Stegent Equity Advisors Inc. Trims Stake in Visa Inc. (NYSE:V)

Stegent Equity Advisors Inc. lowered its position in Visa Inc. (NYSE:V) by 7.4% during the 1st quarter, HoldingsChannel reports. The fund owned 1,219 shares of the credit-card processor’s stock after selling 98 shares during the period. Stegent Equity Advisors Inc.’s holdings in Visa were worth $427,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. von Borstel & Associates Inc. purchased a new position in Visa in the 1st quarter worth about $27,000. Sellwood Investment Partners LLC purchased a new position in Visa in the 4th quarter worth about $41,000. Mountain Hill Investment Partners Corp. purchased a new position in Visa in the 4th quarter worth about $47,000. Measured Risk Portfolios Inc. purchased a new position in Visa in the 4th quarter worth about $47,000. Finally, O Brien Wealth Partners LLC purchased a new position in Visa in the 1st quarter worth about $54,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Down 2.3%

NYSE:V opened at $347.71 on Friday. 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 Inc. has a twelve month low of $252.70 and a twelve month high of $375.51. The company’s 50 day moving average is $356.93 and its two-hundred day moving average is $342.71. The company has a market cap of $641.58 billion, a PE ratio of 34.95, a P/E/G ratio of 2.36 and a beta of 0.92.

Visa (NYSE:V) last announced its quarterly earnings data 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 business had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same period in the previous year, the business posted $2.51 EPS. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s payout ratio is 23.72%.

Analyst Upgrades and Downgrades

V has been the topic of a number of research reports. The Goldman Sachs Group initiated coverage on shares of Visa in a research report on Monday, June 2nd. They set a “neutral” rating on the stock. Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and raised their target price for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Piper Sandler raised their target price on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. UBS Group raised their target price on shares of Visa from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Finally, Jefferies Financial Group raised their target price on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $372.84.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of Visa 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 sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction that occurred 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 sale, the insider owned 26,413 shares of the company’s stock, valued at approximately $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,108 shares of company stock worth $36,771,200. Company insiders own 0.13% of the company’s stock.

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.