CRA Financial Services LLC Trims Position in Visa Inc. (NYSE:V)

CRA Financial Services LLC trimmed its holdings in shares of Visa Inc. (NYSE:V) by 0.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,180 shares of the credit-card processor’s stock after selling 58 shares during the quarter. Visa accounts for approximately 1.0% of CRA Financial Services LLC’s portfolio, making the stock its 22nd biggest position. CRA Financial Services LLC’s holdings in Visa were worth $4,795,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of V. Livelsberger Financial Advisory acquired a new position in Visa in the 4th quarter valued at about $25,000. Westend Capital Management LLC acquired a new position in Visa in the 1st quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new position in Visa in the 4th quarter valued at about $32,000. Frank Rimerman Advisors LLC acquired a new position in Visa in the 4th quarter valued at about $33,000. Finally, Valued Wealth Advisors LLC acquired a new position in Visa in the 4th quarter valued at about $37,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on V shares. Redburn Atlantic reissued a “neutral” rating and set a $307.00 price objective on shares of Visa in a research report on Wednesday, March 27th. Piper Sandler started coverage on Visa in a research report on Monday, May 13th. They set an “overweight” rating and a $322.00 price objective for the company. Wells Fargo & Company boosted their price objective on Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Citigroup boosted their price objective on Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Mizuho boosted their price objective on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $303.56.

Visa Stock Performance

Shares of NYSE V traded down $4.12 during mid-day trading on Friday, hitting $262.47. 13,957,270 shares of the company were exchanged, compared to its average volume of 8,762,266. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The stock has a 50 day simple moving average of $273.88 and a 200-day simple moving average of $273.50. Visa Inc. has a 1-year low of $227.68 and a 1-year high of $290.96. The firm has a market cap of $480.04 billion, a price-to-earnings ratio of 29.33, a price-to-earnings-growth ratio of 1.82 and a beta of 0.97.

Visa (NYSE:V) last issued its quarterly earnings results 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 return on equity of 51.23% and a net margin of 53.87%. The firm had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same period last year, the company earned $2.09 earnings per share. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, sell-side analysts forecast 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 issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio is presently 23.24%.

Insider Buying and Selling

In other Visa news, Director Lloyd Carney sold 909 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares in the company, valued at $713,950.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lloyd Carney sold 909 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of 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. Insiders sold a total of 34,402 shares of company stock valued at $9,559,382 over the last three months. 0.19% of the stock is currently 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.