Visa Inc. $V Holdings Cut by AA Financial Advisors LLC

Key Points

• AA Financial Advisors LLC reduced its stake in Visa Inc. by 16.9% during the second quarter, now holding 4,098 shares valued at approximately $1.45 million.
• Analysts have recently set new price targets for Visa, with Barclays raising their target to $408.00 and Jefferies Financial Group increasing it to $410.00 , indicating a positive outlook for the stock.
• Visa reported a Q2 earnings per share (EPS) of $2.98, exceeding analysts' estimates of $2.85, alongside a revenue of $10.17 billion, reflecting a 14.3% increase year-over-year.

AA Financial Advisors LLC cut its holdings in Visa Inc. (NYSE:V - Free Report) by 16.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,098 shares of the credit-card processor's stock after selling 835 shares during the period. AA Financial Advisors LLC's holdings in Visa were worth $1,455,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Lakeridge Wealth Management LLC grew its stake in shares of Visa by 5.7% during the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after buying an additional 81 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Visa by 14.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock valued at $159,523,000 after buying an additional 57,800 shares during the period. Iron Gate Global Advisors LLC grew its stake in shares of Visa by 5.9% during the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock valued at $22,040,000 after buying an additional 3,484 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Visa by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock valued at $5,003,569,000 after buying an additional 955,392 shares during the period. Finally, Yeomans Consulting Group Inc. grew its stake in shares of Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after buying an additional 29 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Performance

NYSE V traded down $4.94 on Tuesday, hitting $339.42. The stock had a trading volume of 2,683,816 shares, compared to its average volume of 6,448,981. Visa Inc. has a one year low of $268.23 and a one year high of $375.51. 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 stock has a market cap of $622.09 billion, a price-to-earnings ratio of 33.17, a P/E/G ratio of 2.27 and a beta of 0.92. The company's 50-day moving average is $345.58 and its two-hundred day moving average is $346.37.

Visa (NYSE:V - Get Free Report) last posted its earnings results 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 net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter in the prior year, the firm earned $2.42 EPS. Visa's quarterly revenue was up 14.3% on a year-over-year basis. On average, analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were issued a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's dividend payout ratio (DPR) is 23.05%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on V. The Goldman Sachs Group started coverage on shares of Visa in a research note on Monday, June 2nd. They set a "neutral" rating for the company. Truist Financial decreased their price target on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Erste Group Bank cut shares of Visa from a "buy" rating to a "hold" rating in a research report on Monday. Jefferies Financial Group upped their price target on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Finally, Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Visa currently has a consensus rating of "Moderate Buy" and a consensus target price of $385.96.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the 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 of the company's stock, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel directly 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. Company insiders own 0.13% of the company's stock.

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.