Riverbridge Partners LLC Sells 4,787 Shares of Visa Inc. $V

Riverbridge Partners LLC lessened its position in Visa Inc. (NYSE:V) by 2.8% during the 2nd quarter, Holdings Channel reports. The firm owned 165,761 shares of the credit-card processor’s stock after selling 4,787 shares during the quarter. Riverbridge Partners LLC’s holdings in Visa were worth $58,853,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

V has been the subject of several analyst reports. UBS Group reiterated a “buy” rating and set a $415.00 price target (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Barclays reissued an “overweight” rating and issued a $408.00 price target (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Mizuho raised Visa from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Raymond James Financial reissued an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group initiated coverage on Visa in a research report on Monday, June 2nd. They set a “neutral” rating for the company. 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $385.96.

Visa Price Performance

NYSE:V opened at $335.09 on Friday. The stock’s 50-day simple moving average is $344.89 and its 200 day simple moving average is $346.22. Visa Inc. has a 52-week low of $270.00 and a 52-week high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $614.15 billion, a P/E ratio of 32.72, a P/E/G ratio of 2.25 and a beta of 0.92.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS 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 company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter last year, the firm posted $2.42 EPS. The company’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis 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%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the firm’s stock in a transaction 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 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 at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company’s stock, 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.

About Visa

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.