Selective Wealth Management Inc. Sells 467 Shares of Visa Inc. (NYSE:V)

Selective Wealth Management Inc. cut its holdings in shares of Visa Inc. (NYSE:V) by 4.3% during the first quarter, Holdings Channel reports. The fund owned 10,415 shares of the credit-card processor’s stock after selling 467 shares during the period. Visa makes up about 1.2% of Selective Wealth Management Inc.’s portfolio, making the stock its 18th biggest position. Selective Wealth Management Inc.’s holdings in Visa were worth $2,859,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of V. Livelsberger Financial Advisory bought a new stake in Visa during the 4th quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new position in Visa in the 4th quarter valued at $32,000. Frank Rimerman Advisors LLC bought a new position in Visa in the 4th quarter valued at $33,000. Valued Wealth Advisors LLC bought a new position in Visa in the 4th quarter valued at $37,000. Finally, Vermillion & White Wealth Management Group LLC bought a new position in Visa in the 4th quarter valued at $40,000. 82.15% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lloyd Carney sold 909 shares of Visa stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the transaction, 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. Insiders sold 34,402 shares of company stock worth $9,559,382 in the last quarter. Corporate insiders own 0.19% of the company’s stock.

Visa Price Performance

V stock opened at $275.22 on Monday. The stock has a 50-day moving average price of $273.97 and a two-hundred day moving average price of $273.14. The stock has a market cap of $503.36 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 1.89 and a beta of 0.97. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a 1 year low of $225.50 and a 1 year high of $290.96.

Visa (NYSE:V) last released its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The firm had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.09 EPS. Equities analysts forecast that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed 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 0.76%. The ex-dividend date was Thursday, May 16th. Visa’s payout ratio is 23.24%.

Analyst Ratings Changes

A number of brokerages have commented on V. Macquarie increased their price objective on Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. 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. Piper Sandler started coverage on Visa in a research report on Monday, May 13th. They issued an “overweight” rating and a $322.00 price objective on the stock. TD Cowen started coverage on Visa in a research note on Thursday, April 11th. They issued a “buy” rating and a $320.00 price target on the stock. Finally, Mizuho increased their price target on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target of $303.76.

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.