RiverPark Advisors LLC Has $4.27 Million Stock Holdings in Visa Inc. (NYSE:V)

RiverPark Advisors LLC reduced its holdings in Visa Inc. (NYSE:V) by 5.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,296 shares of the credit-card processor’s stock after selling 874 shares during the quarter. Visa accounts for about 3.5% of RiverPark Advisors LLC’s investment portfolio, making the stock its 5th largest holding. RiverPark Advisors LLC’s holdings in Visa were worth $4,269,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Proficio Capital Partners LLC grew its holdings in shares of Visa by 0.7% during the first quarter. Proficio Capital Partners LLC now owns 26,038 shares of the credit-card processor’s stock worth $7,267,000 after buying an additional 178 shares in the last quarter. Comprehensive Financial Consultants Institutional Inc. grew its stake in Visa by 6.5% in the first quarter. Comprehensive Financial Consultants Institutional Inc. now owns 7,557 shares of the credit-card processor’s stock valued at $2,109,000 after purchasing an additional 460 shares in the last quarter. Liberty Wealth Management LLC bought a new position in Visa in the first quarter valued at approximately $5,333,000. Central Pacific Bank Trust Division bought a new position in Visa in the first quarter valued at approximately $5,681,000. Finally, Absolute Capital Management LLC bought a new position in Visa in the first quarter valued at approximately $404,000. 82.15% of the stock is currently owned by institutional investors.

Visa Price Performance

V stock traded down $0.96 during midday trading on Tuesday, reaching $265.44. 6,431,503 shares of the stock were exchanged, compared to its average volume of 6,838,637. The stock has a market capitalization of $485.47 billion, a PE ratio of 29.66, a P/E/G ratio of 1.85 and a beta of 0.95. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. The company has a fifty day moving average price of $273.07 and a 200 day moving average price of $274.01. Visa Inc. has a 52 week low of $227.68 and a 52 week high of $290.96.

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

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on V. UBS Group raised their price target on Visa from $315.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Wedbush raised their price objective on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Oppenheimer raised their price objective on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Piper Sandler began coverage on Visa in a research report on Monday, May 13th. They issued an “overweight” rating and a $322.00 price objective for the company. Finally, Robert W. Baird raised their price objective on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $303.56.

Insider Buying and Selling

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 stock was 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 approximately $4,959,322.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Visa news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction that occurred on 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 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. 0.19% of the stock is owned by company insiders.

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.