Exchange Capital Management Inc. Reduces Stock Holdings in Visa Inc. (NYSE:V)

Exchange Capital Management Inc. lowered its stake in shares of Visa Inc. (NYSE:V) by 3.6% during the first quarter, Holdings Channel reports. The fund owned 16,956 shares of the credit-card processor’s stock after selling 630 shares during the quarter. Exchange Capital Management Inc.’s holdings in Visa were worth $4,732,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Evergreen Capital Management LLC boosted its stake in Visa by 1.3% in the 3rd quarter. Evergreen Capital Management LLC now owns 19,789 shares of the credit-card processor’s stock worth $4,552,000 after buying an additional 251 shares during the last quarter. EULAV Asset Management boosted its stake in Visa by 2.3% in the 3rd quarter. EULAV Asset Management now owns 68,522 shares of the credit-card processor’s stock worth $15,761,000 after buying an additional 1,508 shares during the last quarter. Elevatus Welath Management acquired a new stake in Visa in the 3rd quarter worth about $242,000. LaSalle St. Investment Advisors LLC boosted its stake in Visa by 1.7% in the 3rd quarter. LaSalle St. Investment Advisors LLC now owns 3,987 shares of the credit-card processor’s stock worth $917,000 after buying an additional 67 shares during the last quarter. Finally, Kingfisher Capital LLC boosted its stake in Visa by 0.3% in the 3rd quarter. Kingfisher Capital LLC now owns 15,094 shares of the credit-card processor’s stock worth $3,472,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

V stock traded up $2.09 during trading on Tuesday, reaching $265.33. 3,013,674 shares of the company’s stock were exchanged, compared to its average volume of 6,788,438. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a 1-year low of $227.68 and a 1-year high of $290.96. The company’s fifty day moving average price is $273.88 and its 200-day moving average price is $273.58. The firm has a market cap of $485.27 billion, a PE ratio of 29.55, a P/E/G ratio of 1.80 and a beta of 0.95.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, topping 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 company had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. During the same quarter in the previous year, the firm posted $2.09 EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. On average, research analysts expect that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio is presently 23.24%.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the transaction, the director now owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the transaction, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Robert W. Baird raised their price objective on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Macquarie raised their price objective on Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Redburn Atlantic restated a “neutral” rating and issued a $307.00 price objective on shares of Visa in a report on Wednesday, March 27th. UBS Group raised their price objective on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Oppenheimer raised their price objective on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.