CRA Financial Services LLC Reduces Holdings in Visa Inc. (NYSE:V)

CRA Financial Services LLC trimmed its stake in Visa Inc. (NYSE:V) by 0.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,180 shares of the credit-card processor’s stock after selling 58 shares during the period. Visa accounts for about 1.0% of CRA Financial Services LLC’s investment portfolio, making the stock its 22nd biggest holding. CRA Financial Services LLC’s holdings in Visa were worth $4,795,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Nomura Holdings Inc. lifted its position in Visa by 101.7% during the 3rd quarter. Nomura Holdings Inc. now owns 1,993 shares of the credit-card processor’s stock valued at $458,000 after acquiring an additional 116,934 shares during the period. Schonfeld Strategic Advisors LLC lifted its position in Visa by 156.7% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 72,096 shares of the credit-card processor’s stock valued at $16,583,000 after acquiring an additional 44,013 shares during the period. Waverly Advisors LLC lifted its position in Visa by 5.4% during the 3rd quarter. Waverly Advisors LLC now owns 14,550 shares of the credit-card processor’s stock valued at $3,347,000 after acquiring an additional 744 shares during the period. Hodges Capital Management Inc. purchased a new position in Visa during the 3rd quarter valued at about $1,000,000. Finally, SRS Capital Advisors Inc. lifted its position in Visa by 66.1% during the 3rd quarter. SRS Capital Advisors Inc. now owns 9,771 shares of the credit-card processor’s stock valued at $2,247,000 after acquiring an additional 3,890 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on V shares. Evercore ISI lowered their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday. UBS Group raised their price objective on shares of Visa from $315.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Mizuho raised their price objective on shares of Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Wedbush raised their price objective on shares of Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, Robert W. Baird raised their price objective on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $303.56.

Visa Stock Performance

NYSE V traded down $4.12 during trading hours on Friday, hitting $262.47. 13,957,270 shares of the company’s stock traded hands, compared to its average volume of 8,762,266. The business’s fifty day moving average price is $273.88 and its two-hundred day moving average price is $273.50. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $480.04 billion, a P/E ratio of 29.33, a P/E/G ratio of 1.82 and a beta of 0.97. Visa Inc. has a 52 week low of $227.68 and a 52 week high of $290.96.

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

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s dividend payout ratio is currently 23.24%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction on 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 owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $150,833.68. 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 90 days. 0.19% of the stock is currently owned by corporate 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.