Corundum Group Inc. Sells 75 Shares of Visa Inc. (NYSE:V)

Corundum Group Inc. lessened its stake in Visa Inc. (NYSE:V) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,581 shares of the credit-card processor’s stock after selling 75 shares during the quarter. Corundum Group Inc.’s holdings in Visa were worth $1,278,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alaethes Wealth LLC lifted its position in shares of Visa by 0.4% in the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock worth $2,302,000 after purchasing an additional 37 shares in the last quarter. Garden State Investment Advisory Services LLC lifted its position in shares of Visa by 1.8% in the fourth quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock worth $571,000 after purchasing an additional 38 shares in the last quarter. Holistic Financial Partners lifted its position in shares of Visa by 2.0% in the fourth quarter. Holistic Financial Partners now owns 1,975 shares of the credit-card processor’s stock worth $514,000 after purchasing an additional 39 shares in the last quarter. GoalVest Advisory LLC lifted its position in shares of Visa by 3.4% in the fourth quarter. GoalVest Advisory LLC now owns 1,217 shares of the credit-card processor’s stock worth $317,000 after purchasing an additional 40 shares in the last quarter. Finally, Destiny Wealth Partners LLC lifted its position in shares of Visa by 2.5% in the fourth quarter. Destiny Wealth Partners LLC now owns 1,668 shares of the credit-card processor’s stock worth $433,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly 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 90 days, insiders sold 34,402 shares of company stock valued at $9,559,382. 0.19% of the stock is currently owned by insiders.

Visa Trading Down 2.6 %

V stock opened at $266.62 on Friday. 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 company’s 50-day simple moving average is $274.13 and its 200 day simple moving average is $273.41. Visa Inc. has a 52 week low of $226.02 and a 52 week high of $290.96. The company has a market capitalization of $487.63 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 1.87 and a beta of 0.97.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $8.62 billion. During the same quarter in the prior year, the business posted $2.09 earnings per share. Visa’s revenue was up 9.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors 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 yield of 0.78%. Visa’s dividend payout ratio is 23.24%.

Wall Street Analyst Weigh In

V has been the topic of a number of research reports. Mizuho boosted their price objective on shares of Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Oppenheimer boosted their target price on shares of Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Wedbush boosted their target price on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Macquarie boosted their target price on shares of Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Finally, TD Cowen initiated coverage on shares of Visa in a report on Thursday, April 11th. They set a “buy” rating and a $320.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $303.56.

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.