Visa Inc. $V is Avity Investment Management Inc.’s 7th Largest Position

Avity Investment Management Inc. trimmed its position in Visa Inc. (NYSE:V) by 11.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 140,598 shares of the credit-card processor’s stock after selling 17,578 shares during the quarter. Visa makes up 3.7% of Avity Investment Management Inc.’s portfolio, making the stock its 7th biggest position. Avity Investment Management Inc.’s holdings in Visa were worth $49,919,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in V. GAMMA Investing LLC lifted its holdings in shares of 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 worth $5,173,271,000 after buying an additional 14,723,050 shares during the period. Nuveen LLC purchased a new stake in shares of Visa in the 1st quarter worth $3,518,533,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Visa in the 4th quarter worth $673,689,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of 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 worth $4,210,207,000 after buying an additional 1,723,785 shares during the period. Finally, Vanguard Group Inc. lifted its holdings 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 worth $56,452,949,000 after buying an additional 1,677,088 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Trading Down 0.1%

Shares of NYSE:V opened at $338.96 on Tuesday. The business’s 50-day moving average is $346.67 and its 200 day moving average is $346.69. Visa Inc. has a 1 year low of $268.23 and a 1 year high of $375.51. The firm has a market capitalization of $621.24 billion, a P/E ratio of 33.10, a P/E/G ratio of 2.26 and a beta of 0.92. 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 earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) 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 company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same period in the prior year, the company posted $2.42 EPS. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given 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 was Tuesday, August 12th. Visa’s dividend payout ratio is currently 23.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Truist Financial lowered their target price on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. The Goldman Sachs Group started coverage on Visa in a research note on Monday, June 2nd. They set a “neutral” rating for the company. Barclays restated an “overweight” rating and set a $408.00 price objective (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft started coverage on Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 price objective for the company. Finally, UBS Group restated a “buy” rating and set a $415.00 price objective (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $385.96.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated 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 directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

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.