Investment Partners Asset Management Inc. Sells 91 Shares of Visa Inc. (NYSE:V)

Investment Partners Asset Management Inc. lowered its position in Visa Inc. (NYSE:V) by 3.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 2,731 shares of the credit-card processor’s stock after selling 91 shares during the quarter. Investment Partners Asset Management Inc.’s holdings in Visa were worth $762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of V. Valley National Advisers Inc. boosted its stake in shares of Visa by 11.6% in the third quarter. Valley National Advisers Inc. now owns 816 shares of the credit-card processor’s stock worth $188,000 after acquiring an additional 85 shares during the period. Trexquant Investment LP bought a new position in shares of Visa in the third quarter worth about $5,185,000. Private Advisory Group LLC boosted its stake in shares of Visa by 7.9% in the third quarter. Private Advisory Group LLC now owns 5,317 shares of the credit-card processor’s stock worth $1,223,000 after acquiring an additional 390 shares during the period. Bamco Inc. NY boosted its stake in shares of Visa by 2.4% in the third quarter. Bamco Inc. NY now owns 163,795 shares of the credit-card processor’s stock worth $37,674,000 after acquiring an additional 3,797 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Visa by 82.3% in the third quarter. Tower Research Capital LLC TRC now owns 91,270 shares of the credit-card processor’s stock worth $20,993,000 after acquiring an additional 41,204 shares during the period. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. TD Cowen assumed coverage on Visa in a research note on Thursday, April 11th. They issued a “buy” rating and a $320.00 price objective for the company. Oppenheimer boosted their target price on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Robert W. Baird boosted their target price on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Macquarie boosted their target price on Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, Piper Sandler initiated coverage on Visa in a research report on Monday, May 13th. They set an “overweight” rating and a $322.00 price objective on the stock. Five analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target of $303.56.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction 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 in the company, valued at approximately $150,833.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 transaction of $2,298,952.00. Following the completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lloyd Carney sold 909 shares of Visa stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the transaction, 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. In the last 90 days, insiders have sold 34,402 shares of company stock valued at $9,559,382. 0.19% of the stock is currently owned by corporate insiders.

Visa Stock Down 2.6 %

Shares of NYSE:V opened at $266.62 on Friday. Visa Inc. has a 52-week low of $226.02 and a 52-week high of $290.96. The stock has a market cap of $487.63 billion, a P/E ratio of 29.79, a price-to-earnings-growth ratio of 1.87 and a beta of 0.97. The business’s 50 day moving average is $274.13 and its 200 day moving average is $273.41. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (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 company had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. During the same quarter in the prior year, the firm earned $2.09 earnings per share. Visa’s revenue was up 9.9% compared to the same quarter last year. Sell-side analysts predict that Visa Inc. will post 9.94 EPS for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.78%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

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.