Park Square Financial Group LLC Sells 104 Shares of Visa Inc. (NYSE:V)

Park Square Financial Group LLC trimmed its holdings in shares of Visa Inc. (NYSE:V) by 5.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,989 shares of the credit-card processor’s stock after selling 104 shares during the quarter. Park Square Financial Group LLC’s holdings in Visa were worth $697,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in V. Sovereign Investment Advisors LLC bought a new stake in shares of Visa during the fourth quarter worth $424,000. Brighton Jones LLC lifted its position in shares of Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after purchasing an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after purchasing an additional 4,817 shares during the last quarter. Highview Capital Management LLC DE raised its holdings in shares of Visa by 3.1% in the fourth quarter. Highview Capital Management LLC DE now owns 19,997 shares of the credit-card processor’s stock valued at $6,320,000 after acquiring an additional 604 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in shares of Visa by 13.8% in the fourth quarter. Proficio Capital Partners LLC now owns 26,260 shares of the credit-card processor’s stock valued at $8,299,000 after acquiring an additional 3,191 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

V has been the subject of several recent research reports. Barclays restated an “overweight” rating on shares of Visa in a report on Friday, June 13th. The Goldman Sachs Group initiated coverage on Visa in a report on Monday, June 2nd. They issued a “neutral” rating for the company. Evercore ISI initiated coverage on Visa in a report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 price objective for the company. Wall Street Zen upgraded Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Finally, Piper Sandler lifted their price objective on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $372.84.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,108 shares of company stock worth $36,771,200 over the last quarter. Insiders own 0.13% of the company’s stock.

Visa Price Performance

Shares of V stock opened at $347.71 on Friday. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The firm has a market capitalization of $641.58 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 2.36 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The stock’s 50-day simple moving average is $356.93 and its 200-day simple moving average is $342.71.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping 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 business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the previous year, the firm earned $2.51 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. As a group, equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a $0.59 dividend. 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 0.68%. Visa’s dividend payout ratio 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.