Visa Inc. $V Shares Sold by Evelyn Partners Investment Management Europe Ltd

Evelyn Partners Investment Management Europe Ltd reduced its position in shares of Visa Inc. (NYSE:V) by 63.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,717 shares of the credit-card processor’s stock after selling 6,400 shares during the period. Visa comprises approximately 1.5% of Evelyn Partners Investment Management Europe Ltd’s holdings, making the stock its 17th largest holding. Evelyn Partners Investment Management Europe Ltd’s holdings in Visa were worth $1,320,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in V. Evelyn Partners Asset Management Ltd increased its stake in Visa by 103.0% during the second quarter. Evelyn Partners Asset Management Ltd now owns 70,460 shares of the credit-card processor’s stock valued at $25,017,000 after purchasing an additional 35,748 shares during the last quarter. AXQ Capital LP grew its position in shares of Visa by 151.4% during the 2nd quarter. AXQ Capital LP now owns 5,415 shares of the credit-card processor’s stock valued at $1,923,000 after buying an additional 3,261 shares during the last quarter. Cooper Haims Advisors LLC raised its stake in Visa by 5.3% during the second quarter. Cooper Haims Advisors LLC now owns 1,596 shares of the credit-card processor’s stock worth $567,000 after acquiring an additional 80 shares during the period. Journey Strategic Wealth LLC lifted its holdings in Visa by 41.2% in the second quarter. Journey Strategic Wealth LLC now owns 17,563 shares of the credit-card processor’s stock worth $6,236,000 after acquiring an additional 5,124 shares during the last quarter. Finally, CFC Planning Co LLC boosted its stake in Visa by 3.8% in the second quarter. CFC Planning Co LLC now owns 5,588 shares of the credit-card processor’s stock valued at $1,984,000 after acquiring an additional 207 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,117. This represents a 95.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the sale, the director directly owned 2,468 shares of the company’s stock, valued at $830,432.64. This trade represents a 26.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 24,042 shares of company stock worth $8,175,152. 0.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Barclays reiterated an “overweight” rating and set a $408.00 price target (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. KeyCorp reiterated an “overweight” rating and issued a $405.00 target price on shares of Visa in a research note on Wednesday, October 22nd. Robert W. Baird set a $425.00 price target on shares of Visa in a research report on Wednesday, October 29th. Finally, Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Price Performance

Shares of NYSE V opened at $328.24 on Friday. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average of $340.46 and a two-hundred day moving average of $347.92. The company has a market capitalization of $597.97 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 1.92 and a beta of 0.87.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter in the prior year, the firm earned $2.71 EPS. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. This is a positive change from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 12th. Visa’s payout ratio is currently 26.25%.

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.