Visa Inc. (NYSE:V) Shares Sold by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 2.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 20,360 shares of the credit-card processor’s stock after selling 557 shares during the quarter. Visa accounts for 0.9% of MainStreet Investment Advisors LLC’s investment portfolio, making the stock its 29th largest position. MainStreet Investment Advisors LLC’s holdings in Visa were worth $6,435,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of V. Decker Retirement Planning Inc. purchased a new position in Visa during the fourth quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Visa during the fourth quarter worth about $27,000. POM Investment Strategies LLC lifted its position in shares of Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 32 shares in the last quarter. Compass Planning Associates Inc purchased a new position in shares of Visa in the fourth quarter valued at approximately $32,000. Finally, NewSquare Capital LLC purchased a new position in Visa in the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the sale, the general counsel now owns 11,925 shares in the company, valued at $4,121,041.50. This represents a 17.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $363.00, for a total value of $3,129,060.00. Following the completion of the sale, the chief executive officer now owns 537 shares in the company, valued at approximately $194,931. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 121,948 shares of company stock worth $41,548,282 over the last 90 days. Company insiders own 0.13% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $356.13 on Wednesday. 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 50 day simple moving average of $337.30 and a 200-day simple moving average of $328.04. The company has a market cap of $661.61 billion, a price-to-earnings ratio of 35.90, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $366.54.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The firm had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter in the prior year, the business posted $2.51 earnings per share. Visa’s revenue was up 9.3% compared to the same quarter last year. On average, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is 23.72%.

Wall Street Analysts Forecast Growth

V has been the subject of a number of analyst reports. Piper Sandler boosted their price objective on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Raymond James reissued an “outperform” rating and set a $393.00 target price (up previously from $374.00) on shares of Visa in a research report on Friday, January 31st. Macquarie dropped their target price on shares of Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Oppenheimer reiterated an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Finally, William Blair restated an “outperform” rating on shares of Visa in a research report on Wednesday, April 30th. Six research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $362.38.

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.