Hemington Wealth Management Has $549,000 Stock Holdings in Visa Inc. (NYSE:V)

Hemington Wealth Management cut its position in Visa Inc. (NYSE:V) by 21.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,965 shares of the credit-card processor’s stock after selling 533 shares during the period. Hemington Wealth Management’s holdings in Visa were worth $549,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Nadler Financial Group Inc. lifted its position in Visa by 2.4% in the 4th quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock valued at $495,000 after acquiring an additional 44 shares in the last quarter. Towerpoint Wealth LLC bought a new position in Visa in the 4th quarter valued at about $216,000. Andrew Hill Investment Advisors Inc. bought a new position in shares of Visa during the 4th quarter worth approximately $3,427,000. Richelieu Gestion SA bought a new position in shares of Visa during the 4th quarter worth approximately $307,000. Finally, Cooper Financial Group lifted its position in shares of Visa by 6.4% during the 4th quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock worth $2,064,000 after buying an additional 476 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lloyd Carney sold 909 shares of Visa stock in a transaction 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 sale, the director now directly owns 2,591 shares of the company’s stock, valued at $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

Visa stock traded up $2.60 during mid-day trading on Friday, reaching $265.15. The company’s stock had a trading volume of 417,970 shares, compared to its average volume of 6,826,194. Visa Inc. has a 12-month low of $227.68 and a 12-month high of $290.96. The company has a market capitalization of $484.94 billion, a P/E ratio of 29.34, a PEG ratio of 1.80 and a beta of 0.95. 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’s fifty day moving average price is $272.88 and its two-hundred day moving average price is $273.85.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating 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 net margin of 53.87% and a return on equity of 51.23%. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.09 EPS. Sell-side analysts predict 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. Stockholders of record on Friday, May 17th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Macquarie lifted their target price on shares of Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Evercore ISI dropped their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. William Blair reissued an “outperform” rating on shares of Visa in a research report on Wednesday, April 24th. Robert W. Baird lifted their target price on shares of Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Finally, Royal Bank of Canada lifted their target price on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $304.44.

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.