Cox Capital Mgt LLC Sells 474 Shares of Visa Inc. (NYSE:V)

Cox Capital Mgt LLC cut its holdings in Visa Inc. (NYSE:V) by 2.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 17,346 shares of the credit-card processor’s stock after selling 474 shares during the period. Visa makes up about 3.0% of Cox Capital Mgt LLC’s portfolio, making the stock its 5th largest holding. Cox Capital Mgt LLC’s holdings in Visa were worth $4,841,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank bought a new stake in Visa in the fourth quarter valued at $3,895,015,000. International Assets Investment Management LLC increased its holdings in shares of Visa by 17,418.7% in the 4th quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock worth $1,233,338,000 after acquiring an additional 4,710,188 shares during the period. Public Employees Retirement Association of Colorado lifted its position in Visa by 14,306.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock valued at $390,595,000 after purchasing an additional 1,489,856 shares during the last quarter. Capital World Investors boosted its stake in Visa by 8.0% during the 4th quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock valued at $4,659,169,000 after purchasing an additional 1,323,238 shares during the period. Finally, Capital Research Global Investors grew its position in Visa by 139.4% in the 4th quarter. Capital Research Global Investors now owns 2,185,077 shares of the credit-card processor’s stock worth $568,885,000 after purchasing an additional 1,272,211 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Visa 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 value of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the sale, the chief executive officer now 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 ninety days, insiders have sold 34,402 shares of company stock valued at $9,559,382. Company insiders own 0.19% of the company’s stock.

Visa Price Performance

V stock opened at $275.20 on Friday. Visa Inc. has a one year low of $225.50 and a one year high of $290.96. The firm has a 50-day moving average of $273.97 and a two-hundred day moving average of $272.88. The firm has a market capitalization of $503.32 billion, a PE ratio of 30.75, a P/E/G ratio of 1.89 and a beta of 0.97. 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $8.62 billion. During the same quarter in the previous year, the business earned $2.09 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year. On average, analysts forecast that Visa Inc. will post 9.94 earnings per share 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 issued a dividend of $0.52 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s dividend payout ratio is 23.24%.

Wall Street Analysts Forecast Growth

V has been the topic of a number of recent analyst reports. Oppenheimer lifted their price target on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Macquarie lifted their target price on Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Mizuho boosted their price target on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Redburn Atlantic reissued a “neutral” rating and set a $307.00 price target on shares of Visa in a report on Wednesday, March 27th. Finally, William Blair reaffirmed an “outperform” rating on shares of Visa in a report on Wednesday, April 24th. Five 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $303.76.

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.