Skye Global Management LP Sells 2,000 Shares of Visa Inc. (NYSE:V)

Skye Global Management LP lowered its stake in shares of Visa Inc. (NYSE:V) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,000 shares of the credit-card processor’s stock after selling 2,000 shares during the quarter. Visa comprises 0.7% of Skye Global Management LP’s holdings, making the stock its 24th largest holding. Skye Global Management LP’s holdings in Visa were worth $32,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hirtle Callaghan & Co LLC boosted its position in Visa by 1.3% during the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock worth $724,000 after purchasing an additional 29 shares during the period. FWL Investment Management LLC lifted its stake in shares of Visa by 0.5% during the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor’s stock worth $2,005,000 after buying an additional 29 shares during the last quarter. Elevation Wealth Partners LLC boosted its holdings in shares of Visa by 3.3% during the 4th quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock worth $297,000 after buying an additional 30 shares during the period. Warther Private Wealth LLC grew its stake in Visa by 1.0% in the 4th quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock valued at $928,000 after buying an additional 30 shares during the last quarter. Finally, Valmark Advisers Inc. raised its holdings in Visa by 0.4% in the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock valued at $2,292,000 after acquiring an additional 30 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 39,350 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the completion of the transaction, the insider now directly owns 26,413 shares in the company, valued at $8,642,333.60. This trade represents a 59.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the sale, the chief executive officer now directly owns 537 shares of the company’s stock, valued at $194,931. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 121,948 shares of company stock worth $41,548,282. 0.13% of the stock is currently owned by insiders.

Visa Stock Up 1.5%

V stock opened at $361.87 on Friday. The firm has a 50-day moving average price of $337.92 and a 200-day moving average price of $328.77. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $366.54. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $672.27 billion, a P/E ratio of 36.48, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business posted $2.51 earnings per share. As a group, equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.65%. Visa’s payout ratio is presently 23.72%.

Analysts Set New Price Targets

V has been the subject of several research reports. Susquehanna reissued a “positive” rating on shares of Visa in a report on Friday, March 21st. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a report on Monday. Bank of America upped their price target on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Piper Sandler raised their price target on shares of Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Finally, UBS Group cut their price objective on shares of Visa from $400.00 to $395.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Six investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $362.38.

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.