Steele Capital Management Inc. Trims Position in Visa Inc. (NYSE:V)

Steele Capital Management Inc. decreased its position in shares of Visa Inc. (NYSE:V) by 3.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,374 shares of the credit-card processor’s stock after selling 84 shares during the quarter. Steele Capital Management Inc.’s holdings in Visa were worth $662,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Westend Capital Management LLC acquired a new stake in shares of Visa during the 1st quarter worth about $25,000. Livelsberger Financial Advisory purchased a new stake in shares of Visa in the 4th quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new position in shares of Visa in the 4th quarter worth approximately $32,000. Frank Rimerman Advisors LLC acquired a new position in shares of Visa in the 4th quarter worth approximately $33,000. Finally, Valued Wealth Advisors LLC purchased a new position in shares of Visa during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on V shares. Oppenheimer lifted their target price on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Redburn Atlantic reaffirmed a “neutral” rating and set a $307.00 target price on shares of Visa in a research note on Wednesday, March 27th. UBS Group raised their price target on shares of Visa from $315.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Mizuho upped their price objective on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Finally, Royal Bank of Canada lifted their target price on Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $303.56.

Visa Stock Performance

Shares of NYSE:V traded up $0.70 during midday 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. The company has a market capitalization of $481.32 billion, a PE ratio of 29.40, a P/E/G ratio of 1.80 and a beta of 0.95. Visa Inc. has a 1 year low of $227.68 and a 1 year high of $290.96. The stock has a 50 day moving average price of $273.88 and a two-hundred day moving average price of $273.58. 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, beating analysts’ consensus estimates of $2.43 by $0.08. The firm had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.09 earnings per share. As a group, equities analysts predict that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio (DPR) is 23.24%.

Insider Buying and Selling

In other news, insider Paul D. Fabara sold 25,293 shares of Visa 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 transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Visa news, Director Lloyd Carney sold 909 shares of the firm’s 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 transaction, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

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.