Park Avenue Securities LLC Sells 480 Shares of Visa Inc. (NYSE:V)

Park Avenue Securities LLC trimmed its position in shares of Visa Inc. (NYSE:V) by 0.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,410 shares of the credit-card processor’s stock after selling 480 shares during the period. Park Avenue Securities LLC’s holdings in Visa were worth $20,208,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Nadler Financial Group Inc. grew its position in shares of Visa by 2.4% during the fourth quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock valued at $495,000 after purchasing an additional 44 shares in the last quarter. Towerpoint Wealth LLC bought a new position in shares of Visa during the 4th quarter valued at approximately $216,000. Andrew Hill Investment Advisors Inc. purchased a new position in shares of Visa in the fourth quarter valued at $3,427,000. Richelieu Gestion SA purchased a new stake in Visa during the fourth quarter valued at $307,000. Finally, Cooper Financial Group grew its stake in shares of Visa by 6.4% in the 4th quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock worth $2,064,000 after buying an additional 476 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of NYSE V opened at $275.20 on Friday. Visa Inc. has a fifty-two week low of $225.50 and a fifty-two week high of $290.96. The company has a market cap 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 debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. The business has a 50-day simple moving average of $273.97 and a two-hundred day simple moving average of $272.88.

Visa (NYSE:V) last announced its quarterly earnings data 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 firm had revenue of $8.78 billion during 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%. Visa’s revenue was up 9.9% on a year-over-year basis. During the same period last year, the firm posted $2.09 EPS. As a group, equities analysts expect that Visa Inc. will post 9.94 EPS for the current fiscal 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 paid a dividend of $0.52 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.76%. Visa’s payout ratio is presently 23.24%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,200 shares of the firm’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 completion of 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 filing with the SEC, which is available at the SEC website. In other Visa news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was 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 directly owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 directly owns 538 shares of the company’s stock, valued at $150,833.68. The disclosure for this sale can be found here. Insiders have sold a total of 34,402 shares of company stock worth $9,559,382 over the last quarter. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Evercore ISI raised their price target on Visa from $325.00 to $335.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Piper Sandler initiated coverage on Visa in a research report on Monday, May 13th. They issued an “overweight” rating and a $322.00 price objective on the stock. Wells Fargo & Company raised their target price on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Finally, Oppenheimer increased their price objective on shares of Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $303.76.

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.