Wellspring Financial Advisors LLC Reduces Holdings in Visa Inc. (NYSE:V)

Wellspring Financial Advisors LLC reduced its holdings in shares of Visa Inc. (NYSE:V) by 29.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,453 shares of the credit-card processor’s stock after selling 600 shares during the quarter. Wellspring Financial Advisors LLC’s holdings in Visa were worth $328,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in V. Graham Capital Wealth Management LLC purchased a new stake in shares of Visa during the first quarter worth about $299,862,000. Financial Freedom LLC purchased a new stake in shares of Visa during the fourth quarter worth about $32,000. Ridgewood Investments LLC purchased a new stake in shares of Visa during the first quarter worth about $35,000. Kalos Management Inc. purchased a new stake in shares of Visa during the first quarter worth about $40,000. Finally, NewSquare Capital LLC grew its holdings in shares of Visa by 121.9% during the first quarter. NewSquare Capital LLC now owns 213 shares of the credit-card processor’s stock worth $48,000 after buying an additional 117 shares in the last quarter. 81.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Ryan Mcinerney sold 24,025 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total transaction of $5,766,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Ryan Mcinerney sold 24,025 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total value of $5,766,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Rajat Taneja sold 22,700 shares of the company’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $240.21, for a total transaction of $5,452,767.00. Following the completion of the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $55,755,623.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,750 shares of company stock valued at $15,845,648. 0.21% of the stock is currently owned by company insiders.

Visa Stock Performance

V stock traded down $0.28 during trading on Wednesday, hitting $245.06. 1,495,605 shares of the company’s stock traded hands, compared to its average volume of 5,990,177. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. Visa Inc. has a 52 week low of $174.60 and a 52 week high of $248.87. The stock has a fifty day moving average price of $240.17 and a two-hundred day moving average price of $230.95. The stock has a market capitalization of $456.26 billion, a price-to-earnings ratio of 31.01, a price-to-earnings-growth ratio of 1.86 and a beta of 0.95.

Visa (NYSE:V) last released its earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.05. Visa had a net margin of 51.94% and a return on equity of 49.42%. The firm had revenue of $8.12 billion during the quarter, compared to analyst estimates of $8.06 billion. During the same quarter in the previous year, the firm earned $1.98 earnings per share. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, equities analysts anticipate that Visa Inc. will post 8.65 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Thursday, August 10th. Visa’s dividend payout ratio (DPR) is 22.84%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on V. Bank of America raised their target price on shares of Visa from $270.00 to $275.00 in a research report on Tuesday, July 18th. Wedbush reissued an “outperform” rating and issued a $270.00 target price on shares of Visa in a research report on Thursday, August 31st. JPMorgan Chase & Co. raised their target price on shares of Visa from $265.00 to $296.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 22nd. Truist Financial raised their target price on shares of Visa from $270.00 to $275.00 in a research report on Wednesday, July 26th. Finally, Susquehanna lifted their price target on shares of Visa from $266.00 to $300.00 in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $273.77.

About Visa

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.