Waypoint Wealth Partners Inc. Cuts Stake in Visa Inc. (NYSE:V)

Waypoint Wealth Partners Inc. lowered its position in Visa Inc. (NYSE:V) by 10.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,142 shares of the credit-card processor’s stock after selling 129 shares during the quarter. Waypoint Wealth Partners Inc.’s holdings in Visa were worth $400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. von Borstel & Associates Inc. purchased a new stake in shares of Visa during the first quarter valued at approximately $27,000. Measured Risk Portfolios Inc. purchased a new stake in shares of Visa during the fourth quarter valued at approximately $47,000. Navigoe LLC purchased a new stake in Visa in the fourth quarter worth $53,000. O Brien Wealth Partners LLC purchased a new stake in Visa in the first quarter worth $54,000. Finally, Global X Japan Co. Ltd. purchased a new stake in Visa in the first quarter worth $56,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of NYSE:V opened at $342.66 on Thursday. Visa Inc. has a 1-year low of $258.74 and a 1-year high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The business has a fifty day moving average price of $351.11 and a 200-day moving average price of $347.19. The company has a market capitalization of $628.02 billion, a PE ratio of 33.46, a PEG ratio of 2.24 and a beta of 0.94.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same period last year, the company earned $2.42 earnings per share. The company’s revenue was up 14.3% on a year-over-year basis. As a group, equities analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa’s dividend payout ratio (DPR) is 23.05%.

Insider Buying and Selling at Visa

In related news, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the sale, the insider directly owned 26,413 shares of the company’s stock, valued at $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 75,100 shares of company stock worth $27,643,224 over the last ninety days. 0.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on V. BMO Capital Markets raised their price target on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Barclays reaffirmed an “overweight” rating and issued a $408.00 price target (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Piper Sandler raised their price target on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. The Goldman Sachs Group began coverage on Visa in a research note on Monday, June 2nd. They issued a “neutral” rating for the company. Finally, Truist Financial dropped their price target on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. 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 stock. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus target price of $380.84.

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.