OneAscent Wealth Management LLC Sells 126 Shares of Visa Inc. (NYSE:V)

OneAscent Wealth Management LLC cut its stake in Visa Inc. (NYSE:V) by 5.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,366 shares of the credit-card processor’s stock after selling 126 shares during the period. OneAscent Wealth Management LLC’s holdings in Visa were worth $660,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Nadler Financial Group Inc. lifted its stake in Visa by 2.4% in the fourth quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock worth $495,000 after acquiring an additional 44 shares during the period. Towerpoint Wealth LLC purchased a new stake in Visa in the fourth quarter worth about $216,000. Andrew Hill Investment Advisors Inc. purchased a new stake in Visa in the fourth quarter worth about $3,427,000. Richelieu Gestion SA purchased a new stake in Visa in the fourth quarter worth about $307,000. Finally, Cooper Financial Group lifted its stake in Visa by 6.4% in the fourth quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock worth $2,064,000 after acquiring an additional 476 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Trading Down 1.5 %

Shares of V stock opened at $262.47 on Friday. The stock’s fifty day moving average is $273.88 and its two-hundred day moving average is $273.50. 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 firm has a market capitalization of $480.04 billion, a P/E ratio of 29.33, a PEG ratio of 1.80 and a beta of 0.97. Visa Inc. has a fifty-two week low of $227.68 and a fifty-two 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 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 analyst estimates of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.09 EPS. Research analysts expect that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.79%. Visa’s payout ratio is currently 23.24%.

Analyst Ratings Changes

A number of research firms recently weighed in on V. Wedbush upped their price objective on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. TD Cowen assumed coverage on shares of Visa in a research report on Thursday, April 11th. They set a “buy” rating and a $320.00 price target for the company. Redburn Atlantic reiterated a “neutral” rating and issued a $307.00 price target on shares of Visa in a report on Wednesday, March 27th. Oppenheimer raised their price objective on shares of Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, Wells Fargo & Company raised 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. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $303.56.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction 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 transaction, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,402 shares of company stock worth $9,559,382. Corporate insiders own 0.19% of the company’s stock.

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.