Cerro Pacific Wealth Advisors LLC Sells 47 Shares of Visa Inc. (NYSE:V)

Cerro Pacific Wealth Advisors LLC decreased its holdings in Visa Inc. (NYSE:V) by 2.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,314 shares of the credit-card processor’s stock after selling 47 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Visa were worth $811,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares during the period. Geode Capital Management LLC boosted its stake in shares of Visa by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock worth $12,729,901,000 after acquiring an additional 1,689,926 shares during the period. Capital International Investors lifted its position in shares of Visa by 3.8% in the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor’s stock worth $7,526,660,000 after buying an additional 866,596 shares in the last quarter. Capital World Investors lifted its position in shares of Visa by 1.0% in the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor’s stock worth $7,356,614,000 after buying an additional 241,057 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock worth $5,771,116,000 after buying an additional 2,785,707 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.8%

V opened at $365.43 on Friday. The stock’s fifty day moving average is $343.40 and its two-hundred day moving average is $333.71. The company has a market capitalization of $674.28 billion, a P/E ratio of 36.84, a PEG ratio of 2.33 and a beta of 0.96. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $369.15. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. Visa’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the business posted $2.51 EPS. Analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.65%. Visa’s payout ratio is currently 23.72%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on V. Wall Street Zen upgraded Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. BMO Capital Markets boosted their target price on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Macquarie decreased their target price on Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Evercore ISI began coverage on Visa in a research report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 target price on the stock. Finally, Susquehanna reiterated a “positive” rating on shares of Visa in a research report on Friday, March 21st. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $366.13.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 39,350 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the sale, the insider now owns 26,413 shares of the company’s stock, valued at approximately $8,642,333.60. This trade represents a 59.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $2,978,899.60. Following the sale, the chief executive officer now directly owns 537 shares in the company, valued at $185,576.46. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 121,948 shares of company stock worth $41,548,282 in the last ninety days. 0.13% of the stock is owned by company insiders.

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.