Factory Mutual Insurance Co. Sells 7,700 Shares of Visa Inc. (NYSE:V)

Factory Mutual Insurance Co. cut its holdings in Visa Inc. (NYSE:V) by 2.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 370,651 shares of the credit-card processor’s stock after selling 7,700 shares during the period. Visa makes up approximately 1.2% of Factory Mutual Insurance Co.’s portfolio, making the stock its 17th biggest position. Factory Mutual Insurance Co.’s holdings in Visa were worth $103,441,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in V. Livelsberger Financial Advisory bought a new stake in Visa in the 4th quarter valued at about $25,000. Westend Capital Management LLC acquired a new position in shares of Visa during the first quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of Visa in the 4th quarter worth $32,000. Frank Rimerman Advisors LLC acquired a new stake in Visa in the 4th quarter valued at $33,000. Finally, Valued Wealth Advisors LLC bought a new stake in Visa during the 4th quarter valued at $37,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Oppenheimer raised their price objective on shares of Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Robert W. Baird lifted their price target on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. UBS Group raised their target price on Visa from $315.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Mizuho upped their price target on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Finally, Citigroup raised their price objective on Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus target price of $303.56.

Visa Stock Down 1.0 %

Shares of NYSE V opened at $273.66 on Wednesday. The business’s fifty day moving average price is $274.11 and its 200-day moving average price is $273.41. Visa Inc. has a one year low of $226.02 and a one year high of $290.96. The stock has a market capitalization of $500.51 billion, a PE ratio of 30.58, a P/E/G ratio of 1.89 and a beta of 0.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating the consensus estimate of $2.43 by $0.08. The business had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.09 earnings per share. On average, equities research analysts anticipate that Visa Inc. will post 9.94 EPS for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Paul D. Fabara sold 25,293 shares of the company’s 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 sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lloyd Carney sold 909 shares of the firm’s 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 directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,402 shares of company stock worth $9,559,382. Corporate insiders own 0.19% of the company’s stock.

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.