Visa Inc. (NYSE:V) Position Trimmed by Buckingham Capital Management Inc.

Buckingham Capital Management Inc. trimmed its stake in Visa Inc. (NYSE:V) by 3.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,290 shares of the credit-card processor’s stock after selling 1,457 shares during the quarter. Visa accounts for 1.5% of Buckingham Capital Management Inc.’s portfolio, making the stock its 22nd largest position. Buckingham Capital Management Inc.’s holdings in Visa were worth $12,081,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Livelsberger Financial Advisory acquired a new position in Visa in the 4th quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new position in Visa in the fourth quarter worth approximately $32,000. Frank Rimerman Advisors LLC bought a new position in Visa during the fourth quarter valued at approximately $33,000. Valued Wealth Advisors LLC acquired a new stake in Visa in the fourth quarter valued at approximately $37,000. Finally, Vermillion & White Wealth Management Group LLC bought a new stake in Visa in the fourth quarter worth approximately $40,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Redburn Atlantic restated a “neutral” rating and set a $307.00 price target on shares of Visa in a report on Wednesday, March 27th. Macquarie raised their target price on Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Piper Sandler started coverage on Visa in a research note on Monday, May 13th. They set an “overweight” rating and a $322.00 price target for the company. Oppenheimer increased their price objective on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, Royal Bank of Canada boosted their target price on Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a report 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $303.76.

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 25,293 shares of the 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 approximately $4,959,322.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction 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 sale, the insider now 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 can be accessed through the SEC website. Also, Director Lloyd Carney sold 909 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the sale, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The disclosure for this sale can be found here. Insiders have sold a total of 34,402 shares of company stock valued at $9,559,382 over the last quarter. 0.19% of the stock is owned by company insiders.

Visa Price Performance

Shares of V stock opened at $275.22 on Friday. Visa Inc. has a 12 month low of $225.50 and a 12 month high of $290.96. The company has a market capitalization of $503.36 billion, a P/E ratio of 30.75, a P/E/G ratio of 1.89 and a beta of 0.97. The stock has a 50 day moving average of $273.97 and a two-hundred day moving average of $273.01. 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 issued its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping the consensus estimate of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. During the same period last year, the business earned $2.09 earnings per share. Visa’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, equities analysts expect that Visa Inc. will post 9.94 EPS for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.08 annualized dividend and a dividend yield of 0.76%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Visa Company 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.