Violich Capital Management Inc. Increases Stake in Visa Inc. (NYSE:V)

Violich Capital Management Inc. lifted its stake in shares of Visa Inc. (NYSE:V) by 0.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 148,035 shares of the credit-card processor’s stock after purchasing an additional 314 shares during the quarter. Visa accounts for about 7.0% of Violich Capital Management Inc.’s portfolio, making the stock its 4th largest position. Violich Capital Management Inc.’s holdings in Visa were worth $51,880,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in V. Hirtle Callaghan & Co LLC lifted its stake in shares of Visa by 1.3% in the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock valued at $724,000 after purchasing an additional 29 shares during the period. FWL Investment Management LLC lifted its stake in shares of Visa by 0.5% in the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor’s stock valued at $2,005,000 after purchasing an additional 29 shares during the period. Capstone Financial Advisors Inc. lifted its stake in shares of Visa by 3.6% in the fourth quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor’s stock valued at $276,000 after purchasing an additional 30 shares during the period. Headinvest LLC lifted its stake in shares of Visa by 0.8% in the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor’s stock valued at $1,265,000 after purchasing an additional 30 shares during the period. Finally, Kennebec Savings Bank lifted its stake in shares of Visa by 0.9% in the first quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor’s stock valued at $1,182,000 after purchasing an additional 30 shares during the period. 82.15% of the stock is owned by institutional investors.

Visa Stock Down 1.0%

Shares of NYSE V opened at $347.09 on Wednesday. The firm has a market capitalization of $640.43 billion, a PE ratio of 34.88, a price-to-earnings-growth ratio of 2.38 and a beta of 0.92. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $375.51. The firm’s 50-day moving average is $356.94 and its 200-day moving average is $343.11.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter last year, the firm earned $2.51 EPS. Visa’s quarterly revenue was up 9.3% compared to the same quarter last year. Equities analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.68%. Visa’s dividend payout ratio (DPR) is currently 23.72%.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the sale, the insider directly owned 26,413 shares in the company, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm’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 transaction of $889,868.50. Following the sale, the general counsel owned 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,108 shares of company stock worth $36,771,200. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. BMO Capital Markets lifted their price target on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Evercore ISI assumed coverage on shares of Visa in a report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price target for the company. William Blair reiterated an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on shares of Visa in a report on Monday, June 2nd. They set a “neutral” rating for the company. Finally, UBS Group lifted their price target on shares of Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average price target of $372.84.

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.