Eaton Financial Holdings Company LLC Decreases Stock Holdings in Visa Inc. $V

Key Points

• Eaton Financial Holdings Company LLC reduced its stake in Visa Inc. by 27.8% during the 2nd quarter, selling 1,060 shares and ending with 2,757 shares worth $979,000.
• Visa announced a quarterly dividend of $0.59 per share, with a yield of 0.7% and a payout ratio of 23.05%.
• Visa's quarterly earnings of $2.98 per share exceeded estimates, reflecting a year-over-year revenue increase of 14.3% to $10.17 billion.

Eaton Financial Holdings Company LLC trimmed its position in shares of Visa Inc. (NYSE:V - Free Report) by 27.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,757 shares of the credit-card processor's stock after selling 1,060 shares during the quarter. Eaton Financial Holdings Company LLC's holdings in Visa were worth $979,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Yeomans Consulting Group Inc. lifted its position in shares of Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after buying an additional 29 shares during the last quarter. Semus Wealth Partners LLC lifted its position in shares of Visa by 0.8% during the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock valued at $1,209,000 after buying an additional 29 shares during the last quarter. Kennebec Savings Bank raised its position in shares of Visa by 0.9% in the 1st quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock valued at $1,182,000 after purchasing an additional 30 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in shares of Visa by 0.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 3,839 shares of the credit-card processor's stock valued at $1,345,000 after purchasing an additional 30 shares during the last quarter. Finally, Wood Tarver Financial Group LLC raised its position in shares of Visa by 11.1% in the 1st quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor's stock valued at $105,000 after purchasing an additional 30 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of NYSE:V opened at $338.69 on Thursday. Visa Inc. has a twelve month low of $268.23 and a twelve month high of $375.51. The company's 50 day moving average is $345.19 and its 200 day moving average is $346.27. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company 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.

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, topping 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 the consensus estimate of $9.82 billion. During the same quarter in the prior year, the company earned $2.42 EPS. Visa's quarterly revenue was up 14.3% on a year-over-year basis. On average, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on V shares. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. The Goldman Sachs Group started coverage on shares of Visa in a research report on Monday, June 2nd. They issued a "neutral" rating for the company. Truist Financial decreased their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Oppenheimer increased their price objective on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Barclays reaffirmed an "overweight" rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $385.96.

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction that occurred on Tuesday, July 1st. The shares were 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 of the company's stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

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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