Mattern Capital Management LLC Sells 2,052 Shares of Visa Inc. (NYSE:V)

Mattern Capital Management LLC lowered its holdings in shares of Visa Inc. (NYSE:V) by 7.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,020 shares of the credit-card processor’s stock after selling 2,052 shares during the period. Mattern Capital Management LLC’s holdings in Visa were worth $8,418,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Sovereign Investment Advisors LLC purchased a new position in Visa in the fourth quarter worth about $424,000. Brighton Jones LLC raised its holdings in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after buying an additional 6,883 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in Visa in the fourth quarter worth about $202,074,000. Revolve Wealth Partners LLC raised its holdings in Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after buying an additional 4,817 shares during the last quarter. Finally, Leverage Partners Absolute Return Fund SPC purchased a new position in Visa in the fourth quarter worth about $204,000. Institutional investors own 82.15% of the company’s stock.

Visa Stock Down 1.6%

Shares of V stock opened at $345.87 on Thursday. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. The stock has a market cap of $638.19 billion, a P/E ratio of 34.76, a P/E/G ratio of 2.36 and a beta of 0.94. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The company has a 50 day simple moving average of $352.56 and a two-hundred day simple moving average of $339.31.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.51 earnings per share. On average, research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. Visa’s payout ratio is currently 23.72%.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the completion of the transaction, the chief executive officer now owns 537 shares in the company, valued at approximately $185,576.46. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $9,904,875. This represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,098 shares of company stock worth $36,738,526 over the last three months. 0.13% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Citigroup assumed coverage on shares of Visa in a report on Monday, June 2nd. They issued a “buy” rating for the company. Wall Street Zen raised shares of Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Evercore ISI assumed coverage on shares of Visa in a report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 target price for the company. Macquarie lowered their price objective on shares of Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Finally, Mizuho upgraded shares of Visa from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $372.80.

Visa Profile

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.