Abundance Wealth Counselors Sells 297 Shares of Visa Inc. (NYSE:V)

Abundance Wealth Counselors trimmed its position in Visa Inc. (NYSE:V) by 3.5% in the first quarter, Holdings Channel reports. The fund owned 8,189 shares of the credit-card processor’s stock after selling 297 shares during the quarter. Visa accounts for 0.5% of Abundance Wealth Counselors’ portfolio, making the stock its 29th largest holding. Abundance Wealth Counselors’ holdings in Visa were worth $2,285,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Livelsberger Financial Advisory bought a new position in Visa during the 4th quarter worth $25,000. Westend Capital Management LLC bought a new position in Visa during the 1st quarter worth $25,000. O Brien Wealth Partners LLC bought a new position in Visa during the 4th quarter worth $32,000. Frank Rimerman Advisors LLC bought a new position in Visa during the 4th quarter worth $33,000. Finally, Valued Wealth Advisors LLC bought a new position in Visa during the 4th quarter worth $37,000. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

V has been the subject of several analyst reports. TD Cowen initiated coverage on Visa in a research report on Thursday, April 11th. They set a “buy” rating and a $320.00 target price for the company. Macquarie lifted their price objective on Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Robert W. Baird boosted their price objective on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Royal Bank of Canada boosted their price objective on Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, UBS Group boosted their price objective on Visa from $315.00 to $325.00 and gave the company a “buy” rating in a research note 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $303.56.

Visa Stock Performance

Shares of Visa stock opened at $268.99 on Friday. Visa Inc. has a one year low of $227.68 and a one year high of $290.96. The firm has a market capitalization of $491.97 billion, a price-to-earnings ratio of 30.05, a PEG ratio of 1.84 and a beta of 0.95. The business has a 50-day simple moving average of $273.45 and a 200 day simple moving average of $273.65. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 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 analyst estimates of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.09 EPS. On average, research analysts anticipate that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s dividend payout ratio is currently 23.24%.

Insiders Place Their Bets

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. In other news, Director Lloyd Carney sold 909 shares of the company’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 value of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the transaction, 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. Corporate 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.