EFG Asset Management North America Corp. Has $6.57 Million Stake in Visa Inc. $V

Key Points

• EFG Asset Management North America Corp. reduced its stake in Visa Inc. by 19.7%, holding 18,760 shares valued at approximately $6.57 million, making Visa the firm's 15th largest position.
• Visa reported quarterly earnings of $2.98 EPS, exceeding analysts' expectations of $2.85, with a revenue of $10.17 billion, showing a 14.3% increase compared to the previous year.
• The company declared a quarterly dividend of $0.59 per share, representing a 0.7% yield and a dividend payout ratio of 23.05%.

EFG Asset Management North America Corp. reduced its stake in Visa Inc. (NYSE:V - Free Report) by 19.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,760 shares of the credit-card processor's stock after selling 4,603 shares during the period. Visa comprises approximately 1.1% of EFG Asset Management North America Corp.'s investment portfolio, making the stock its 15th largest position. EFG Asset Management North America Corp.'s holdings in Visa were worth $6,573,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in V. Keystone Global Partners LLC bought a new stake in shares of Visa during the first quarter worth $26,000. von Borstel & Associates Inc. acquired a new stake in shares of Visa during the 1st quarter valued at $27,000. 1 North Wealth Services LLC bought a new stake in Visa during the 1st quarter worth $38,000. Measured Risk Portfolios Inc. bought a new stake in Visa during the 4th quarter worth $47,000. Finally, O Brien Wealth Partners LLC acquired a new position in Visa in the 1st quarter worth about $54,000. 82.15% of the stock is owned by institutional investors.

Visa Trading Up 0.1%

Shares of V stock opened at $350.35 on Thursday. Visa Inc. has a fifty-two week low of $268.23 and a fifty-two week 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 stock has a 50 day simple moving average of $348.56 and a two-hundred day simple moving average of $347.38. The company has a market cap of $642.11 billion, a P/E ratio of 34.21, a PEG ratio of 2.34 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion for 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%.The company's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.42 EPS. Research analysts forecast that Visa Inc. will post 11.3 earnings per share 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 $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's dividend payout ratio (DPR) is presently 23.05%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,293 shares of company stock valued at $8,114,295. Corporate insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Oppenheimer lifted their price target on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. UBS Group reiterated a "buy" rating and set a $415.00 target price (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Citigroup assumed coverage on shares of Visa in a research report on Monday, June 2nd. They issued a "buy" rating for the company. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a research note on Thursday, July 17th. They set a "buy" rating and a $410.00 price target for the company. One research 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $385.96.

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.

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