Abundance Wealth Counselors Sells 297 Shares of Visa Inc. (NYSE:V)

Abundance Wealth Counselors trimmed its stake in Visa Inc. (NYSE:V) by 3.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,189 shares of the credit-card processor’s stock after selling 297 shares during the period. Visa accounts for about 0.5% of Abundance Wealth Counselors’ investment portfolio, making the stock its 29th largest position. Abundance Wealth Counselors’ holdings in Visa were worth $2,285,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in V. Nadler Financial Group Inc. grew its holdings in Visa by 2.4% in the 4th quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock valued at $495,000 after buying an additional 44 shares during the last quarter. Towerpoint Wealth LLC acquired a new stake in Visa in the 4th quarter valued at approximately $216,000. Andrew Hill Investment Advisors Inc. acquired a new stake in Visa in the 4th quarter valued at approximately $3,427,000. Richelieu Gestion SA acquired a new stake in Visa in the 4th quarter valued at approximately $307,000. Finally, Cooper Financial Group grew its holdings in Visa by 6.4% in the 4th quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock valued at $2,064,000 after buying an additional 476 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Trading Up 0.3 %

Shares of V opened at $268.99 on Friday. The stock has a fifty day moving average price of $273.45 and a two-hundred day moving average price of $273.65. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. Visa Inc. has a 52-week low of $227.68 and a 52-week high of $290.96. The company has a market cap of $491.97 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 1.84 and a beta of 0.95.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same quarter in the previous year, the company posted $2.09 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. Analysts predict 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. Stockholders of record on Friday, May 17th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.77%. Visa’s payout ratio is currently 23.24%.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the sale, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

V has been the topic of several recent research reports. UBS Group lifted their price objective on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Piper Sandler initiated coverage on Visa in a report on Monday, May 13th. They set an “overweight” rating and a $322.00 price objective on the stock. Robert W. Baird lifted their price objective on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. William Blair reissued an “outperform” rating on shares of Visa in a report on Wednesday, April 24th. Finally, Redburn Atlantic reissued a “neutral” rating and set a $307.00 price objective on shares of Visa in a report on Wednesday, March 27th. 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.com, Visa has an average rating of “Moderate Buy” and a consensus price target of $303.56.

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.