Compagnie Lombard Odier SCmA Reduces Position in Visa Inc. $V

Key Points

• Compagnie Lombard Odier SCmA reduced its stake in Visa Inc. by 0.6%, now holding 1,032,305 shares, which represents 4.8% of its portfolio.
• Visa's CEO, Ryan Mcinerney, sold 8,630 shares worth over $3 million, reducing his ownership by 94.14%.
• The company reported strong quarterly earnings, with revenue of $10.17 billion, surpassing analyst expectations and marking a 14.3% increase compared to the previous year.

Compagnie Lombard Odier SCmA trimmed its stake in Visa Inc. (NYSE:V - Free Report) by 0.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,032,305 shares of the credit-card processor's stock after selling 6,706 shares during the quarter. Visa accounts for 4.8% of Compagnie Lombard Odier SCmA's portfolio, making the stock its 4th biggest holding. Compagnie Lombard Odier SCmA owned about 0.06% of Visa worth $366,520,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Keystone Global Partners LLC bought a new stake in Visa in the first quarter worth $26,000. von Borstel & Associates Inc. bought a new stake in Visa in the first quarter worth $27,000. Family Legacy Financial Solutions LLC bought a new stake in Visa in the second quarter worth $28,000. 1 North Wealth Services LLC purchased a new position in shares of Visa in the first quarter worth $38,000. Finally, Westend Capital Management LLC raised its stake in shares of Visa by 83.1% in the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor's stock worth $38,000 after purchasing an additional 49 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

Visa Stock Down 0.0%

Visa stock opened at $338.69 on Thursday. The stock has a market cap of $620.75 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 2.25 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a one year low of $268.23 and a one year high of $375.51. The stock has a fifty day moving average of $345.19 and a 200 day moving average of $346.27.

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

Visa Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa's payout ratio is currently 23.05%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on V shares. Morgan Stanley boosted their price target on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Citigroup started coverage on Visa in a research note on Monday, June 2nd. They issued a "buy" rating for the company. Oppenheimer boosted their price target on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Raymond James Financial restated an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Finally, Truist Financial decreased their price target on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $385.96.

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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