FOCUS Wealth Advisors LLC Sells 130 Shares of Visa Inc. (NYSE:V)

FOCUS Wealth Advisors LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 1.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,678 shares of the credit-card processor’s stock after selling 130 shares during the period. Visa accounts for 1.5% of FOCUS Wealth Advisors LLC’s holdings, making the stock its 18th biggest position. FOCUS Wealth Advisors LLC’s holdings in Visa were worth $2,691,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Harvest Fund Management Co. Ltd increased its holdings in shares of Visa by 221.5% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 39,963 shares of the credit-card processor’s stock worth $13,577,000 after acquiring an additional 27,531 shares during the last quarter. S&CO Inc. increased its holdings in shares of Visa by 1.3% during the 1st quarter. S&CO Inc. now owns 16,036 shares of the credit-card processor’s stock worth $5,619,000 after acquiring an additional 201 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Visa during the 1st quarter worth approximately $47,106,000. Federated Hermes Inc. increased its holdings in shares of Visa by 10.4% during the 1st quarter. Federated Hermes Inc. now owns 642,526 shares of the credit-card processor’s stock worth $225,180,000 after acquiring an additional 60,331 shares during the last quarter. Finally, Cozad Asset Management Inc. increased its holdings in shares of Visa by 41.5% during the 1st quarter. Cozad Asset Management Inc. now owns 7,940 shares of the credit-card processor’s stock worth $2,783,000 after acquiring an additional 2,328 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on V. Barclays reiterated an “overweight” rating on shares of Visa in a research report on Friday, June 13th. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and upped their target price for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. The Goldman Sachs Group began coverage on Visa in a research report on Monday, June 2nd. They set a “neutral” rating for the company. UBS Group upped their target price on Visa from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Finally, Piper Sandler upped their target price on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $375.52.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm’s stock in a transaction on 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 directly owned 537 shares of the company’s stock, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,108 shares of company stock worth $36,771,200. 0.13% of the stock is owned by company insiders.

Visa Stock Down 0.4%

V stock opened at $355.46 on Tuesday. Visa Inc. has a twelve month low of $254.51 and a twelve month high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average is $356.06 and its 200-day moving average is $345.79. The firm has a market capitalization of $655.88 billion, a PE ratio of 35.72, a P/E/G ratio of 2.41 and a beta of 0.92.

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 analysts’ consensus estimates of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter last year, the company earned $2.51 earnings per share. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. Sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. Visa’s dividend payout ratio (DPR) is currently 23.72%.

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.