Sagace Wealth Management LLC Sells 265 Shares of Visa Inc. (NYSE:V)

Sagace Wealth Management LLC reduced its stake in shares of Visa Inc. (NYSE:V) by 15.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,472 shares of the credit-card processor’s stock after selling 265 shares during the period. Sagace Wealth Management LLC’s holdings in Visa were worth $516,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Bradley & Co. Private Wealth Management LLC purchased a new position in Visa in the 4th quarter worth approximately $27,000. POM Investment Strategies LLC increased its position in shares of Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after purchasing an additional 32 shares during the last quarter. Compass Planning Associates Inc purchased a new position in shares of Visa during the 4th quarter valued at about $32,000. NewSquare Capital LLC purchased a new stake in Visa in the fourth quarter worth approximately $35,000. Finally, FPC Investment Advisory Inc. raised its stake in shares of Visa by 377.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock worth $36,000 after acquiring an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider now owns 26,413 shares in the company, valued at $9,772,810. The trade was a 63.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the sale, the chief executive officer now owns 537 shares of the company’s stock, valued at $185,576.46. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 168,162 shares of company stock valued at $58,645,479. Insiders own 0.13% of the company’s stock.

Visa Stock Up 0.7%

NYSE:V opened at $373.19 on Thursday. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $688.59 billion, a PE ratio of 37.62, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The company has a 50-day moving average of $347.68 and a 200 day moving average of $336.77.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 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 analyst estimates of $9.57 billion. During the same period in the previous year, the company posted $2.51 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s payout ratio is currently 23.72%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on V shares. Wall Street Zen upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. The Goldman Sachs Group began coverage on Visa in a report on Monday, June 2nd. They set a “neutral” rating for the company. Macquarie cut their price target on shares of Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Finally, UBS Group lifted their price target on Visa from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $372.80.

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.