Visa Inc. (NYSE:V) Shares Sold by Symmetry Partners LLC

Symmetry Partners LLC trimmed its holdings in Visa Inc. (NYSE:V) by 5.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,670 shares of the credit-card processor’s stock after selling 612 shares during the period. Symmetry Partners LLC’s holdings in Visa were worth $2,978,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors boosted its stake in shares of Visa by 2.7% during the fourth quarter. Capital International Investors now owns 22,943,773 shares of the credit-card processor’s stock valued at $5,973,432,000 after acquiring an additional 596,950 shares during the last quarter. Capital World Investors boosted its stake in shares of Visa by 8.0% during the 4th quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock worth $4,659,169,000 after purchasing an additional 1,323,238 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Visa by 4.7% during the third quarter. Northern Trust Corp now owns 17,073,700 shares of the credit-card processor’s stock worth $3,927,122,000 after buying an additional 763,505 shares in the last quarter. Norges Bank purchased a new position in shares of Visa during the fourth quarter valued at approximately $3,895,015,000. Finally, Ameriprise Financial Inc. grew its stake 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 worth $3,272,846,000 after acquiring an additional 374,489 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Visa 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 sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,200 shares of the 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 of the company’s stock, valued at $150,833.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,402 shares of company stock valued at $9,559,382. 0.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

V has been the topic of several analyst reports. Mizuho raised their price objective on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Evercore ISI lifted their price target on Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Robert W. Baird increased their price objective on shares of Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Piper Sandler started coverage on shares of Visa in a report on Monday, May 13th. They issued an “overweight” rating and a $322.00 target price for the company. Finally, Royal Bank of Canada increased their price target on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus price target of $303.76.

Visa Price Performance

Shares of V opened at $273.62 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The firm has a market cap of $500.43 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 1.86 and a beta of 0.97. Visa Inc. has a 52 week low of $224.98 and a 52 week high of $290.96. The stock has a 50 day moving average of $273.97 and a 200-day moving average of $272.70.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. During the same period in the prior year, the company earned $2.09 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year. As a group, analysts forecast 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 paid a $0.52 dividend. The ex-dividend date was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. Visa’s payout ratio is currently 23.24%.

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.