Cox Capital Mgt LLC Sells 405 Shares of Visa Inc. (NYSE:V)

Cox Capital Mgt LLC lessened its stake in Visa Inc. (NYSE:V) by 2.5% in the 1st quarter, Holdings Channel reports. The firm owned 16,029 shares of the credit-card processor’s stock after selling 405 shares during the period. Visa comprises about 4.1% of Cox Capital Mgt LLC’s portfolio, making the stock its 5th largest holding. Cox Capital Mgt LLC’s holdings in Visa were worth $5,618,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Sweeney & Michel LLC acquired a new position in Visa in the 1st quarter valued at about $601,000. NBC Securities Inc. grew its holdings in shares of Visa by 104,638.5% in the first quarter. NBC Securities Inc. now owns 27,232 shares of the credit-card processor’s stock valued at $9,543,000 after purchasing an additional 27,206 shares in the last quarter. Worth Asset Management LLC increased its stake in Visa by 218.6% during the 1st quarter. Worth Asset Management LLC now owns 6,381 shares of the credit-card processor’s stock worth $2,236,000 after buying an additional 4,378 shares during the period. Baker Tilly Wealth Management LLC lifted its holdings in Visa by 2.9% during the 1st quarter. Baker Tilly Wealth Management LLC now owns 12,465 shares of the credit-card processor’s stock worth $4,369,000 after buying an additional 348 shares in the last quarter. Finally, Woodstock Corp boosted its position in Visa by 2.0% in the 1st quarter. Woodstock Corp now owns 37,588 shares of the credit-card processor’s stock valued at $13,173,000 after buying an additional 744 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

NYSE V opened at $365.43 on Monday. The company has a fifty day moving average of $343.40 and a two-hundred day moving average of $333.88. The company has a market capitalization of $674.28 billion, a PE ratio of 36.84, a P/E/G ratio of 2.33 and a beta of 0.96. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $369.15. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion during 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%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.51 EPS. As a group, analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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 paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa’s dividend payout ratio is currently 23.72%.

Wall Street Analysts Forecast Growth

V has been the topic of a number of recent research reports. Piper Sandler upped their price objective on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. 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 note on Wednesday, April 30th. William Blair reaffirmed an “outperform” rating on shares of Visa in a research report on Wednesday, April 30th. Oppenheimer reissued an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Finally, Susquehanna restated a “positive” rating on shares of Visa in a research note on Friday, March 21st. Six research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $366.13.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $340.41, for a total transaction of $13,395,133.50. Following the completion of the sale, the insider now directly owns 26,413 shares of the company’s stock, valued at $8,991,249.33. The trade was a 59.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,328 shares of company stock worth $38,419,222. 0.13% of the stock is owned by insiders.

About Visa

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.