SVB Wealth LLC Sells 7,751 Shares of Visa Inc. $V

SVB Wealth LLC cut its stake in Visa Inc. (NYSE:V) by 8.5% in the first quarter, Holdings Channel.com reports. The firm owned 83,297 shares of the credit-card processor’s stock after selling 7,751 shares during the period. Visa makes up approximately 1.2% of SVB Wealth LLC’s holdings, making the stock its 14th largest holding. SVB Wealth LLC’s holdings in Visa were worth $29,192,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after buying an additional 1,677,088 shares in the last quarter. Northern Trust Corp increased its position in Visa by 4.0% in the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock valued at $6,654,189,000 after acquiring an additional 726,299 shares in the last quarter. GAMMA Investing LLC increased its position in Visa by 38,416.3% in the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock valued at $5,173,271,000 after acquiring an additional 14,723,050 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Visa by 14.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,321,754 shares of the credit-card processor’s stock valued at $4,210,207,000 after acquiring an additional 1,723,785 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Visa by 1.3% in the 4th quarter. Ameriprise Financial Inc. now owns 12,796,415 shares of the credit-card processor’s stock valued at $4,045,149,000 after purchasing an additional 164,008 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 46,214 shares of the firm’s 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 completion of the transaction, the insider owned 26,413 shares of the company’s stock, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,127 shares of company stock valued at $28,340,553. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

V has been the topic of several recent research reports. UBS Group reaffirmed a “buy” rating and issued a $415.00 target price (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Piper Sandler raised their target price on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and raised their target price for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. William Blair reaffirmed an “outperform” rating on shares of Visa in a research note on Wednesday, April 30th. Finally, Wall Street Zen raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average target price of $380.84.

Visa Stock Up 1.6%

Visa stock opened at $349.3180 on Friday. The company’s 50 day simple moving average is $347.92 and its 200 day simple moving average is $347.40. Visa Inc. has a fifty-two week low of $265.31 and a fifty-two week high of $375.51. The firm has a market capitalization of $640.23 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 2.29 and a beta of 0.94. 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 (NYSE:V) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the previous year, the firm posted $2.42 earnings per share. The business’s revenue was up 14.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

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

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.