DJE Kapital AG Trims Stock Position in Visa Inc. $V

Key Points

• DJE Kapital AG cut its Visa stake by 80.1% in Q1, selling 137,446 shares and leaving it with 34,192 shares valued at about $10.3 million.
• Visa reported strong quarterly results, with EPS of $3.31 and revenue of $11.23 billion, both ahead of Wall Street expectations; revenue rose 17.1% year over year.
• The company also boosted shareholder returns by authorizing a $20 billion share buyback and paying a quarterly dividend of $0.67 per share, while analysts remain broadly bullish with a consensus rating of Buy.

DJE Kapital AG trimmed its stake in shares of Visa Inc. (NYSE:V - Free Report) by 80.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,192 shares of the credit-card processor's stock after selling 137,446 shares during the quarter. DJE Kapital AG's holdings in Visa were worth $10,275,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FOCUS Wealth Advisors LLC lifted its holdings in shares of Visa by 0.4% during the fourth quarter. FOCUS Wealth Advisors LLC now owns 7,710 shares of the credit-card processor's stock worth $2,704,000 after purchasing an additional 31 shares during the period. Planned Solutions Inc. grew its position in Visa by 2.0% in the 4th quarter. Planned Solutions Inc. now owns 1,598 shares of the credit-card processor's stock valued at $560,000 after buying an additional 31 shares during the last quarter. Frederick Financial Consultants LLC increased its stake in Visa by 2.0% in the 4th quarter. Frederick Financial Consultants LLC now owns 1,598 shares of the credit-card processor's stock valued at $560,000 after buying an additional 31 shares during the period. Spinnaker Investment Group LLC increased its stake in Visa by 3.0% in the 4th quarter. Spinnaker Investment Group LLC now owns 1,088 shares of the credit-card processor's stock valued at $382,000 after buying an additional 32 shares during the period. Finally, Kuhn & Co Investment Counsel raised its position in Visa by 0.5% during the 4th quarter. Kuhn & Co Investment Counsel now owns 6,096 shares of the credit-card processor's stock worth $2,138,000 after buying an additional 32 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Price Performance

Visa stock opened at $361.25 on Tuesday. The company has a market cap of $648.00 billion, a P/E ratio of 31.47, a price-to-earnings-growth ratio of 1.91 and a beta of 0.75. Visa Inc. has a one year low of $293.89 and a one year high of $365.14. The business has a fifty day moving average of $335.15 and a two-hundred day moving average of $325.05. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping analysts' consensus estimates of $3.10 by $0.21. The business had revenue of $11.23 billion for the quarter, compared to analysts' expectations of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business's revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.76 EPS. As a group, analysts predict that Visa Inc. will post 13.11 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, May 12th. Visa's dividend payout ratio is presently 23.34%.

Visa declared that its Board of Directors has initiated a stock repurchase program on Tuesday, April 28th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the credit-card processor to purchase up to 3.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on V shares. UBS Group raised their target price on shares of Visa from $390.00 to $410.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Oppenheimer reiterated an "outperform" rating and set a $403.00 price target (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. Morgan Stanley reissued an "overweight" rating and set a $415.00 price target on shares of Visa in a report on Wednesday, April 29th. Piper Sandler initiated coverage on shares of Visa in a research report on Monday, June 29th. They issued an "overweight" rating and a $394.00 price objective for the company. Finally, Evercore set a $350.00 price objective on Visa in a report on Wednesday, April 29th. Seven investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $398.36.

Insiders Place Their Bets

In other Visa news, CFO Chris Suh sold 10,639 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total value of $3,455,653.59. Following the completion of the transaction, the chief financial officer directly owned 9,872 shares of the company's stock, valued at approximately $3,206,524.32. This trade represents a 51.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total transaction of $729,720.00. Following the sale, the general counsel owned 18,404 shares of the company's stock, valued at approximately $6,625,440. The trade was a 9.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 75,581 shares of company stock worth $25,627,975. 0.12% of the stock is owned by company insiders.

Visa Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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