Berkeley Inc Cuts Holdings in Visa Inc. (NYSE:V)

Berkeley Inc reduced its holdings in Visa Inc. (NYSE:V) by 1.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 47,395 shares of the credit-card processor’s stock after selling 564 shares during the quarter. Visa comprises 7.8% of Berkeley Inc’s holdings, making the stock its 2nd largest holding. Berkeley Inc’s holdings in Visa were worth $16,610,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of V. von Borstel & Associates Inc. bought a new stake in shares of Visa in the 1st quarter worth $27,000. Sellwood Investment Partners LLC bought a new stake in Visa in the fourth quarter worth about $41,000. Mountain Hill Investment Partners Corp. purchased a new stake in Visa in the fourth quarter worth $47,000. Measured Risk Portfolios Inc. purchased a new stake in Visa during the fourth quarter valued at about $47,000. Finally, Navigoe LLC purchased a new stake in shares of Visa during the fourth quarter worth $53,000. 82.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

V has been the subject of a number of research analyst reports. Piper Sandler lifted their price target on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Oppenheimer upped their price target on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Susquehanna restated a “positive” rating on shares of Visa in a report on Friday, March 21st. BMO Capital Markets boosted their price objective on shares of Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Finally, Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and raised their target price for the stock 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $372.84.

Visa Price Performance

Shares of NYSE:V opened at $347.71 on Monday. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market capitalization of $641.58 billion, a P/E ratio of 34.95, a P/E/G ratio of 2.36 and a beta of 0.92. The firm’s 50 day simple moving average is $356.93 and its two-hundred day simple moving average is $342.86.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same period last year, the company posted $2.51 EPS. The business’s revenue was up 9.3% on a year-over-year basis. Research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

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

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,121,041.50. This represents a 17.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,108 shares of company stock worth $36,771,200. Insiders own 0.13% of the company’s stock.

Visa Company 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.