CWA Asset Management Group LLC Sells 740 Shares of Visa Inc. $V

Key Points

• CWA Asset Management Group LLC reduced its holdings in Visa Inc. by 1.1%, selling 740 shares and now owning approximately $23.8 million worth of the stock.
• Despite CWA's sell-off, other institutional investors such as Lakeridge Wealth Management LLC and Fjarde AP Fonden have increased their Visa holdings during the first quarter of the year.
• Visa recently reported quarterly earnings of $2.98 per share, surpassing consensus estimates, alongside announcing a $0.59 quarterly dividend with a yield of 0.7%.

CWA Asset Management Group LLC decreased its holdings in Visa Inc. (NYSE:V - Free Report) by 1.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,106 shares of the credit-card processor's stock after selling 740 shares during the period. Visa comprises approximately 1.0% of CWA Asset Management Group LLC's investment portfolio, making the stock its 19th biggest holding. CWA Asset Management Group LLC's holdings in Visa were worth $23,826,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Lakeridge Wealth Management LLC increased its position in shares of Visa by 5.7% during the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after purchasing an additional 81 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Visa by 14.5% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock worth $159,523,000 after purchasing an additional 57,800 shares in the last quarter. Iron Gate Global Advisors LLC increased its position in shares of Visa by 5.9% during the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock worth $22,040,000 after purchasing an additional 3,484 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of 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 acquiring an additional 955,392 shares during the period. Finally, Yeomans Consulting Group Inc. increased its position in shares of Visa by 2.9% in the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after acquiring an additional 29 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by company insiders.

Visa Price Performance

NYSE:V opened at $341.34 on Wednesday. Visa Inc. has a one year low of $273.24 and a one year 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 firm has a market cap of $625.61 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 2.26 and a beta of 0.92. The firm's fifty day moving average is $344.23 and its two-hundred day moving average is $346.51.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results 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. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same period in the prior year, the company earned $2.42 earnings per share. The firm's revenue was up 14.3% on a year-over-year basis. Research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on V shares. Barclays reissued an "overweight" rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Truist Financial cut their target price on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft started coverage on Visa in a research report on Thursday, July 17th. They issued a "buy" rating and a $410.00 target price on the stock. Finally, Oppenheimer upped their target price on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. One 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, Visa presently has a consensus rating of "Moderate Buy" and an average 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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