Edgestream Partners L.P. Trims Stock Position in Visa Inc. (NYSE:V)

Edgestream Partners L.P. cut its stake in Visa Inc. (NYSE:V) by 36.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,764 shares of the credit-card processor’s stock after selling 4,364 shares during the period. Edgestream Partners L.P.’s holdings in Visa were worth $2,167,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Livelsberger Financial Advisory purchased a new stake in Visa in the fourth quarter valued at $25,000. Westend Capital Management LLC purchased a new stake in shares of Visa in the first quarter valued at about $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of Visa in the fourth quarter valued at about $32,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Visa in the fourth quarter valued at about $33,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Visa in the fourth quarter valued at about $40,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of V stock traded up $2.25 during trading hours on Monday, hitting $267.71. The company’s stock had a trading volume of 5,280,158 shares, compared to its average volume of 6,847,702. The business has a fifty day moving average of $272.00 and a 200-day moving average of $274.44. The stock has a market cap of $489.63 billion, a price-to-earnings ratio of 29.84, a P/E/G ratio of 1.85 and a beta of 0.95. Visa Inc. has a twelve month low of $227.68 and a twelve month high of $290.96. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53.

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

Visa Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on V shares. Bank of America reaffirmed a “neutral” rating and issued a $297.00 target price (down from $305.00) on shares of Visa in a report on Wednesday, July 10th. Robert W. Baird upped their target price on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Royal Bank of Canada boosted their price target on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Piper Sandler began coverage on shares of Visa in a research note on Monday, May 13th. They set an “overweight” rating and a $322.00 price target on the stock. Finally, Evercore ISI dropped their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Six investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $304.72.

Insider Activity

In related news, insider Paul D. Fabara sold 25,293 shares of the company’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 transaction, the insider now 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 is accessible through this link. In related news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction that occurred on 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 owns 2,591 shares of the company’s stock, valued at $713,950.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 25,293 shares of the company’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 transaction, the insider now directly 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.

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.