Visa Inc. (NYSE:V) Position Trimmed by Overbrook Management Corp

Overbrook Management Corp decreased its stake in shares of Visa Inc. (NYSE:V) by 21.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,894 shares of the credit-card processor’s stock after selling 15,959 shares during the quarter. Visa comprises 4.4% of Overbrook Management Corp’s holdings, making the stock its 7th biggest position. Overbrook Management Corp’s holdings in Visa were worth $16,436,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in V. Livelsberger Financial Advisory purchased a new position in shares of Visa during the fourth quarter worth $25,000. Westend Capital Management LLC acquired a new stake in Visa during the first quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new position in Visa in the fourth quarter valued at approximately $32,000. Frank Rimerman Advisors LLC purchased a new stake in Visa in the 4th quarter worth approximately $33,000. Finally, Valued Wealth Advisors LLC purchased a new stake in Visa in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction 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 directly owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Lloyd Carney sold 909 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The disclosure for this sale can be found here. Insiders have sold 34,402 shares of company stock valued at $9,559,382 over the last quarter. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Performance

Shares of V stock traded down $6.98 during mid-day trading on Thursday, hitting $266.62. The stock had a trading volume of 10,526,284 shares, compared to its average volume of 6,751,320. Visa Inc. has a fifty-two week low of $226.02 and a fifty-two week high of $290.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. The company’s 50-day simple moving average is $274.13 and its 200-day simple moving average is $273.41. The firm has a market cap of $487.63 billion, a PE ratio of 30.17, a PEG ratio of 1.87 and a beta of 0.97.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. During the same period in the previous year, the business earned $2.09 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. Sell-side analysts anticipate that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s payout ratio is currently 23.24%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Oppenheimer lifted their price target on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. UBS Group boosted their price target on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Macquarie increased their price objective on shares of Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Wedbush upped their price target on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, TD Cowen started coverage on Visa in a report on Thursday, April 11th. They issued a “buy” rating and a $320.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $303.56.

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.