ 1,905,000 after acquiring an additional 4,093 shares in the last quarter. Finally, Carret Asset Management LLC increased its stake in Visa by 0.9% in the first quarter. Carret Asset Management LLC now owns 22,865 shares of credit card processor shares worth $ 5,071,000 after acquiring an additional 200 shares in the last quarter. 80.77% of the shares are owned by institutional investors.
The NYSE V opened at $ 205.51 on Friday. The company has a market capitalization of $ 390.73 billion, a PE ratio of 32.31, a PEG ratio of 1.65 and a beta of 0.90. The company has a current ratio of 1.29, a fast ratio of 1.29 and a debt to equity ratio of 0.53. Visa Inc. has a 12-month low of $ 185.91 and a 12-month high of $ 252.67. Shares have a 50-day moving average of $ 204.67 and a 200-day moving average of $ 212.18.
Visa (NYSE: V – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The credit card processor reported $ 1.79 EPS for the quarter, beating the consensus estimate of $ 1.65 by $ 0.14. The company had revenue of $ 7.19 billion in the quarter, compared to the consensus estimate of $ 6.82 billion. Visa had a return on equity of 42.89% and a net profit of 51.10%. The company’s revenue for the quarter increased by 25.5% compared to the same quarter last year. In the same quarter of the previous year, the company reported $ 1.38 EPS. As a group, sales analysts predict that Visa Inc. will report EPS of 7.16 for the current fiscal year.
The company also recently announced a three-month dividend, which was paid on Wednesday (June 1st). The record investors on Friday, May 13, received a dividend of $ 0.375. This represents a dividend of $ 1.50 on an annual basis and a yield of 0.73%. The date of the former dividend of this dividend was Thursday, May 12. Visa’s dividend payout ratio (DPR) is currently 23.58%.
A number of brokers recently commented on V. Piper Sandler, downgraded Visa from “overweight” to “neutral” and lowered its target price for the company from $ 283.00 to $ 239.00 in a research note on Friday, April 29. Cowen lowered his price target for Visa from $ 276.00 to $ 254.00 in a research report on Wednesday, April 27. Citigroup reduced its Visa price target from $ 285.00 to $ 265.00 in a research report on Monday, April 25. Evercore ISI raised its Visa price target from $ 304.00 to $ 310.00 and gave the company a “superior” rating in a research report Wednesday, April 27th. Finally, Cowen lowered its Visa price target from $ 276.00 to $ 254.00 and set a “surplus” rating for the company in a research report on Wednesday (April 27th). Five stock research analysts rated the shares with a retention rating, and twenty-one rated the purchase of the company’s shares. According to MarketBeat.com, the stock currently has an average “Moderate Buy” rating and an average target price of $ 267.44.
In other news at Visa, CEO Alfred F. Kelly Jr. sold 9,000 shares of shares in a deal on Friday, April 29th. The shares were sold at an average price of $ 218.62, for a total transaction of $ 1,967,580.00. Following the deal, the CEO now owns 165,887 shares of the company worth approximately $ 36,266,215.94. The transaction is disclosed in a document submitted to the Securities and Exchange Commission, which can be accessed through this link. In addition, President Ryan Maxinerney sold 6,467 shares of shares in a deal on Friday, April 1st. The shares were sold at an average price of $ 223.65 for a total value of $ 1,446,344.55. The disclosure for this sale can be found here. Over the past 90 days, insiders sold 39,933 shares of the company worth $ 8,745,055. 0.21% of the shares are owned by insiders of the company.
Company profile Visa (Get a rating)
Visa Inc operates as a payment technology company worldwide. The company facilitates digital payments between consumers, merchants, financial institutions, businesses, strategic partners and government organizations. It manages VisaNet, a transaction processing network that allows the authorization, clearing and settlement of payment transactions.
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