Meridian Management Co. Has $5.18 Million Stock Holdings in Visa Inc. (NYSE:V)

Meridian Management Co. reduced its stake in Visa Inc. (NYSE:V) by 3.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,781 shares of the credit-card processor’s stock after selling 518 shares during the period. Visa accounts for approximately 1.6% of Meridian Management Co.’s investment portfolio, making the stock its 18th biggest position. Meridian Management Co.’s holdings in Visa were worth $5,180,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. FWL Investment Management LLC grew its stake in shares of Visa by 0.5% in the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor’s stock valued at $2,005,000 after acquiring an additional 29 shares in the last quarter. Yeomans Consulting Group Inc. boosted its holdings in Visa by 2.9% in the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock valued at $360,000 after purchasing an additional 29 shares during the period. Semus Wealth Partners LLC grew its position in shares of Visa by 0.8% during the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock worth $1,209,000 after purchasing an additional 29 shares in the last quarter. Capstone Financial Advisors Inc. grew its position in shares of Visa by 3.6% during the 4th quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor’s stock worth $276,000 after purchasing an additional 30 shares in the last quarter. Finally, Headinvest LLC increased its holdings in shares of Visa by 0.8% during the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor’s stock worth $1,265,000 after purchasing an additional 30 shares during the period. 82.15% of the stock is owned by institutional investors.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the sale, the insider directly owned 26,413 shares in the company, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction dated 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 transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,108 shares of company stock valued at $36,771,200. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

V has been the subject of several recent research reports. Truist Financial cut their price target on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Citigroup started coverage on Visa in a research report on Monday, June 2nd. They set a “buy” rating for the company. Mizuho raised Visa from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Oppenheimer raised their price target on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Finally, The Goldman Sachs Group began coverage on shares of Visa in a research note on Monday, June 2nd. They set a “neutral” rating on the stock. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $375.52.

Visa Stock Up 0.8%

Shares of V opened at $356.93 on Monday. The stock’s 50-day moving average price is $356.30 and its two-hundred day moving average price is $345.45. Visa Inc. has a 12 month low of $254.51 and a 12 month high of $375.51. The company has a market capitalization of $658.60 billion, a PE ratio of 35.87, a PEG ratio of 2.41 and a beta of 0.92. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.51 earnings per share. On average, analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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

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.