Draper Asset Management LLC Decreases Holdings in Visa Inc. $V

Draper Asset Management LLC decreased its position in shares of Visa Inc. (NYSE:V) by 7.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,016 shares of the credit-card processor’s stock after selling 77 shares during the quarter. Visa accounts for about 0.2% of Draper Asset Management LLC’s holdings, making the stock its 27th biggest position. Draper Asset Management LLC’s holdings in Visa were worth $354,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its stake in Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after buying an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after buying an additional 4,817 shares in the last quarter. Hidden Cove Wealth Management LLC lifted its stake in Visa by 27.7% in the 1st quarter. Hidden Cove Wealth Management LLC now owns 903 shares of the credit-card processor’s stock valued at $316,000 after buying an additional 196 shares in the last quarter. Diversified Trust Co lifted its stake in Visa by 23.2% in the 1st quarter. Diversified Trust Co now owns 63,747 shares of the credit-card processor’s stock valued at $22,341,000 after buying an additional 12,000 shares in the last quarter. Finally, Park Place Capital Corp lifted its stake in Visa by 18.3% in the 1st quarter. Park Place Capital Corp now owns 11,800 shares of the credit-card processor’s stock valued at $4,135,000 after buying an additional 1,824 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. This represents a 95.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction 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 completion of the sale, the general counsel 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. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on V. Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Wells Fargo & Company raised Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Citigroup raised Visa to a “strong-buy” rating in a research note on Thursday. KeyCorp reissued an “overweight” rating and set a $405.00 price target on shares of Visa in a research note on Wednesday, October 22nd. Finally, Morgan Stanley increased their price target on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $392.75.

Visa Trading Up 0.4%

V stock opened at $347.34 on Monday. The company has a market cap of $636.60 billion, a price-to-earnings ratio of 33.92, a PEG ratio of 2.05 and a beta of 0.90. 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 fifty day simple moving average of $344.79 and a 200-day simple moving average of $347.98. Visa Inc. has a 52 week low of $280.78 and a 52 week high of $375.51.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. The business 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 business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.42 EPS. On average, equities research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a $0.59 dividend. 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 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.