Scissortail Wealth Management LLC Trims Position in Visa Inc. (NYSE:V)

Scissortail Wealth Management LLC decreased its holdings in shares of Visa Inc. (NYSE:V) by 16.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,414 shares of the credit-card processor’s stock after selling 490 shares during the quarter. Scissortail Wealth Management LLC’s holdings in Visa were worth $846,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cooper Financial Group grew its holdings in Visa by 16.0% in the first quarter. Cooper Financial Group now owns 10,807 shares of the credit-card processor’s stock valued at $3,787,000 after purchasing an additional 1,489 shares during the period. Biltmore Family Office LLC raised its stake in Visa by 4.0% during the first quarter. Biltmore Family Office LLC now owns 6,310 shares of the credit-card processor’s stock worth $2,211,000 after purchasing an additional 240 shares during the period. Covington Investment Advisors Inc. boosted its holdings in shares of Visa by 0.6% in the 1st quarter. Covington Investment Advisors Inc. now owns 56,641 shares of the credit-card processor’s stock valued at $19,850,000 after purchasing an additional 363 shares during the last quarter. Invesco Ltd. grew its stake in shares of Visa by 5.2% during the 1st quarter. Invesco Ltd. now owns 10,724,456 shares of the credit-card processor’s stock valued at $3,758,493,000 after buying an additional 533,238 shares during the period. Finally, Pandora Wealth Inc. acquired a new stake in shares of Visa during the 1st quarter worth $1,862,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 1.4%

Shares of Visa stock opened at $336.86 on Friday. Visa Inc. has a 1-year low of $258.74 and a 1-year high of $375.51. The company has a market capitalization of $621.56 billion, a PE ratio of 32.90, a P/E/G ratio of 2.25 and a beta of 0.94. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The business has a 50-day moving average of $352.79 and a 200-day moving average of $347.13.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter in the prior year, the business posted $2.42 earnings per share. Visa’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa’s dividend payout ratio (DPR) is presently 23.05%.

Analyst Upgrades and Downgrades

V has been the topic of several research reports. UBS Group reaffirmed a “buy” rating and issued a $415.00 target price (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. William Blair restated an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. Raymond James Financial reaffirmed an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. BMO Capital Markets increased their target price on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price target on the stock. Five research 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $380.84.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the firm’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the transaction, the insider directly owned 26,413 shares of the company’s stock, valued at $9,904,875. This trade represents a 30.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,100 shares of company stock valued at $27,643,224 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Visa Company 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.