Strive Asset Management LLC Reduces Stake in Visa Inc. $V

Strive Asset Management LLC decreased its stake in shares of Visa Inc. (NYSE:V) by 8.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 5,639 shares of the credit-card processor’s stock after selling 502 shares during the period. Visa accounts for 1.4% of Strive Asset Management LLC’s investment portfolio, making the stock its 21st largest position. Strive Asset Management LLC’s holdings in Visa were worth $1,976,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after purchasing an additional 1,677,088 shares in the last quarter. Northern Trust Corp lifted its holdings in Visa by 4.0% during the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock worth $6,654,189,000 after purchasing an additional 726,299 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Visa by 38,416.3% during the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock worth $5,173,271,000 after purchasing an additional 14,723,050 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Visa by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after purchasing an additional 955,392 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Visa by 14.9% during 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 worth $4,210,207,000 after purchasing an additional 1,723,785 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of NYSE V opened at $344.11 on Wednesday. The stock has a market cap of $630.68 billion, a price-to-earnings ratio of 33.60, a P/E/G ratio of 2.28 and a beta of 0.92. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 1-year low of $268.23 and a 1-year high of $375.51. The stock’s 50-day moving average is $348.03 and its 200 day moving average is $347.13.

Visa (NYSE:V) last announced its quarterly earnings data 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. The company had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the firm posted $2.42 EPS. On average, sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

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

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value 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. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Mizuho raised Visa from a “neutral” rating to an “outperform” rating and raised their price target for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Oppenheimer raised their price target on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Macquarie raised their price target on Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Morgan Stanley raised their price target on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Finally, Citigroup assumed coverage on Visa in a report on Monday, June 2nd. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $385.96.

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.