Sheets Smith Wealth Management Trims Position in Visa Inc. $V

Sheets Smith Wealth Management lowered its stake in Visa Inc. (NYSE:V) by 11.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 46,342 shares of the credit-card processor’s stock after selling 5,752 shares during the period. Visa makes up approximately 1.6% of Sheets Smith Wealth Management’s portfolio, making the stock its 8th biggest holding. Sheets Smith Wealth Management’s holdings in Visa were worth $14,006,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Visa in the 4th quarter worth approximately $5,877,738,000. Cardano Risk Management B.V. grew its holdings in shares of Visa by 867.6% in the fourth quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor’s stock worth $2,880,595,000 after purchasing an additional 7,364,762 shares during the last quarter. J. Stern & Co. LLP grew its holdings in shares of Visa by 12,497.1% in the fourth quarter. J. Stern & Co. LLP now owns 3,378,039 shares of the credit-card processor’s stock worth $1,184,712,000 after purchasing an additional 3,351,223 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Visa by 48.2% in the fourth quarter. Victory Capital Management Inc. now owns 6,508,089 shares of the credit-card processor’s stock worth $2,282,472,000 after buying an additional 2,116,463 shares during the period. Finally, Corient Private Wealth LLC raised its holdings in Visa by 110.4% during the 2nd quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock valued at $1,396,930,000 after buying an additional 2,075,289 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Visa

In other Visa news, CFO Chris Suh sold 10,639 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the transaction, the chief financial officer owned 9,872 shares of the company’s stock, valued at approximately $3,206,524.32. This trade represents a 51.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 31,455 shares of the business’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the sale, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,161,284.36. This trade represents a 67.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.12% of the company’s stock.

Visa Price Performance

Shares of NYSE V opened at $327.78 on Tuesday. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $359.66. The stock has a market capitalization of $587.96 billion, a P/E ratio of 28.55, a P/E/G ratio of 1.75 and a beta of 0.77. The company’s 50-day moving average is $321.61 and its 200 day moving average is $324.18. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, topping the consensus estimate of $3.10 by $0.21. The business had revenue of $11.23 billion during the quarter, compared to analyst estimates of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. Visa’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period last year, the business posted $2.76 earnings per share. On average, sell-side analysts expect that Visa Inc. will post 13.09 earnings per share for the current year.

Visa announced that its board has approved a stock repurchase program on Tuesday, April 28th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the credit-card processor to buy up to 3.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, May 12th. Visa’s dividend payout ratio (DPR) is presently 23.34%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on V. Evercore set a $350.00 price target on shares of Visa in a research report on Wednesday, April 29th. Loop Capital assumed coverage on shares of Visa in a research note on Tuesday, March 31st. They set a “buy” rating and a $387.00 price objective for the company. BMO Capital Markets assumed coverage on shares of Visa in a report on Tuesday, April 21st. They set an “outperform” rating and a $365.00 target price for the company. Bank of America initiated coverage on Visa in a research note on Thursday, March 5th. They issued a “buy” rating and a $410.00 target price on the stock. Finally, Citigroup reduced their price target on Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Six analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Visa currently has a consensus rating of “Buy” and a consensus target price of $387.78.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.