Visa Inc. $V Shares Sold by Townsend Asset Management Corp NC ADV

Townsend Asset Management Corp NC ADV reduced its stake in shares of Visa Inc. (NYSE:V) by 1.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,608 shares of the credit-card processor’s stock after selling 388 shares during the period. Visa makes up approximately 4.3% of Townsend Asset Management Corp NC ADV’s investment portfolio, making the stock its 6th biggest holding. Townsend Asset Management Corp NC ADV’s holdings in Visa were worth $11,932,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in V. Keystone Global Partners LLC acquired a new stake in shares of Visa in the first quarter worth $26,000. von Borstel & Associates Inc. acquired a new stake in shares of Visa in the first quarter worth $27,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Visa in the second quarter worth $28,000. Cranbrook Wealth Management LLC increased its stake in shares of Visa by 82.0% in the second 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 acquired a new stake in shares of Visa in the first quarter worth $38,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

V has been the topic of a number of research reports. Macquarie increased their price objective on shares of Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Morgan Stanley upped their price objective on shares of Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Citigroup assumed coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 price target on the stock. Finally, UBS Group reaffirmed a “buy” rating and issued a $415.00 price target (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $385.96.

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the company’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 completion of the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $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 Stock Performance

Visa stock opened at $337.15 on Monday. The firm has a 50 day simple moving average of $344.65 and a 200-day simple moving average of $346.48. Visa Inc. has a 1-year low of $272.78 and a 1-year high of $375.51. 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 stock has a market cap of $617.93 billion, a price-to-earnings ratio of 32.92, a price-to-earnings-growth ratio of 2.24 and a beta of 0.92.

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

Visa Announces Dividend

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

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.