1248 Management LLC Lowers Holdings in Visa Inc. $V

Key Points

• 1248 Management LLC reduced its stake in Visa Inc. by 30.6%, selling 1,760 shares, and now holds 3,985 shares worth approximately $1,396,000, representing 0.8% of its portfolio.
• Visa announced a quarterly dividend of $0.59 per share, which will be paid on September 2nd, with an annualized dividend yield of 0.7%.
• Visa reported earnings of $2.98 per share for the last quarter, exceeding estimates, with a revenue of $10.17 billion, marking a 14.3% increase compared to the previous year.

1248 Management LLC cut its stake in shares of Visa Inc. (NYSE:V - Free Report) by 30.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,985 shares of the credit-card processor's stock after selling 1,760 shares during the period. Visa accounts for approximately 0.8% of 1248 Management LLC's portfolio, making the stock its 22nd largest holding. 1248 Management LLC's holdings in Visa were worth $1,396,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in V. FWL Investment Management LLC grew its position in shares of Visa by 0.5% during the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock worth $2,005,000 after buying an additional 29 shares in the last quarter. Yeomans Consulting Group Inc. raised its position in Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after acquiring an additional 29 shares in the last quarter. Semus Wealth Partners LLC raised its position in Visa by 0.8% during the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock valued at $1,209,000 after acquiring an additional 29 shares in the last quarter. Headinvest LLC grew its holdings in Visa by 0.8% in the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock valued at $1,265,000 after purchasing an additional 30 shares during the period. Finally, Kennebec Savings Bank boosted its stake in shares of Visa by 0.9% in the first quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock worth $1,182,000 after acquiring an additional 30 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on V. Deutsche Bank Aktiengesellschaft began coverage on Visa in a research report on Thursday, July 17th. They issued a "buy" rating and a $410.00 target price on the stock. UBS Group reiterated a "buy" rating and issued a $415.00 price objective (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Oppenheimer lifted their target price on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Truist Financial reduced their price objective 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 issued a $408.00 price objective (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $383.17.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction on 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 of the company's stock, valued at $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. In the last ninety days, insiders sold 68,507 shares of company stock worth $25,213,475. Company insiders own 0.13% of the company's stock.

Visa Stock Performance

Visa stock traded up $0.28 during midday trading on Wednesday, reaching $350.35. 4,035,793 shares of the company traded hands, compared to its average volume of 5,490,003. Visa Inc. has a 12 month low of $268.23 and a 12 month high of $375.51. The firm has a market capitalization of $642.11 billion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth ratio of 2.34 and a beta of 0.92. 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 business has a 50 day moving average of $348.47 and a two-hundred day moving average of $347.36.

Visa (NYSE:V - Get Free Report) last posted its 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. The company had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa's quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the company posted $2.42 earnings per share. As a group, research analysts predict that Visa Inc. will post 11.3 earnings per share 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 given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa's payout ratio 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.