Selective Wealth Management Inc. Decreases Position in Visa Inc. (NYSE:V)

Selective Wealth Management Inc. trimmed its position in shares of Visa Inc. (NYSE:V) by 4.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,415 shares of the credit-card processor’s stock after selling 467 shares during the quarter. Visa makes up 1.2% of Selective Wealth Management Inc.’s portfolio, making the stock its 18th biggest holding. Selective Wealth Management Inc.’s holdings in Visa were worth $2,859,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of V. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Visa by 3.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 15,926 shares of the credit-card processor’s stock valued at $3,663,000 after acquiring an additional 486 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in Visa by 31.8% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 13,997 shares of the credit-card processor’s stock valued at $3,220,000 after purchasing an additional 3,379 shares during the last quarter. Brasada Capital Management LP increased its stake in Visa by 8.3% in the third quarter. Brasada Capital Management LP now owns 13,330 shares of the credit-card processor’s stock valued at $3,111,000 after purchasing an additional 1,025 shares during the last quarter. Natixis Advisors L.P. increased its stake in Visa by 2.8% in the third quarter. Natixis Advisors L.P. now owns 2,112,470 shares of the credit-card processor’s stock valued at $485,889,000 after purchasing an additional 57,877 shares during the last quarter. Finally, Consolidated Portfolio Review Corp increased its stake in Visa by 68.3% in the third quarter. Consolidated Portfolio Review Corp now owns 9,816 shares of the credit-card processor’s stock valued at $2,258,000 after purchasing an additional 3,982 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

V has been the subject of several analyst reports. Piper Sandler initiated coverage on Visa in a research note on Monday, May 13th. They issued an “overweight” rating and a $322.00 target price for the company. TD Cowen initiated coverage on Visa in a research note on Thursday, April 11th. They issued a “buy” rating and a $320.00 target price for the company. Robert W. Baird upped their target price on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Mizuho upped their target price on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Finally, William Blair restated an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $303.76.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $150,833.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $150,833.68. The disclosure for this sale can be found here. Insiders have sold a total of 34,402 shares of company stock valued at $9,559,382 in the last quarter. Insiders own 0.19% of the company’s stock.

Visa Trading Down 0.6 %

Shares of V opened at $275.22 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a 50-day moving average price of $273.97 and a 200 day moving average price of $273.14. Visa Inc. has a one year low of $225.50 and a one year high of $290.96. The company 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 (NYSE:V) last released its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The company had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. During the same quarter last year, the business posted $2.09 EPS. Visa’s quarterly revenue was up 9.9% compared to the same quarter last year. Sell-side analysts forecast that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s dividend payout ratio is presently 23.24%.

About Visa

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.