Journey Advisory Group LLC Lowers Stake in Visa Inc. (NYSE:V)

Journey Advisory Group LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,442 shares of the credit-card processor’s stock after selling 219 shares during the period. Journey Advisory Group LLC’s holdings in Visa were worth $4,541,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. WealthPlan Investment Management LLC raised its position in Visa by 222.1% in the 3rd quarter. WealthPlan Investment Management LLC now owns 11,165 shares of the credit-card processor’s stock worth $2,568,000 after purchasing an additional 7,699 shares during the period. Washington Trust Bank increased its position in shares of Visa by 5.7% in the third quarter. Washington Trust Bank now owns 4,219 shares of the credit-card processor’s stock valued at $970,000 after acquiring an additional 228 shares during the period. Smithfield Trust Co increased its position in shares of Visa by 0.7% during the third quarter. Smithfield Trust Co now owns 15,191 shares of the credit-card processor’s stock valued at $3,493,000 after buying an additional 100 shares during the period. Schechter Investment Advisors LLC increased its position in shares of Visa by 5.2% during the third quarter. Schechter Investment Advisors LLC now owns 25,106 shares of the credit-card processor’s stock valued at $5,775,000 after buying an additional 1,240 shares during the period. Finally, Sigma Planning Corp increased its position in shares of Visa by 11.9% during the third quarter. Sigma Planning Corp now owns 42,505 shares of the credit-card processor’s stock valued at $9,777,000 after buying an additional 4,533 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V stock traded down $3.37 on Tuesday, hitting $271.12. 6,212,120 shares of the stock traded hands, compared to its average volume of 6,321,552. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market capitalization of $495.86 billion, a PE ratio of 30.29, a PEG ratio of 1.88 and a beta of 0.95. Visa Inc. has a 1-year low of $216.14 and a 1-year high of $290.96. The company’s fifty day moving average is $276.49 and its 200 day moving average is $270.30.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. The company had revenue of $8.78 billion for the quarter, compared to analysts’ expectations 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 period last year, the business posted $2.09 earnings per share. On average, equities research analysts predict that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Thursday, May 16th. Visa’s payout ratio is currently 23.24%.

Analysts Set New Price Targets

V has been the topic of a number of recent research reports. Redburn Atlantic restated a “neutral” rating and issued a $307.00 price objective on shares of Visa in a report on Wednesday, March 27th. Citigroup increased their price target on shares of Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Evercore ISI increased their price target on shares of Visa from $325.00 to $335.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Royal Bank of Canada raised their price objective 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. Finally, Oppenheimer raised their price objective on shares of Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $303.76.

Insider Buying and Selling

In related 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 value 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 filing with the Securities & Exchange Commission, which is available at the SEC website. In other Visa news, insider Paul D. Fabara sold 25,293 shares of Visa 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 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 document filed with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 538 shares in the company, 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 valued at $9,559,382 over the last three months. Company insiders own 0.19% of the company’s stock.

Visa 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.