Saxon Interests Inc. Sells 61 Shares of Visa Inc. (NYSE:V)

Saxon Interests Inc. lowered its holdings in Visa Inc. (NYSE:V) by 3.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,931 shares of the credit-card processor’s stock after selling 61 shares during the quarter. Saxon Interests Inc.’s holdings in Visa were worth $539,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Westend Capital Management LLC acquired a new position in Visa in the first quarter valued at about $25,000. Livelsberger Financial Advisory acquired a new position in shares of Visa during the fourth quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new position in shares of Visa during the fourth quarter worth approximately $32,000. Frank Rimerman Advisors LLC acquired a new position in shares of Visa during the fourth quarter worth approximately $33,000. Finally, Valued Wealth Advisors LLC acquired a new position in shares of Visa during the fourth quarter worth approximately $37,000. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on V shares. Citigroup upped their target price 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. Piper Sandler started coverage on shares of Visa in a research report on Monday, May 13th. They set an “overweight” rating and a $322.00 target price on the stock. Evercore ISI reduced their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. TD Cowen assumed coverage on shares of Visa in a research report on Thursday, April 11th. They set a “buy” rating and a $320.00 target price on the stock. Finally, Mizuho increased their price objective on shares of Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $303.56.

Visa Trading Up 1.9 %

NYSE:V traded up $4.92 during trading hours on Tuesday, hitting $268.16. The stock had a trading volume of 8,696,822 shares, compared to its average volume of 6,833,536. The business’s 50 day moving average is $273.70 and its 200-day moving average is $273.61. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. Visa Inc. has a one year low of $227.68 and a one year high of $290.96. The company has a market cap of $490.45 billion, a price-to-earnings ratio of 29.77, a P/E/G ratio of 1.80 and a beta of 0.95.

Visa (NYSE:V) last issued 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 net margin of 53.87% and a return on equity of 51.23%. The company had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same quarter in the prior year, the firm earned $2.09 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year. Sell-side analysts anticipate that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently announced 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 yield of 0.78%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s payout ratio is 23.24%.

Insider Buying and Selling

In related news, Director Lloyd Carney sold 909 shares of the stock in a transaction on Friday, April 26th. The shares were 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 owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Visa news, Director Lloyd Carney sold 909 shares of the stock in a transaction 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 sale, the director now owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction 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 sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate 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.