Visa Inc. $V Shares Sold by Wallington Asset Management LLC

Wallington Asset Management LLC trimmed its position in Visa Inc. (NYSE:V) by 17.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 68,150 shares of the credit-card processor’s stock after selling 14,345 shares during the period. Visa accounts for 3.4% of Wallington Asset Management LLC’s investment portfolio, making the stock its 9th biggest holding. Wallington Asset Management LLC’s holdings in Visa were worth $24,197,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Keystone Global Partners LLC acquired a new position in Visa in the 1st quarter worth approximately $26,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Visa in the 2nd quarter valued at $28,000. von Borstel & Associates Inc. acquired a new stake in shares of Visa in the first quarter worth $27,000. 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, Westend Capital Management LLC raised its holdings in shares of Visa by 83.1% during the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor’s stock worth $38,000 after purchasing an additional 49 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Down 0.2%

V stock opened at $349.21 on Tuesday. The stock has a market capitalization of $640.03 billion, a P/E ratio of 34.10, a P/E/G ratio of 2.07 and a beta of 0.90. Visa Inc. has a 52 week low of $273.24 and a 52 week high of $375.51. The firm has a 50-day simple moving average of $343.65 and a 200-day simple moving average of $346.89. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 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 company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same period in the previous year, the business earned $2.42 EPS. Visa’s quarterly revenue was up 14.3% on a year-over-year basis. Equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on V shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price target on the stock. UBS Group restated a “buy” rating and issued a $415.00 target price (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Robert W. Baird set a $410.00 target price on Visa and gave the stock an “outperform” rating in a report on Monday. Truist Financial decreased their price target on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Finally, Barclays reaffirmed an “overweight” rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $389.00.

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.