OneAscent Wealth Management LLC Sells 126 Shares of Visa Inc. (NYSE:V)

OneAscent Wealth Management LLC trimmed its holdings in shares of Visa Inc. (NYSE:V) by 5.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,366 shares of the credit-card processor’s stock after selling 126 shares during the period. OneAscent Wealth Management LLC’s holdings in Visa were worth $660,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Livelsberger Financial Advisory bought a new stake in Visa in the 4th quarter valued at about $25,000. Westend Capital Management LLC bought a new stake in Visa in the 1st quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new stake in Visa in the 4th quarter valued at about $32,000. Frank Rimerman Advisors LLC bought a new stake in Visa in the 4th quarter valued at about $33,000. Finally, Valued Wealth Advisors LLC bought a new stake in Visa in the 4th quarter valued at about $37,000. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

V has been the subject of a number of recent analyst reports. TD Cowen initiated coverage on Visa in a report on Thursday, April 11th. They set a “buy” rating and a $320.00 target price for the company. Mizuho lifted their target price on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Oppenheimer lifted their target price on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Macquarie lifted their target price on Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, Royal Bank of Canada lifted their target price on Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $303.56.

Visa Price Performance

V stock opened at $262.47 on Friday. The firm has a market cap of $480.04 billion, a P/E ratio of 29.33, a P/E/G ratio of 1.80 and a beta of 0.97. 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 firm’s fifty day moving average is $273.88 and its 200 day moving average is $273.50. Visa Inc. has a 52 week low of $227.68 and a 52 week high of $290.96.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 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 firm had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. During the same period last year, the company posted $2.09 EPS. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. Research analysts predict that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were given a $0.52 dividend. The ex-dividend date was Thursday, May 16th. This represents a $2.08 annualized dividend and a dividend yield of 0.79%. Visa’s dividend payout ratio is 23.24%.

Insider Transactions at Visa

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

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.