Exchange Capital Management Inc. Sells 630 Shares of Visa Inc. (NYSE:V)

Exchange Capital Management Inc. reduced its holdings in shares of Visa Inc. (NYSE:V) by 3.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,956 shares of the credit-card processor’s stock after selling 630 shares during the quarter. Exchange Capital Management Inc.’s holdings in Visa were worth $4,732,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Synergy Asset Management LLC lifted its stake in Visa by 62.4% in the 1st quarter. Synergy Asset Management LLC now owns 11,168 shares of the credit-card processor’s stock worth $3,117,000 after purchasing an additional 4,290 shares in the last quarter. Westhampton Capital LLC lifted its stake in Visa by 3.0% in the 1st quarter. Westhampton Capital LLC now owns 2,065 shares of the credit-card processor’s stock worth $576,000 after purchasing an additional 60 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. lifted its stake in Visa by 9.3% in the 1st quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 2,845 shares of the credit-card processor’s stock worth $794,000 after purchasing an additional 243 shares in the last quarter. Cullinan Associates Inc. lifted its stake in Visa by 129.5% in the 1st quarter. Cullinan Associates Inc. now owns 64,365 shares of the credit-card processor’s stock worth $17,963,000 after purchasing an additional 36,324 shares in the last quarter. Finally, Hexagon Capital Partners LLC lifted its stake in Visa by 9.5% in the 1st quarter. Hexagon Capital Partners LLC now owns 3,938 shares of the credit-card processor’s stock worth $1,099,000 after purchasing an additional 341 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Price Performance

Visa stock traded up $2.09 during mid-day trading on Tuesday, reaching $265.33. 3,013,674 shares of the company’s stock traded hands, compared to its average volume of 6,788,438. The company has a market cap of $485.27 billion, a price-to-earnings ratio of 29.55, a PEG ratio of 1.80 and a beta of 0.95. The stock has a 50 day moving average of $273.88 and a two-hundred day moving average of $273.58. 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 Inc. has a 12-month low of $227.68 and a 12-month high of $290.96.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $8.62 billion. During the same quarter in the prior year, the firm posted $2.09 earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. Equities analysts forecast that Visa Inc. will post 9.94 earnings per share for the current 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 paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.78%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio is presently 23.24%.

Wall Street Analyst Weigh In

V has been the topic of a number of research analyst reports. Macquarie increased their price target on shares of Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Wedbush increased their price target on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Citigroup increased their target price on shares of Visa from $314.00 to $321.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Royal Bank of Canada increased their target price on shares of Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, Piper Sandler initiated coverage on shares of Visa in a report on Monday, May 13th. They set an “overweight” rating and a $322.00 target price on the stock. Five research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $303.56.

Insider Buying and Selling

In other Visa 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 transaction of $7,009,954.95. Following the transaction, the insider now directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Lloyd Carney sold 909 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were 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 directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

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.