Blue Zone Wealth Advisors LLC Sells 859 Shares of Visa Inc. (NYSE:V)

Blue Zone Wealth Advisors LLC trimmed its holdings in shares of Visa Inc. (NYSE:V) by 3.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,825 shares of the credit-card processor’s stock after selling 859 shares during the quarter. Visa accounts for about 2.1% of Blue Zone Wealth Advisors LLC’s portfolio, making the stock its 13th largest position. Blue Zone Wealth Advisors LLC’s holdings in Visa were worth $5,991,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in V. Westend Capital Management LLC acquired a new stake in Visa in the first quarter valued at $25,000. Livelsberger Financial Advisory bought a new stake in shares of Visa in the 4th quarter valued at about $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of Visa in the fourth quarter valued at about $32,000. Frank Rimerman Advisors LLC bought a new position in shares of Visa during the fourth quarter worth about $33,000. Finally, Abich Financial Wealth Management LLC lifted its stake in shares of Visa by 52.9% in the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after acquiring an additional 46 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on V. Macquarie reissued an “outperform” rating and set a $300.00 target price on shares of Visa in a research report on Wednesday, July 24th. Piper Sandler lowered their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Citigroup cut their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Evercore ISI cut their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Six investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average price target of $307.25.

Visa Stock Performance

V traded up $0.45 during trading on Friday, hitting $259.76. 7,228,127 shares of the company traded hands, compared to its average volume of 7,072,978. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market cap of $473.36 billion, a P/E ratio of 29.02, a price-to-earnings-growth ratio of 1.82 and a beta of 0.95. Visa Inc. has a one year low of $227.78 and a one year high of $290.96. The stock’s fifty day moving average is $267.56 and its 200 day moving average is $273.90.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.16 EPS. As a group, equities analysts predict that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s payout ratio is 23.24%.

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.