Financial Advisory Partners LLC Sells 750 Shares of Visa Inc. $V

Key Points

• Financial Advisory Partners LLC reduced its position in Visa Inc. by 5.9%, selling 750 shares and holding 11,876 shares worth approximately $4.2 million.
• Visa recently reported quarterly earnings of $2.98 per share, exceeding analysts' estimates, with a net revenue of $10.17 billion, up 14.3% year-over-year.
• The company declared a quarterly dividend of $0.59 per share, representing an annualized dividend of $2.36 and a yield of 0.7%.

Financial Advisory Partners LLC trimmed its position in Visa Inc. (NYSE:V - Free Report) by 5.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 11,876 shares of the credit-card processor's stock after selling 750 shares during the period. Visa accounts for approximately 1.3% of Financial Advisory Partners LLC's investment portfolio, making the stock its 24th biggest position. Financial Advisory Partners LLC's holdings in Visa were worth $4,217,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Lewis Asset Management LLC lifted its stake in shares of Visa by 74.8% in the 2nd quarter. Lewis Asset Management LLC now owns 4,092 shares of the credit-card processor's stock valued at $1,453,000 after acquiring an additional 1,751 shares during the last quarter. Toth Financial Advisory Corp lifted its stake in shares of Visa by 2.9% in the 2nd quarter. Toth Financial Advisory Corp now owns 48,978 shares of the credit-card processor's stock valued at $17,390,000 after acquiring an additional 1,401 shares during the last quarter. Park Avenue Securities LLC lifted its stake in shares of Visa by 12.7% in the 2nd quarter. Park Avenue Securities LLC now owns 106,334 shares of the credit-card processor's stock valued at $37,754,000 after acquiring an additional 11,975 shares during the last quarter. Clio Asset Management LLC lifted its stake in shares of Visa by 11.8% in the 2nd quarter. Clio Asset Management LLC now owns 27,083 shares of the credit-card processor's stock valued at $9,616,000 after acquiring an additional 2,857 shares during the last quarter. Finally, Matrix Trust Co lifted its stake in shares of Visa by 50.3% in the 2nd quarter. Matrix Trust Co now owns 983 shares of the credit-card processor's stock valued at $349,000 after acquiring an additional 329 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Performance

Shares of Visa stock opened at $344.28 on Tuesday. 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 business has a 50-day moving average price of $345.58 and a two-hundred day moving average price of $346.37. Visa Inc. has a 1-year low of $268.23 and a 1-year high of $375.51. The company has a market cap of $630.99 billion, a P/E ratio of 33.62, a PEG ratio of 2.27 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 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 firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same period last year, the business posted $2.42 EPS. The business's revenue was up 14.3% compared to the same quarter last year. As a group, analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.59 per share. 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%.

Analyst Ratings Changes

Several brokerages recently issued reports on V. Deutsche Bank Aktiengesellschaft began coverage on Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 target price for the company. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. UBS Group reaffirmed 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. Truist Financial lowered their target price on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Finally, Jefferies Financial Group raised their target price on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Visa currently has a consensus rating of "Moderate Buy" and a consensus price target of $385.96.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 completion of the sale, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

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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