Delta Investment Management LLC Sells 3,598 Shares of Visa Inc. $V

Key Points

• Delta Investment Management LLC reduced its holdings in Visa Inc. by 46.8%, selling 3,598 shares, which left them with a total of 4,087 shares worth $1.43 million.
• Insider sales have been significant, with Paul D. Fabara selling 11,636 shares and CEO Ryan Mcinerney selling 8,630 shares, indicating a decrease in their stakes of 30.58% and 94.14%, respectively.
• Visa reported strong quarterly earnings with $2.98 EPS, surpassing expectations, and revenue growth of 14.3% year-over-year, amounting to $10.17 billion for the quarter.

Delta Investment Management LLC cut its stake in Visa Inc. (NYSE:V - Free Report) by 46.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,087 shares of the credit-card processor's stock after selling 3,598 shares during the period. Delta Investment Management LLC's holdings in Visa were worth $1,432,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Visa by 1.1% in the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock worth $56,452,949,000 after acquiring an additional 1,677,088 shares during the last quarter. Northern Trust Corp raised its holdings in Visa by 4.0% in the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock valued at $6,654,189,000 after buying an additional 726,299 shares during the period. GAMMA Investing LLC raised its holdings in Visa by 38,416.3% in the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after buying an additional 14,723,050 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Visa by 14.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,321,754 shares of the credit-card processor's stock valued at $4,210,207,000 after buying an additional 1,723,785 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in Visa by 1.3% in the fourth quarter. Ameriprise Financial Inc. now owns 12,796,415 shares of the credit-card processor's stock valued at $4,045,149,000 after buying an additional 164,008 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

Shares of NYSE V traded down $0.25 during mid-day trading on Thursday, reaching $350.10. The company had a trading volume of 4,987,056 shares, compared to its average volume of 6,288,815. The stock has a market cap of $641.65 billion, a PE ratio of 34.19, a P/E/G ratio of 2.33 and a beta of 0.94. The company has a 50-day moving average price of $348.07 and a two-hundred day moving average price of $347.44. 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 Inc. has a 1-year low of $268.23 and a 1-year high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $9.82 billion. During the same quarter in the previous year, the company posted $2.42 earnings per share. Visa's revenue for the quarter was up 14.3% compared to the same quarter last year. On average, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is 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%.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the transaction, the insider directly owned 26,413 shares in the company, valued at $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm'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 transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,127 shares of company stock valued at $28,340,553 in the last three months. Corporate insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on V. Barclays restated an "overweight" rating and issued a $408.00 price target (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Piper Sandler raised their price target on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Raymond James Financial restated an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and raised their price target for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Finally, William Blair reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $380.84.

About Visa

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.