Visa Inc. (NYSE:V) Stock Holdings Cut by Mogy Joel R Investment Counsel Inc.

Mogy Joel R Investment Counsel Inc. decreased its position in Visa Inc. (NYSE:V) by 0.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,493 shares of the credit-card processor’s stock after selling 131 shares during the quarter. Visa makes up approximately 4.2% of Mogy Joel R Investment Counsel Inc.’s portfolio, making the stock its 7th largest position. Mogy Joel R Investment Counsel Inc.’s holdings in Visa were worth $65,008,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital & Planning LLC raised its stake in shares of Visa by 21.2% during the 4th quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor’s stock worth $300,000 after purchasing an additional 166 shares during the period. Sovereign Investment Advisors LLC purchased a new stake in Visa during the fourth quarter worth about $424,000. Brighton Jones LLC raised its position in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after acquiring an additional 6,883 shares during the period. Union Bancaire Privee UBP SA purchased a new position in Visa in the fourth quarter valued at about $202,074,000. Finally, Revolve Wealth Partners LLC boosted its stake in Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after acquiring an additional 4,817 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

V has been the topic of a number of research reports. Citigroup assumed coverage on shares of Visa in a report on Monday, June 2nd. They issued a “buy” rating on the stock. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Visa in a research report on Thursday, February 13th. Evercore ISI began coverage on Visa in a research report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price target on the stock. Wall Street Zen upgraded Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Finally, The Goldman Sachs Group started coverage on Visa in a research note on Monday, June 2nd. They issued a “neutral” rating on the stock. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $372.80.

Visa Stock Down 0.6%

Shares of NYSE:V opened at $371.11 on Friday. The firm has a fifty day moving average price of $348.87 and a two-hundred day moving average price of $337.17. The company has a market cap of $684.76 billion, a price-to-earnings ratio of 37.41, a PEG ratio of 2.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a one year low of $252.70 and a one year high of $375.51.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter last year, the business posted $2.51 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. Analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.64%. Visa’s payout ratio is currently 23.72%.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction on 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 of the company’s stock, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total value of $3,020,792.80. Following the sale, the chief executive officer now owns 537 shares in the company, valued at $188,186.28. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 140,448 shares of company stock worth $50,133,659. 0.13% of the stock is currently owned by insiders.

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.