Spring Capital Management LLC Sells 1,156 Shares of Visa Inc. (NYSE:V)

Spring Capital Management LLC lowered its position in shares of Visa Inc. (NYSE:V) by 5.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,227 shares of the credit-card processor’s stock after selling 1,156 shares during the quarter. Visa makes up approximately 4.3% of Spring Capital Management LLC’s holdings, making the stock its 9th biggest holding. Spring Capital Management LLC’s holdings in Visa were worth $5,645,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital International Investors grew its holdings 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 worth $5,973,432,000 after purchasing an additional 596,950 shares during the last quarter. Capital World Investors lifted its position in shares of Visa by 8.0% during the fourth 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 in the last quarter. Norges Bank bought a new stake in shares of Visa during the fourth quarter valued at approximately $3,895,015,000. Ameriprise Financial Inc. increased its holdings in shares of Visa by 2.7% in the third quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock valued at $3,272,846,000 after purchasing an additional 374,489 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Visa by 0.7% in the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after purchasing an additional 85,123 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on V shares. William Blair reissued an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Royal Bank of Canada boosted their price objective on Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Piper Sandler initiated coverage on shares of Visa in a research report on Monday, May 13th. They set an “overweight” rating and a $322.00 price target for the company. Wedbush increased their price objective on shares of Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, TD Cowen started coverage on shares of Visa in a report on Thursday, April 11th. They set a “buy” rating and a $320.00 target price for the company. Five research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $303.76.

Visa Stock Down 0.6 %

V stock opened at $275.22 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $503.36 billion, a P/E ratio of 30.75, a P/E/G ratio of 1.89 and a beta of 0.97. Visa Inc. has a fifty-two week low of $225.50 and a fifty-two week high of $290.96. The business has a 50-day moving average of $273.97 and a 200-day moving average of $273.01.

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 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 analysts’ expectations of $8.62 billion. During the same period last year, the business earned $2.09 EPS. The business’s quarterly revenue was up 9.9% on a year-over-year basis. On average, sell-side analysts anticipate that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared 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 of this dividend was Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.76%. Visa’s payout ratio is currently 23.24%.

Insiders Place Their Bets

In related news, Director Lloyd Carney sold 909 shares of the 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 of the company’s stock, valued at $713,950.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Paul D. Fabara sold 25,293 shares of the business’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The disclosure for this sale can be found here. Insiders have sold 34,402 shares of company stock valued at $9,559,382 in the last three months. 0.19% of the stock is currently owned by corporate 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.