Mainstay Capital Management LLC ADV Sells 369 Shares of Visa Inc. (NYSE:V)

Mainstay Capital Management LLC ADV reduced its position in Visa Inc. (NYSE:V) by 5.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,874 shares of the credit-card processor’s stock after selling 369 shares during the period. Mainstay Capital Management LLC ADV’s holdings in Visa were worth $2,059,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after purchasing an additional 7,079,706 shares in the last quarter. Geode Capital Management LLC boosted its stake in Visa by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock worth $12,729,901,000 after purchasing an additional 1,689,926 shares in the last quarter. Capital International Investors boosted its stake in Visa by 3.8% in the 4th quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor’s stock worth $7,526,660,000 after purchasing an additional 866,596 shares in the last quarter. Capital World Investors boosted its stake in Visa by 1.0% in the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor’s stock worth $7,356,614,000 after purchasing an additional 241,057 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Visa by 18.0% in the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock worth $5,771,116,000 after purchasing an additional 2,785,707 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on V. William Blair reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, April 30th. Wall Street Zen raised shares of Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. The Goldman Sachs Group started coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “neutral” rating on the stock. Macquarie cut their price objective on shares of Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Finally, UBS Group increased their price objective on shares of Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Wednesday, May 28th. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $375.52.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,108 shares of company stock valued at $36,771,200 over the last 90 days. 0.13% of the stock is owned by company insiders.

Visa Trading Down 0.3%

Shares of V opened at $348.90 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average price of $356.82 and a 200 day moving average price of $343.63. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The firm has a market capitalization of $643.78 billion, a P/E ratio of 35.07, a P/E/G ratio of 2.37 and a beta of 0.92.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.51 EPS. Sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is presently 23.72%.

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.