Litman Gregory Wealth Management LLC Sells 466 Shares of Visa Inc. (NYSE:V)

Litman Gregory Wealth Management LLC lowered its holdings in Visa Inc. (NYSE:V) by 0.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,650 shares of the credit-card processor’s stock after selling 466 shares during the period. Visa comprises about 1.8% of Litman Gregory Wealth Management LLC’s portfolio, making the stock its 13th largest holding. Litman Gregory Wealth Management LLC’s holdings in Visa were worth $20,554,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. von Borstel & Associates Inc. bought a new position in shares of Visa in the 1st quarter valued at about $27,000. Sellwood Investment Partners LLC bought a new position in shares of Visa in the 4th quarter valued at about $41,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Visa in the 4th quarter valued at about $47,000. Measured Risk Portfolios Inc. bought a new position in shares of Visa in the 4th quarter valued at about $47,000. Finally, Navigoe LLC bought a new position in shares of Visa in the 4th quarter valued at about $53,000. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on V. Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and increased their price target for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Piper Sandler lifted their price objective on shares of Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Macquarie dropped their price objective on shares of Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Jefferies Financial Group lifted their price objective on shares of Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research note on Tuesday, May 27th. Finally, The Goldman Sachs Group initiated coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “neutral” rating for the company. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $372.84.

Visa Stock Up 0.8%

Shares of NYSE V opened at $349.83 on Thursday. The firm has a market cap of $645.50 billion, a PE ratio of 35.16, a P/E/G ratio of 2.35 and a beta of 0.92. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The company’s fifty day simple moving average is $356.94 and its 200 day simple moving average is $343.16. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last issued its 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. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. Visa’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.51 earnings per share. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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 $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is 23.72%.

Insider Buying and Selling at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the sale, the general counsel owned 11,925 shares in the company, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the sale, the insider owned 26,413 shares of the company’s stock, valued at approximately $9,772,810. This represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,108 shares of company stock valued at $36,771,200. Corporate 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.