Steele Capital Management Inc. Has $662,000 Stock Holdings in Visa Inc. (NYSE:V)

Steele Capital Management Inc. decreased its stake in Visa Inc. (NYSE:V) by 3.4% in the first quarter, HoldingsChannel reports. The firm owned 2,374 shares of the credit-card processor’s stock after selling 84 shares during the period. Steele Capital Management Inc.’s holdings in Visa were worth $662,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of V. Alaethes Wealth LLC boosted its position in shares of Visa by 0.4% during the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock worth $2,302,000 after purchasing an additional 37 shares in the last quarter. Jessup Wealth Management Inc raised its stake in Visa by 0.7% during the 1st quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after buying an additional 37 shares during the period. Garden State Investment Advisory Services LLC lifted its holdings in Visa by 1.8% during the fourth quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock worth $571,000 after acquiring an additional 38 shares in the last quarter. Holistic Financial Partners grew its stake in Visa by 2.0% in the fourth quarter. Holistic Financial Partners now owns 1,975 shares of the credit-card processor’s stock valued at $514,000 after acquiring an additional 39 shares during the period. Finally, GoalVest Advisory LLC increased its holdings in shares of Visa by 3.4% in the fourth quarter. GoalVest Advisory LLC now owns 1,217 shares of the credit-card processor’s stock worth $317,000 after acquiring an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

NYSE:V traded up $0.70 during mid-day trading on Monday, hitting $263.17. The stock had a trading volume of 7,954,876 shares, compared to its average volume of 6,818,625. Visa Inc. has a twelve month low of $227.68 and a twelve month high of $290.96. 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 stock has a market cap of $481.32 billion, a price-to-earnings ratio of 29.40, a PEG ratio of 1.80 and a beta of 0.95. The company’s 50 day simple moving average is $273.88 and its 200 day simple moving average is $273.58.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The company had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. During the same period last year, the firm posted $2.09 earnings per share. The business’s revenue was up 9.9% on a year-over-year basis. On average, equities research analysts forecast that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were issued a $0.52 dividend. The ex-dividend date was Thursday, May 16th. This represents a $2.08 annualized dividend and a dividend yield of 0.79%. Visa’s dividend payout ratio is currently 23.24%.

Insider Activity

In other news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, 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 completion of the sale, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on V shares. Evercore ISI decreased their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Macquarie increased their price objective 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. Oppenheimer boosted their price objective on shares of Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. UBS Group increased their target price on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Piper Sandler initiated coverage on Visa in a report on Monday, May 13th. They issued an “overweight” rating and a $322.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus target price of $303.56.

Visa 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.