Charles Schwab Trust Co Sells 1,833 Shares of Visa Inc. $V

Charles Schwab Trust Co reduced its position in Visa Inc. (NYSE:V) by 45.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,201 shares of the credit-card processor’s stock after selling 1,833 shares during the period. Charles Schwab Trust Co’s holdings in Visa were worth $781,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in shares of Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after purchasing an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after purchasing an additional 4,817 shares during the last quarter. Summit Global Investments purchased a new stake in shares of Visa during the 1st quarter worth $232,000. Baker Tilly Wealth Management LLC lifted its stake in shares of Visa by 2.9% during the 1st quarter. Baker Tilly Wealth Management LLC now owns 12,465 shares of the credit-card processor’s stock worth $4,369,000 after purchasing an additional 348 shares during the last quarter. Finally, Worth Asset Management LLC lifted its stake in shares of Visa by 218.6% during the 1st quarter. Worth Asset Management LLC now owns 6,381 shares of the credit-card processor’s stock worth $2,236,000 after purchasing an additional 4,378 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was 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 in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

V has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft initiated 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. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Citigroup began coverage on Visa in a research note on Monday, June 2nd. They issued a “buy” rating for the company. Macquarie increased their price target on Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Finally, Raymond James Financial reiterated an “outperform” rating 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 assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus target price of $385.96.

Visa Trading Up 0.9%

Shares of NYSE:V opened at $340.27 on Tuesday. Visa Inc. has a 52-week low of $273.20 and a 52-week high of $375.51. The stock has a market cap of $623.64 billion, a price-to-earnings ratio of 33.23, a PEG ratio of 2.24 and a beta of 0.92. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $344.44 and a 200-day moving average price of $346.54.

Visa (NYSE:V) last announced its quarterly earnings data 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. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.82 billion. During the same period last year, the business posted $2.42 earnings per share. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. Equities analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were paid 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 (DPR) is presently 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.