Edge Wealth Management LLC Has $208,000 Stock Position in Visa Inc. (NYSE:V)

Edge Wealth Management LLC decreased its holdings in Visa Inc. (NYSE:V) by 24.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 745 shares of the credit-card processor’s stock after selling 235 shares during the period. Edge Wealth Management LLC’s holdings in Visa were worth $208,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in V. Towerpoint Wealth LLC lifted its holdings in shares of Visa by 36.6% during the 1st quarter. Towerpoint Wealth LLC now owns 1,135 shares of the credit-card processor’s stock valued at $317,000 after buying an additional 304 shares during the last quarter. Prairie Sky Financial Group LLC bought a new stake in Visa in the first quarter worth approximately $237,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Visa by 7.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 682,924 shares of the credit-card processor’s stock worth $190,590,000 after purchasing an additional 45,038 shares during the last quarter. Procyon Advisors LLC raised its holdings in shares of Visa by 4.3% during the 1st quarter. Procyon Advisors LLC now owns 60,932 shares of the credit-card processor’s stock valued at $17,005,000 after purchasing an additional 2,534 shares in the last quarter. Finally, ERn Financial LLC lifted its stake in shares of Visa by 1.7% in the 1st quarter. ERn Financial LLC now owns 5,110 shares of the credit-card processor’s stock valued at $1,426,000 after purchasing an additional 85 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Trading Down 2.6 %

NYSE V traded down $6.98 on Thursday, reaching $266.62. The company had a trading volume of 10,526,284 shares, compared to its average volume of 6,751,320. Visa Inc. has a 52 week low of $226.02 and a 52 week high of $290.96. The stock’s 50 day moving average is $274.13 and its 200-day moving average is $273.41. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The stock has a market cap of $487.63 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 1.87 and a beta of 0.97.

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

Visa Announces Dividend

The business also recently disclosed 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. This represents a $2.08 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s dividend payout ratio is 23.24%.

Analyst Ratings Changes

V has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. William Blair reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Robert W. Baird increased 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. Evercore ISI dropped their price target on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Citigroup increased their price objective on Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $303.56.

Insider Buying and Selling

In related news, Director Lloyd Carney sold 909 shares of the stock in a transaction dated 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 in the company, valued at $713,950.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction dated 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 $4,959,322.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lloyd Carney sold 909 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following 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 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.