Geneos Wealth Management Inc. Decreases Position in Visa Inc. (NYSE:V)

Geneos Wealth Management Inc. decreased its stake in Visa Inc. (NYSE:V) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,051 shares of the credit-card processor’s stock after selling 1,414 shares during the period. Geneos Wealth Management Inc.’s holdings in Visa were worth $8,429,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of V. Geode Capital Management LLC boosted its holdings in Visa by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock valued at $12,729,901,000 after purchasing an additional 1,689,926 shares during the last quarter. Capital International Investors boosted its holdings in Visa by 3.8% in the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor’s stock valued at $7,526,660,000 after purchasing an additional 866,596 shares during the last quarter. Capital World Investors boosted its holdings in Visa by 1.0% in the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor’s stock valued at $7,356,614,000 after purchasing an additional 241,057 shares during the last quarter. Northern Trust Corp boosted its holdings in Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock valued at $5,771,116,000 after purchasing an additional 2,785,707 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Visa by 38,416.3% in the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock valued at $5,173,271,000 after purchasing an additional 14,723,050 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $355.46 on Tuesday. Visa Inc. has a 12-month low of $254.51 and a 12-month high of $375.51. The firm has a market capitalization of $655.88 billion, a price-to-earnings ratio of 35.72, a price-to-earnings-growth ratio of 2.41 and a beta of 0.92. The business has a 50 day simple moving average of $356.06 and a 200 day simple moving average of $345.79. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The business had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same period in the prior year, the company posted $2.51 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is 23.72%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays restated an “overweight” rating on shares of Visa in a research note on Friday, June 13th. Evercore ISI assumed coverage on Visa in a research note on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price objective on the stock. Truist Financial cut their price objective on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Finally, Citigroup assumed coverage on Visa in a research note on Monday, June 2nd. They set a “buy” rating on the stock. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $375.52.

Insider Buying and Selling

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,121,041.50. This represents a 17.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider directly owned 26,413 shares of the company’s stock, valued at approximately $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,108 shares of company stock valued at $36,771,200 in the last three months. 0.13% of the stock is currently owned by corporate insiders.

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.