AAFMAA Wealth Management & Trust LLC Sells 1,001 Shares of Visa Inc. $V

Key Points

• AAFMAA Wealth Management & Trust LLC reduced its stake in Visa Inc. by 13.9%, selling 1,001 shares to hold a total of 6,193 shares valued at approximately $2.2 million.
• Visa reported strong quarterly earnings with an EPS of $2.98, surpassing estimates, and a revenue of $10.17 billion, reflecting a 14.3% year-over-year increase.
• Insider transactions included CEO Ryan Mcinerney selling 8,630 shares, representing a 94.14% decrease in his position, while several institutional investors increased their holdings in Visa.

AAFMAA Wealth Management & Trust LLC decreased its holdings in Visa Inc. (NYSE:V - Free Report) by 13.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,193 shares of the credit-card processor's stock after selling 1,001 shares during the quarter. Visa accounts for approximately 0.9% of AAFMAA Wealth Management & Trust LLC's investment portfolio, making the stock its 28th biggest holding. AAFMAA Wealth Management & Trust LLC's holdings in Visa were worth $2,199,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock valued at $56,452,949,000 after buying an additional 1,677,088 shares during the last quarter. Northern Trust Corp increased its stake in Visa by 4.0% in the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock valued at $6,654,189,000 after buying an additional 726,299 shares during the last quarter. GAMMA Investing LLC increased its stake in Visa by 38,416.3% in the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after buying an additional 14,723,050 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Visa by 7.2% in 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 last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Visa by 3.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor's stock valued at $4,442,157,000 after buying an additional 434,217 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Visa Stock Up 0.7%

V opened at $337.15 on Friday. The company has a 50 day moving average of $344.65 and a 200 day moving average of $346.26. The company has a market cap of $617.93 billion, a PE ratio of 32.92, a price-to-earnings-growth ratio of 2.23 and a beta of 0.92. Visa Inc. has a 12 month low of $272.78 and a 12 month high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V - Get Free Report) last released 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. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period last year, the firm earned $2.42 EPS. On average, sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

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

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at $190,001.34. This trade represents a 94.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction 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 completion of the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $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. 0.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

V has been the subject of several analyst reports. Oppenheimer increased their price objective on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Morgan Stanley raised their price target on shares of Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Macquarie raised their price target on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research note on Thursday, July 17th. They set a "buy" rating and a $410.00 price target for the company. Finally, Raymond James Financial restated an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $385.96.

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.

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