Visa Inc. (NYSE:V) Shares Sold by Benin Management CORP

Benin Management CORP decreased its holdings in Visa Inc. (NYSE:V) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,011 shares of the credit-card processor’s stock after selling 673 shares during the quarter. Visa comprises 4.4% of Benin Management CORP’s investment portfolio, making the stock its 4th largest holding. Benin Management CORP’s holdings in Visa were worth $13,957,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Nadler Financial Group Inc. grew its holdings in shares of Visa by 2.4% during the fourth quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock worth $495,000 after buying an additional 44 shares in the last quarter. Towerpoint Wealth LLC acquired a new stake in shares of Visa in the fourth quarter worth approximately $216,000. Andrew Hill Investment Advisors Inc. acquired a new stake in shares of Visa in the fourth quarter worth approximately $3,427,000. Richelieu Gestion SA acquired a new stake in shares of Visa in the fourth quarter worth approximately $307,000. Finally, Cooper Financial Group boosted its position in shares of Visa by 6.4% in the fourth quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock worth $2,064,000 after acquiring an additional 476 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Down 1.0 %

Shares of NYSE:V traded down $2.64 during trading on Tuesday, hitting $273.66. 19,896,519 shares of the company were exchanged, compared to its average volume of 6,662,618. The stock has a market cap of $500.51 billion, a price-to-earnings ratio of 30.58, a P/E/G ratio of 1.88 and a beta of 0.97. Visa Inc. has a fifty-two week low of $226.02 and a fifty-two week high of $290.96. The firm has a fifty day moving average price of $274.11 and a two-hundred day moving average price of $273.41. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last posted its quarterly earnings results 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 firm had revenue of $8.78 billion for 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 business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.09 EPS. As a group, research analysts anticipate that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors 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 dividend yield of 0.76%. The ex-dividend date was Thursday, May 16th. Visa’s payout ratio is presently 23.24%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $150,833.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was 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 in the company, valued at approximately $4,959,322.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,402 shares of company stock valued at $9,559,382. 0.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

V has been the topic of a number of recent research reports. Royal Bank of Canada boosted 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. UBS Group upped their price objective on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Oppenheimer upped their price objective on shares of Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Piper Sandler began coverage on shares of Visa in a report on Monday, May 13th. They issued an “overweight” rating and a $322.00 price target for the company. Finally, William Blair restated an “outperform” rating on shares of Visa in a report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.