Visa Inc. $V Shares Sold by Enzi Wealth

Enzi Wealth decreased its holdings in shares of Visa Inc. (NYSE:V) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 786 shares of the credit-card processor’s stock after selling 34 shares during the period. Enzi Wealth’s holdings in Visa were worth $273,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in V. GAMMA Investing LLC boosted its stake in shares of Visa by 38,416.3% during the first 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 position in Visa during the first quarter worth about $3,518,533,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Visa during the fourth quarter worth about $673,689,000. Vanguard Group Inc. raised its holdings in Visa by 1.1% during the first 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. Finally, Wellington Management Group LLP raised its holdings in Visa by 17.7% during the first quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after purchasing an additional 1,651,954 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Barclays reissued an “overweight” rating and set a $408.00 price target (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Truist Financial cut their price target on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and increased their target price for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 target price for the company. Finally, Morgan Stanley increased their target price on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $385.96.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of Visa 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 transaction, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Visa Stock Up 0.8%

Shares of NYSE V opened at $344.28 on Tuesday. Visa Inc. has a 1 year low of $268.23 and a 1 year high of $375.51. The firm’s 50 day moving average price is $345.58 and its 200 day moving average price is $346.37. The firm has a market cap of $630.99 billion, a P/E ratio of 33.62, a price-to-earnings-growth ratio of 2.27 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current 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, topping 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 last year, the business earned $2.42 earnings per share. Visa’s revenue was up 14.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company 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. The ex-dividend date was 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 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.