Saxon Interests Inc. Sells 61 Shares of Visa Inc. (NYSE:V)

Saxon Interests Inc. reduced its stake in Visa Inc. (NYSE:V) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,931 shares of the credit-card processor’s stock after selling 61 shares during the period. Saxon Interests Inc.’s holdings in Visa were worth $539,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Evergreen Capital Management LLC lifted its position in Visa by 1.3% during the third quarter. Evergreen Capital Management LLC now owns 19,789 shares of the credit-card processor’s stock valued at $4,552,000 after acquiring an additional 251 shares during the last quarter. EULAV Asset Management lifted its position in Visa by 2.3% during the third quarter. EULAV Asset Management now owns 68,522 shares of the credit-card processor’s stock valued at $15,761,000 after acquiring an additional 1,508 shares during the last quarter. Elevatus Welath Management purchased a new stake in Visa during the third quarter valued at approximately $242,000. LaSalle St. Investment Advisors LLC lifted its position in Visa by 1.7% during the third quarter. LaSalle St. Investment Advisors LLC now owns 3,987 shares of the credit-card processor’s stock valued at $917,000 after acquiring an additional 67 shares during the last quarter. Finally, Kingfisher Capital LLC lifted its position in Visa by 0.3% during the third quarter. Kingfisher Capital LLC now owns 15,094 shares of the credit-card processor’s stock valued at $3,472,000 after acquiring an additional 45 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Up 1.9 %

NYSE V traded up $4.92 during trading on Tuesday, reaching $268.16. 8,696,822 shares of the company’s stock were exchanged, compared to its average volume of 6,833,536. The stock has a market cap of $490.45 billion, a P/E ratio of 29.77, a price-to-earnings-growth ratio of 1.80 and a beta of 0.95. 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 company has a 50 day moving average price of $273.70 and a two-hundred day moving average price of $273.61. Visa Inc. has a 1 year low of $227.68 and a 1 year high of $290.96.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share 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 business had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same period in the previous year, the business earned $2.09 EPS. The business’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities research analysts anticipate that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.78%. The ex-dividend date was Thursday, May 16th. Visa’s payout ratio is currently 23.24%.

Insider Activity

In related news, insider Paul D. Fabara sold 25,293 shares of the business’s 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 transaction, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Paul D. Fabara sold 25,293 shares of the business’s 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 transaction, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The sale 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 business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

V has been the subject of a number of research analyst reports. Wedbush raised their price target on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Royal Bank of Canada raised their target price on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Redburn Atlantic reissued a “neutral” rating and set a $307.00 target price on shares of Visa in a report on Wednesday, March 27th. Macquarie raised their target price on shares of Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Finally, Oppenheimer raised their target price on shares of Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $303.56.

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.