Profit Investment Management LLC reduced holdings in Visa Inc. (NYSE:V)


Profit Investment Management LLC reduced its holdings in shares of Visa Inc. (NYSE:V – Get Rating ) by 6.2% during the first quarter, Holdings Channel.com reports. The fund owned 6,509 shares of the credit card processor’s stock after selling 431 shares during the period. Profit Investment Management LLC’s holdings in Visa were worth $1,443,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of V. Harbor Capital Advisors LLC boosted its stake in shares of Visa by 1.5% in the fourth quarter. Harbor Capital Advisors LLC now owns 29,772 shares of the credit card processor’s stock valued at $6,452,000 after acquiring an additional 441 shares in the last quarter. Metropolis Capital Ltd boosted its holdings in shares of Visa by 9.5% during the fourth quarter. Metropolis Capital Ltd now owns 912,457 shares of the credit card processor’s stock valued at $197,739,000 after buying an additional 79,098 shares during the period. Perkins Coie Trust Co boosted its holdings in shares of Visa by 8.2% during the fourth quarter. Perkins Coie Trust Co now owns 29,693 shares of the credit-card processor’s stock valued at $6,435,000 after buying an additional 2,238 shares during the period. IVC Wealth Advisors LLC boosted its holdings in shares of Visa by 0.8% in the fourth quarter. IVC Wealth Advisors LLC now owns 5,757 shares of the credit card processor’s stock valued at $1,248,000 after purchasing an additional 46 shares during the period. Finally, Wealth Alliance Advisory Group LLC boosted its holdings in shares of Visa by 18.4% in the fourth quarter. Wealth Alliance Advisory Group LLC now owns 6,359 shares of the credit card processor’s stock valued at $1,378,000 after purchasing an additional 990 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s shares.

V stock opened at $199.18 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29, and a quick ratio of 1.29. The firm has a market cap of $378.70 billion, a P/E ratio of 31.32, a P/E/G ratio of 1.75 and a beta of 0.90. The business’s 50-day moving average is $203.19, and its two-hundred-day moving average is $211.78. Visa Inc. has a 1-year low of $185.91 and a 1-year high of $252.67.

Visa (NYSE:V – Get Rating ) last posted its quarterly earnings data on Tuesday, April 26th. The credit card processor reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.14. The business had revenue of $7.19 billion for the quarter, compared to the consensus estimate of $6.82 billion. Visa had a return on equity of 42.89% and a net margin of 51.10%. The business’s revenue for the quarter was up 25.5% year-over-year. During the same quarter in the previous year, the business reported $1.38 EPS. On average, analysts expect Visa Inc. to post 7.16 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Friday, May 13th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, May 12th. This represents a dividend of $1.50 per year and a yield of 0.75%. Visa’s payout ratio is 23.58%.

V has been the subject of a number of research reports. Evercore ISI boosted their target price on Visa from $304.00 to $310.00 and gave the stock an “outperform” rating in a report on Wednesday, April 27th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a report on Thursday, April 28th. Truist Financial reduced their target price on Visa from $275.00 to $250.00 in a report on Thursday. Piper Sandler downgraded Visa from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $283.00 to $239.00 in a report on Friday, April 29th. Finally, Cowen cut their target price on Visa from $276.00 to $254.00 in a report on Wednesday, April 27th. Five investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Visa has an average rating of “Moderate Buy” and a consensus target price of $266.24, according to MarketBeat.com .

In other news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $210.38 for a total value of $1,893,420.00. Following the completion of the sale, the chief executive officer now directly owns 162,887 shares of the company’s stock, valued at approximately $34,268,167.06. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed via this link. Insiders have sold a total of 27,000 shares of company stock valued at $5,619,330 over the last ninety days. 0.21% of shares are owned by insiders.

About Visa (Get Rating)

Visa Inc operates as a payment technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners and government bodies. It operates VisaNet, a transaction processing network that enables the authorization, clearing and settlement of payment transactions.

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Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider deals for Visa Inc. (NYSE:V – Get Rating).

Institutional Ownership by Quarter for Visa (NYSE:V)



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