Visa Inc. (NYSE:V) Position Reduced by Saber Capital Managment LLC

Saber Capital Managment LLC trimmed its position in shares of Visa Inc. (NYSE:V) by 58.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 24,650 shares of the credit-card processor’s stock after selling 34,567 shares during the period. Visa comprises approximately 10.4% of Saber Capital Managment LLC’s portfolio, making the stock its 5th biggest holding. Saber Capital Managment LLC’s holdings in Visa were worth $5,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. BCK Partners Inc. purchased a new stake in shares of Visa during the 1st quarter worth about $2,717,000. Markel Corp boosted its position in Visa by 0.3% during the first quarter. Markel Corp now owns 961,105 shares of the credit-card processor’s stock worth $213,144,000 after purchasing an additional 3,065 shares in the last quarter. AMI Investment Management Inc. purchased a new position in Visa during the first quarter worth approximately $2,323,000. Ergoteles LLC acquired a new stake in Visa in the first quarter valued at approximately $538,000. Finally, XTX Topco Ltd acquired a new position in shares of Visa during the 1st quarter worth approximately $1,496,000. 81.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 425 shares of Visa stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $240.00, for a total transaction of $102,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Rajat Taneja sold 22,700 shares of the firm’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 transaction, the insider now directly owns 232,112 shares in the company, valued at approximately $55,755,623.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 425 shares of the business’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $240.00, for a total transaction of $102,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,750 shares of company stock valued at $15,845,648. 0.22% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

V has been the subject of several recent analyst reports. Royal Bank of Canada boosted their price target on shares of Visa from $265.00 to $290.00 in a report on Wednesday, July 26th. Oppenheimer reissued an “outperform” rating and set a $248.00 target price on shares of Visa in a research note on Monday, July 24th. Wells Fargo & Company raised their price target on shares of Visa from $265.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 26th. Susquehanna boosted their price objective on Visa from $266.00 to $300.00 in a research note on Wednesday, July 26th. Finally, Mizuho restated a “neutral” rating and issued a $255.00 target price on shares of Visa in a research report on Tuesday, August 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average target price of $273.77.

Visa Price Performance

Visa stock opened at $247.29 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average price of $240.99 and a 200 day moving average price of $231.41. Visa Inc. has a 12-month low of $174.60 and a 12-month high of $248.87. The stock has a market cap of $460.41 billion, a P/E ratio of 31.38, a PEG ratio of 1.86 and a beta of 0.95.

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

Visa Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend was Thursday, August 10th. Visa’s dividend payout ratio is presently 22.84%.

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.