Seven Mile Advisory Trims Position in Visa Inc. $V

Seven Mile Advisory lessened its stake in shares of Visa Inc. (NYSE:VFree Report) by 27.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,886 shares of the credit-card processor’s stock after selling 1,827 shares during the period. Seven Mile Advisory’s holdings in Visa were worth $1,713,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Invariant Investment Management purchased a new stake in Visa during the fourth quarter worth about $969,000. Vanguard Group Inc. increased its stake in Visa by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock worth $56,455,834,000 after purchasing an additional 1,054,343 shares during the period. Swiss Life Asset Management Ltd increased its stake in Visa by 4.7% during the third quarter. Swiss Life Asset Management Ltd now owns 527,530 shares of the credit-card processor’s stock worth $180,088,000 after purchasing an additional 23,863 shares during the period. Savvy Advisors Inc. increased its stake in Visa by 30.1% during the fourth quarter. Savvy Advisors Inc. now owns 28,922 shares of the credit-card processor’s stock worth $10,143,000 after purchasing an additional 6,688 shares during the period. Finally, Ticino Wealth purchased a new stake in Visa during the fourth quarter worth about $1,837,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

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Visa Stock Performance

Shares of Visa stock opened at $324.25 on Tuesday. Visa Inc. has a one year low of $293.89 and a one year high of $360.22. The company has a market cap of $581.62 billion, a PE ratio of 28.24, a P/E/G ratio of 1.72 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09. The business has a 50-day simple moving average of $319.16 and a 200-day simple moving average of $324.30.

Visa (NYSE:VGet Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. Visa had a return on equity of 65.00% and a net margin of 51.68%.The business had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $10.75 billion. During the same period in the previous year, the company posted $2.76 earnings per share. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. On average, equities research analysts forecast that Visa Inc. will post 13.09 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s payout ratio is currently 23.34%.

Visa declared that its Board of Directors has initiated a share buyback plan on Tuesday, April 28th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. BMO Capital Markets assumed coverage on shares of Visa in a research note on Tuesday, April 21st. They set an “outperform” rating and a $365.00 price target on the stock. Sanford C. Bernstein reiterated an “outperform” rating and set a $450.00 price target on shares of Visa in a research note on Tuesday, June 2nd. Raymond James Financial reiterated an “outperform” rating and set a $389.00 price target on shares of Visa in a research note on Wednesday, April 29th. UBS Group boosted their price target on shares of Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price target on shares of Visa in a research note on Wednesday, April 29th. Six research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Visa has a consensus rating of “Buy” and an average price target of $387.78.

Check Out Our Latest Report on V

Insider Transactions at Visa

In other news, CFO Chris Suh sold 10,639 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the transaction, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at approximately $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 31,455 shares of the business’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total value of $10,699,103.70. Following the transaction, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,161,284.36. This represents a 67.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.12% of the company’s stock.

About Visa

(Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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