Argent Capital Management LLC Reduces Holdings in Visa Inc. $V

Key Points

• Argent Capital Management LLC reduced its stake in Visa Inc. by 1.1%, holding 256,263 shares worth approximately $90.99 million, making it the fund's 10th largest holding.
• CEO Ryan Mcinerney sold over 8,600 shares of Visa stock, representing a 94.14% decrease in his ownership, while General Counsel Julie B. Rottenberg also sold shares, decreasing her stake by 14.53%.
• Analysts have set new price targets for Visa, with suggestions ranging from $397 to $425, while the stock currently has a consensus rating of "Moderate Buy".

Argent Capital Management LLC lowered its stake in Visa Inc. (NYSE:V - Free Report) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 256,263 shares of the credit-card processor's stock after selling 2,725 shares during the period. Visa accounts for about 2.6% of Argent Capital Management LLC's holdings, making the stock its 10th largest holding. Argent Capital Management LLC's holdings in Visa were worth $90,986,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after buying an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after acquiring an additional 4,817 shares during the last quarter. Ameriflex Group Inc. bought a new position in Visa in the 4th quarter valued at approximately $143,000. Brooklyn FI LLC purchased a new stake in Visa during the 4th quarter valued at $454,000. Finally, Total Wealth Planning & Management Inc. purchased a new stake in Visa during the 4th quarter valued at $619,000. 82.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other 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 sale, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 approximately $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

Visa Trading Down 1.7%

Shares of Visa stock opened at $338.66 on Wednesday. Visa Inc. has a fifty-two week low of $268.23 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $620.70 billion, a P/E ratio of 33.07, a P/E/G ratio of 2.29 and a beta of 0.92. The company has a fifty day moving average of $345.41 and a 200 day moving average of $346.32.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business's revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.42 earnings per share. On average, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on V shares. Truist Financial lowered their price target on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Macquarie boosted their target price on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Raymond James Financial restated an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Jefferies Financial Group lifted their price target on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Visa has a consensus rating of "Moderate Buy" and a consensus price target of $385.96.

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.

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