Visa Inc. $V Position Trimmed by 1832 Asset Management L.P.

1832 Asset Management L.P. cut its stake in shares of Visa Inc. (NYSE:V) by 7.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,470,656 shares of the credit-card processor’s stock after selling 292,507 shares during the period. Visa comprises about 1.1% of 1832 Asset Management L.P.’s investment portfolio, making the stock its 6th biggest position. 1832 Asset Management L.P. owned approximately 0.19% of Visa worth $1,216,326,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Keystone Global Partners LLC purchased a new position in Visa during the first quarter valued at $26,000. von Borstel & Associates Inc. purchased a new position in shares of Visa in the first quarter valued at about $27,000. Measured Risk Portfolios Inc. purchased a new position in shares of Visa in the fourth quarter valued at about $47,000. O Brien Wealth Partners LLC purchased a new position in shares of Visa in the first quarter valued at about $54,000. Finally, Global X Japan Co. Ltd. purchased a new position in shares of Visa in the first quarter valued at about $56,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was 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 approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value 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 represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,127 shares of company stock valued at $28,340,553 over the last ninety days. 0.13% of the stock is owned by insiders.

Visa Trading Down 0.1%

Shares of NYSE V opened at $343.5530 on Friday. The business’s 50 day moving average is $347.99 and its two-hundred day moving average is $347.37. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 1-year low of $265.31 and a 1-year high of $375.51. The stock has a market capitalization of $629.66 billion, a P/E ratio of 33.55, a PEG ratio of 2.29 and a beta of 0.94.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping 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 company had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. During the same period in the previous year, the firm posted $2.42 earnings per share. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Jefferies Financial Group boosted their price objective on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. William Blair restated an “outperform” rating on shares of Visa in a research report on Wednesday, April 30th. Citigroup assumed coverage on Visa in a research report on Monday, June 2nd. They issued a “buy” rating on the stock. Finally, The Goldman Sachs Group initiated coverage on Visa in a research report on Monday, June 2nd. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $380.84.

About Visa

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.