Evanson Asset Management LLC Has $773,000 Holdings in Visa Inc. $V

Evanson Asset Management LLC cut its position in shares of Visa Inc. (NYSE:V) by 2.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,178 shares of the credit-card processor’s stock after selling 62 shares during the quarter. Evanson Asset Management LLC’s holdings in Visa were worth $773,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Keystone Global Partners LLC purchased a new stake in shares of Visa in the first quarter valued at $26,000. von Borstel & Associates Inc. purchased a new stake in Visa in the 1st quarter worth about $27,000. Family Legacy Financial Solutions LLC purchased a new stake in Visa in the 2nd quarter worth about $28,000. Cranbrook Wealth Management LLC boosted its position in Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 41 shares during the period. Finally, 1 North Wealth Services LLC purchased a new position in Visa during the 1st quarter valued at about $38,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Trading Down 1.1%

Visa stock opened at $335.09 on Friday. Visa Inc. has a one year low of $270.00 and a one year high of $375.51. The company’s fifty day moving average price is $344.89 and its two-hundred day moving average price is $346.22. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $614.15 billion, a price-to-earnings ratio of 32.72, a PEG ratio of 2.25 and a beta of 0.92.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.42 EPS. On average, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on V shares. Raymond James Financial reissued an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. Oppenheimer upped their price objective on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Truist Financial decreased their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Barclays restated 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. Finally, Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a report on Monday. One 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $385.96.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,630 shares of the business’s 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 completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’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 sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This represents 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.

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.