Consolidated Portfolio Review Corp Sells 4,009 Shares of Visa Inc. (NYSE:V)

Consolidated Portfolio Review Corp cut its position in Visa Inc. (NYSE:V) by 41.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,588 shares of the credit-card processor’s stock after selling 4,009 shares during the quarter. Consolidated Portfolio Review Corp’s holdings in Visa were worth $1,559,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. J.W. Cole Advisors Inc. grew its stake in shares of Visa by 4.0% in the first quarter. J.W. Cole Advisors Inc. now owns 18,371 shares of the credit-card processor’s stock worth $5,125,000 after purchasing an additional 700 shares during the last quarter. Cutter & CO Brokerage Inc. increased its stake in shares of Visa by 21.2% in the first quarter. Cutter & CO Brokerage Inc. now owns 5,973 shares of the credit-card processor’s stock valued at $1,667,000 after buying an additional 1,043 shares during the period. Granite Harbor Advisors Inc. raised its position in shares of Visa by 4.0% during the first quarter. Granite Harbor Advisors Inc. now owns 1,722 shares of the credit-card processor’s stock worth $481,000 after acquiring an additional 66 shares during the last quarter. TFC Financial Management Inc. lifted its stake in shares of Visa by 123.3% in the first quarter. TFC Financial Management Inc. now owns 1,219 shares of the credit-card processor’s stock worth $340,000 after acquiring an additional 673 shares during the period. Finally, North Star Investment Management Corp. increased its position in Visa by 15.1% during the 1st quarter. North Star Investment Management Corp. now owns 3,603 shares of the credit-card processor’s stock valued at $1,005,000 after purchasing an additional 473 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 25,293 shares of the firm’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 in the company, valued at $4,959,322.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Visa news, insider Paul D. Fabara sold 25,293 shares of the company’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 directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. 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 the business’s 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 directly owns 2,591 shares of the company’s stock, 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.

Visa Stock Performance

NYSE V traded up $1.37 on Friday, hitting $270.36. 7,986,435 shares of the stock traded hands, compared to its average volume of 9,135,279. The firm has a market capitalization of $494.47 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 1.84 and a beta of 0.95. The business’s fifty day moving average is $273.24 and its two-hundred day moving average is $273.70. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. Visa Inc. has a 12 month low of $227.68 and a 12 month 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, topping the consensus estimate of $2.43 by $0.08. The company 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 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. As a group, equities analysts anticipate that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently announced 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. The ex-dividend date was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.77%. Visa’s payout ratio is 23.24%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on V. Wedbush upped their price objective on shares of Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Mizuho lifted their price objective on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Redburn Atlantic reaffirmed a “neutral” rating and set a $307.00 target price on shares of Visa in a research note on Wednesday, March 27th. UBS Group boosted 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. Finally, 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 report 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $303.56.

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.