E&G Advisors LP Sells 100 Shares of Visa Inc. (NYSE:V)

E&G Advisors LP decreased its holdings in Visa Inc. (NYSE:V) by 1.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,156 shares of the credit-card processor’s stock after selling 100 shares during the quarter. Visa accounts for approximately 0.7% of E&G Advisors LP’s investment portfolio, making the stock its 26th biggest holding. E&G Advisors LP’s holdings in Visa were worth $2,508,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Lakeridge Wealth Management LLC lifted its position in shares of Visa by 5.7% during the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor’s stock worth $528,000 after buying an additional 81 shares in the last quarter. Blue Rock Wealth Management LLC bought a new position in shares of Visa during the 4th quarter worth approximately $306,000. Aptus Capital Advisors LLC lifted its position in shares of Visa by 19.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock worth $57,727,000 after buying an additional 30,185 shares in the last quarter. King Wealth Management Group lifted its position in shares of Visa by 9.0% during the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock worth $23,663,000 after buying an additional 6,172 shares in the last quarter. Finally, Eagle Strategies LLC increased its stake in shares of Visa by 2.5% during the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock worth $811,000 after purchasing an additional 63 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Down 1.6%

V opened at $345.87 on Thursday. The company has a fifty day moving average price of $352.56 and a 200-day moving average price of $339.31. The firm has a market capitalization of $638.19 billion, a P/E ratio of 34.76, a price-to-earnings-growth ratio of 2.36 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a one year low of $252.70 and a one year high of $375.51.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (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 company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the previous year, the firm posted $2.51 EPS. The firm’s revenue was up 9.3% compared to the same quarter last year. Equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued 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 of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio is currently 23.72%.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the sale, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $9,772,810. The trade was a 63.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the sale, the chief executive officer now directly owns 537 shares of the company’s stock, valued at $185,576.46. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,098 shares of company stock valued at $36,738,526. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the subject of several research analyst reports. BMO Capital Markets raised their price target on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Evercore ISI initiated coverage on shares of Visa in a research note on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price target for the company. Macquarie decreased their price target on shares of Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “neutral” rating for the company. Finally, Piper Sandler lifted their price objective on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. 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, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $372.80.

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.