Western Wealth Management LLC Sells 29,371 Shares of Visa Inc. (NYSE:V)

Western Wealth Management LLC lowered its position in Visa Inc. (NYSE:V) by 81.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,551 shares of the credit-card processor’s stock after selling 29,371 shares during the quarter. Western Wealth Management LLC’s holdings in Visa were worth $2,070,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Investment Management Corp VA ADV bought a new stake in shares of Visa in the 4th quarter worth approximately $388,000. Helium Advisors LLC acquired a new position in shares of Visa in the 4th quarter worth approximately $2,655,000. Breakthru Advisory Services LLC acquired a new position in shares of Visa in the 4th quarter worth approximately $557,000. GTS Securities LLC raised its holdings in shares of Visa by 125.7% in the 4th quarter. GTS Securities LLC now owns 11,980 shares of the credit-card processor’s stock worth $3,786,000 after buying an additional 58,651 shares in the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of Visa in the 4th quarter worth approximately $287,000. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on V shares. Piper Sandler raised their price target on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Bank of America raised their price target on Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Macquarie dropped their price target on Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Barclays raised their price target on Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Oppenheimer reissued an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $362.38.

Insiders Place Their Bets

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

Visa Stock Down 0.1%

NYSE:V opened at $357.90 on Friday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $369.15. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $660.38 billion, a P/E ratio of 36.08, a P/E/G ratio of 2.33 and a beta of 0.96. The stock’s fifty day simple moving average is $341.07 and its 200-day simple moving average is $331.33.

Visa (NYSE:V) last posted its quarterly earnings results 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 business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period last year, the company earned $2.51 EPS. The firm’s revenue was up 9.3% on a year-over-year basis. Equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm 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 dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.66%. Visa’s dividend payout ratio is presently 23.72%.

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.