Capital Asset Advisory Services LLC Sells 868 Shares of Visa Inc. $V

Key Points

• Capital Asset Advisory Services LLC reduced its stake in Visa Inc. by 6.3% during the second quarter, holding a total of 12,979 shares worth approximately $4.61 million after selling 868 shares.
• Visa's CEO, Ryan Mcinerney, sold 8,630 shares of the company on July 1st, decreasing his ownership by 94.14%, while General Counsel Julie B. Rottenberg also reduced her stake by 14.53%.
• $2.98 earnings per share (EPS) for the last quarter, surpassing analysts' expectations of $2.85, and experienced a revenue increase of 14.3% compared to the same quarter last year, reaching $10.17 billion.

Capital Asset Advisory Services LLC lowered its stake in shares of Visa Inc. (NYSE:V - Free Report) by 6.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,979 shares of the credit-card processor's stock after selling 868 shares during the quarter. Capital Asset Advisory Services LLC's holdings in Visa were worth $4,614,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of V. Keystone Global Partners LLC bought a new position in Visa in the 1st quarter valued at $26,000. von Borstel & Associates Inc. bought a new position in Visa in the 1st quarter valued at $27,000. 1 North Wealth Services LLC bought a new position in Visa in the 1st quarter valued at $38,000. Anderson Financial Strategies LLC bought a new position in Visa in the 1st quarter valued at $53,000. Finally, O Brien Wealth Partners LLC purchased a new position in shares of Visa during the 1st quarter valued at $54,000. Institutional investors own 82.15% of the company's stock.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, 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.

Visa Price Performance

V opened at $339.33 on Friday. The stock's 50 day simple moving average is $347.03 and its 200 day simple moving average is $346.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 1 year low of $268.23 and a 1 year high of $375.51. The firm has a market cap of $621.92 billion, a price-to-earnings ratio of 33.14, a PEG ratio of 2.29 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping 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 business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same period last year, the company earned $2.42 EPS. Visa's revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on V. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Oppenheimer upped their target price on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Citigroup started coverage on Visa in a research note on Monday, June 2nd. They issued a "buy" rating on the stock. Truist Financial decreased their target price on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Finally, Macquarie upped their target price on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. One investment 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. According to MarketBeat, the stock presently has an average 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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