Avenir Corp Lowers Holdings in Visa Inc. $V

Avenir Corp decreased its stake in shares of Visa Inc. (NYSE:V) by 0.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,382 shares of the credit-card processor’s stock after selling 356 shares during the quarter. Visa comprises about 1.6% of Avenir Corp’s investment portfolio, making the stock its 17th biggest holding. Avenir Corp’s holdings in Visa were worth $14,853,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Keystone Global Partners LLC purchased a new position in Visa during the first quarter valued at $26,000. von Borstel & Associates Inc. purchased a new position in shares of Visa in the first quarter worth $27,000. Measured Risk Portfolios Inc. purchased a new position in shares of Visa in the fourth quarter worth $47,000. Navigoe LLC purchased a new position in shares of Visa in the fourth quarter worth $53,000. Finally, O Brien Wealth Partners LLC purchased a new position in shares of Visa in the first quarter worth $54,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V opened at $351.19 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The business has a 50-day simple moving average of $347.66 and a two-hundred day simple moving average of $347.42. The stock has a market cap of $643.65 billion, a price-to-earnings ratio of 34.30, a PEG ratio of 2.32 and a beta of 0.94. Visa Inc. has a 52 week low of $267.67 and a 52 week high of $375.51.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.42 earnings per share. On average, analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be given a $0.59 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio is presently 23.05%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the company’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the sale, the insider owned 26,413 shares of the company’s stock, valued at $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 77,127 shares of company stock worth $28,340,553 over the last quarter. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Oppenheimer boosted their price target on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Citigroup assumed coverage on Visa in a research note on Monday, June 2nd. They issued a “buy” rating for the company. BMO Capital Markets boosted their price target on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Piper Sandler boosted their price target on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Finally, Jefferies Financial Group upped their price objective on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $380.84.

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.