Pacific Sage Partners LLC Reduces Stock Position in Visa Inc. (NYSE:V)

Pacific Sage Partners LLC lessened its stake in shares of Visa Inc. (NYSE:V) by 0.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,618 shares of the credit-card processor’s stock after selling 41 shares during the quarter. Pacific Sage Partners LLC’s holdings in Visa were worth $1,289,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of V. FMR LLC increased its stake in shares of Visa by 4.7% during the 3rd quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock valued at $11,582,785,000 after acquiring an additional 2,257,605 shares during the last quarter. Capital International Investors increased its position in Visa by 2.7% during the fourth quarter. Capital International Investors now owns 22,943,773 shares of the credit-card processor’s stock worth $5,973,432,000 after purchasing an additional 596,950 shares during the last quarter. Capital World Investors raised its stake in Visa by 8.0% during the fourth quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock worth $4,659,169,000 after purchasing an additional 1,323,238 shares during the period. Northern Trust Corp boosted its holdings in shares of Visa by 4.7% in the 3rd quarter. Northern Trust Corp now owns 17,073,700 shares of the credit-card processor’s stock valued at $3,927,122,000 after purchasing an additional 763,505 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Visa during the 4th quarter valued at $3,895,015,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In other news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the transaction, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $150,833.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,874 shares of company stock worth $5,506,827. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on V. Evercore ISI lifted their target price on Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. UBS Group lifted their price objective on Visa from $315.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Redburn Atlantic reissued a “neutral” rating and set a $307.00 target price on shares of Visa in a research report on Wednesday, March 27th. Raymond James lifted their price target on shares of Visa from $287.00 to $311.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Finally, TD Cowen initiated coverage on shares of Visa in a research report on Thursday, April 11th. They issued a “buy” rating and a $320.00 price objective for the company. Five analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $302.58.

Visa Stock Down 1.2 %

Shares of V traded down $3.20 during trading on Tuesday, reaching $268.64. The company’s stock had a trading volume of 6,375,486 shares, compared to its average volume of 5,935,847. Visa Inc. has a twelve month low of $216.14 and a twelve month high of $290.96. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The company has a market cap of $493.36 billion, a price-to-earnings ratio of 30.02, a P/E/G ratio of 1.89 and a beta of 0.96. The company has a fifty day moving average of $278.98 and a two-hundred day moving average of $265.19.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.08. The firm had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.09 earnings per share. On average, sell-side analysts predict that Visa Inc. will post 9.89 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be paid a $0.52 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.77%. Visa’s dividend payout ratio (DPR) is 23.24%.

Visa Company 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.