Alta Capital Management LLC Sells 1,511 Shares of Visa Inc. $V

Key Points

• Alta Capital Management LLC sold 1,511 shares of Visa Inc., reducing its stake by 1.7%, leaving it with 85,765 shares valued at approximately $30.45 million.
• Several institutional investors, including Callahan Advisors LLC and Uptick Partners LLC, have increased their positions in Visa during the second quarter, reflecting a broader trend among institutional ownership which now stands at 82.15%.
• Visa reported strong quarterly earnings with $10.17 billion in revenue and $2.98 EPS, surpassing analyst expectations, and announced a quarterly dividend of $0.59 per share.

Alta Capital Management LLC trimmed its position in Visa Inc. (NYSE:V - Free Report) by 1.7% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 85,765 shares of the credit-card processor's stock after selling 1,511 shares during the period. Visa comprises approximately 1.7% of Alta Capital Management LLC's holdings, making the stock its 24th largest holding. Alta Capital Management LLC's holdings in Visa were worth $30,451,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Callahan Advisors LLC boosted its position in shares of Visa by 4.1% in the 2nd quarter. Callahan Advisors LLC now owns 9,239 shares of the credit-card processor's stock worth $3,280,000 after purchasing an additional 360 shares during the last quarter. Uptick Partners LLC boosted its position in shares of Visa by 28.0% in the 2nd quarter. Uptick Partners LLC now owns 3,323 shares of the credit-card processor's stock worth $1,180,000 after purchasing an additional 726 shares during the last quarter. Keeler & Nadler Financial Planning & Wealth Management boosted its position in shares of Visa by 283.2% in the 2nd quarter. Keeler & Nadler Financial Planning & Wealth Management now owns 2,962 shares of the credit-card processor's stock worth $1,052,000 after purchasing an additional 2,189 shares during the last quarter. Dock Street Asset Management Inc. boosted its position in shares of Visa by 3.8% in the 2nd quarter. Dock Street Asset Management Inc. now owns 164,210 shares of the credit-card processor's stock worth $58,303,000 after purchasing an additional 5,953 shares during the last quarter. Finally, Generali Asset Management SPA SGR boosted its position in shares of Visa by 0.9% in the 2nd quarter. Generali Asset Management SPA SGR now owns 141,885 shares of the credit-card processor's stock worth $50,376,000 after purchasing an additional 1,197 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on V shares. Barclays restated an "overweight" rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Macquarie raised their price target on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Visa in a research note on Wednesday, October 8th. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Finally, Truist Financial dropped their price objective on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Visa currently has an average rating of "Moderate Buy" and a consensus target price of $389.00.

Visa Stock Performance

Shares of Visa stock opened at $341.90 on Monday. The stock's fifty day simple moving average is $344.30 and its 200 day simple moving average is $346.89. Visa Inc. has a 12 month low of $280.78 and a 12 month high of $375.51. The company has a market capitalization of $626.63 billion, a PE ratio of 33.39, a PEG ratio of 2.03 and a beta of 0.90. 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 results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter last year, the business posted $2.42 EPS. The company's revenue for the quarter was up 14.3% on a year-over-year basis. On average, research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were paid a $0.59 dividend. The ex-dividend date of this dividend 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 currently 23.05%.

Insider Activity

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company's stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa 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 completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at $183,815.10. This represents a 95.13% decrease in their position. 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.

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