Royal Fund Management LLC Sells 5,509 Shares of Visa Inc. (NYSE:V)

Royal Fund Management LLC trimmed its position in shares of Visa Inc. (NYSE:V) by 83.8% during the first quarter, HoldingsChannel reports. The firm owned 1,062 shares of the credit-card processor’s stock after selling 5,509 shares during the quarter. Royal Fund Management LLC’s holdings in Visa were worth $296,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in V. Capital International Investors boosted its stake in Visa by 2.7% in the 4th quarter. Capital International Investors now owns 22,943,773 shares of the credit-card processor’s stock worth $5,973,432,000 after purchasing an additional 596,950 shares during the period. Capital World Investors lifted its holdings in shares of Visa by 8.0% in the fourth 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 in the last quarter. Norges Bank bought a new position in shares of Visa during the fourth quarter worth about $3,895,015,000. Ameriprise Financial Inc. raised its position in Visa by 2.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock valued at $3,272,846,000 after buying an additional 374,489 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in Visa by 0.7% in the 4th quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after acquiring an additional 85,123 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on V. Oppenheimer lifted their price objective on shares of Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Piper Sandler started coverage on shares of Visa in a research note on Monday, May 13th. They set an “overweight” rating and a $322.00 price objective for the company. Robert W. Baird upped their target price on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. 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. Finally, Evercore ISI increased their price objective on Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $303.76.

Visa Stock Performance

Shares of NYSE:V traded up $1.55 on Monday, reaching $276.77. 981,294 shares of the company’s stock were exchanged, compared to its average volume of 6,372,083. Visa Inc. has a twelve month low of $226.02 and a twelve month high of $290.96. The company has a fifty day moving average of $273.97 and a 200-day moving average of $273.14. The company has a market capitalization of $506.20 billion, a price-to-earnings ratio of 30.75, a PEG 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 issued 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. The business had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.09 earnings per share. On average, research analysts predict that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 25,293 shares of the 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 sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at $150,833.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 25,293 shares of the 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 transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. Insiders sold 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 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.