Pointe Capital Management LLC Decreases Position in Visa Inc. (NYSE:V)

Pointe Capital Management LLC cut its stake in Visa Inc. (NYSE:V) by 10.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,054 shares of the credit-card processor’s stock after selling 370 shares during the quarter. Pointe Capital Management LLC’s holdings in Visa were worth $1,070,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in Visa by 50.1% in the 4th 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 in the last quarter. Revolve Wealth Partners LLC lifted its stake in Visa by 68.9% in the 4th 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 in the last quarter. Highview Capital Management LLC DE lifted its stake in Visa by 3.1% in the 4th quarter. Highview Capital Management LLC DE now owns 19,997 shares of the credit-card processor’s stock worth $6,320,000 after purchasing an additional 604 shares in the last quarter. Greenwich Wealth Management LLC lifted its stake in Visa by 2.7% in the 4th quarter. Greenwich Wealth Management LLC now owns 1,296 shares of the credit-card processor’s stock worth $410,000 after purchasing an additional 34 shares in the last quarter. Finally, Gallacher Capital Management LLC lifted its stake in Visa by 46.6% in the 4th quarter. Gallacher Capital Management LLC now owns 1,114 shares of the credit-card processor’s stock worth $352,000 after purchasing an additional 354 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

V has been the topic of a number of research reports. Citigroup initiated coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “buy” rating on the stock. UBS Group raised their price target on shares of Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. William Blair restated an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. Susquehanna restated a “positive” rating on shares of Visa in a report on Friday, March 21st. Finally, The Goldman Sachs Group started coverage on shares of Visa in a report on Monday, June 2nd. They set a “neutral” rating for the company. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $372.84.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the firm’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 completion of the transaction, the insider owned 26,413 shares of the company’s stock, valued at $9,772,810. This trade represents a 63.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 101,108 shares of company stock valued at $36,771,200 in the last 90 days. Company insiders own 0.13% of the company’s stock.

Visa Stock Up 0.7%

Visa stock opened at $350.45 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The company has a market capitalization of $646.63 billion, a PE ratio of 35.22, a price-to-earnings-growth ratio of 2.36 and a beta of 0.92. The firm has a 50 day moving average price of $356.96 and a 200 day moving average price of $343.09.

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

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders 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 annualized dividend and a yield of 0.67%. Visa’s dividend payout ratio is presently 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.