IMA Advisory Services Inc. Decreases Position in Visa Inc. (NYSE:V)

IMA Advisory Services Inc. lowered its stake in shares of Visa Inc. (NYSE:V) by 7.1% in the 1st quarter, HoldingsChannel reports. The firm owned 11,196 shares of the credit-card processor’s stock after selling 861 shares during the quarter. IMA Advisory Services Inc.’s holdings in Visa were worth $3,924,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. von Borstel & Associates Inc. bought a new stake in shares of Visa during the 1st quarter worth $27,000. Sellwood Investment Partners LLC bought a new stake in Visa in the fourth quarter worth $41,000. Measured Risk Portfolios Inc. bought a new stake in Visa in the fourth quarter worth $47,000. Navigoe LLC bought a new stake in Visa in the fourth quarter worth $53,000. Finally, O Brien Wealth Partners LLC bought a new stake in Visa in the first quarter worth $54,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on V. The Goldman Sachs Group assumed coverage on Visa in a research note on Monday, June 2nd. They set a “neutral” rating for the company. William Blair reiterated an “outperform” rating on shares of Visa in a research report on Wednesday, April 30th. Barclays reiterated an “overweight” rating on shares of Visa in a research report on Friday, June 13th. Oppenheimer increased their price objective on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Finally, Mizuho upgraded 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 report on Thursday, June 5th. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Visa has an average rating of “Moderate Buy” and an average target price of $375.52.

Visa Price Performance

Visa stock opened at $352.04 on Wednesday. Visa Inc. has a 52 week low of $252.70 and a 52 week 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 firm’s 50-day simple moving average is $356.82 and its 200 day simple moving average is $344.02. The firm has a market capitalization of $649.56 billion, a PE ratio of 35.38, a P/E/G ratio of 2.37 and a beta of 0.92.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating 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 quarter in the prior year, the company posted $2.51 EPS. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio is presently 23.72%.

Insiders Place Their Bets

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was 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 approximately $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 accessible through this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the sale, the insider directly owned 26,413 shares in the company, valued at approximately $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,108 shares of company stock worth $36,771,200 in the last 90 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.