Focus Financial Network Inc. Reduces Stock Holdings in Visa Inc. $V

Key Points

• Focus Financial Network Inc. reduced its stake in Visa Inc. by 19.1% during the second quarter, owning 11,750 shares worth approximately $4.17 million after selling 2,775 shares.
• Visa's CEO and General Counsel sold significant shares recently, with the CEO reducing their position by 94.14%, highlighting a trend of insider selling.
• Analysts maintain a consensus rating of "Moderate Buy" on Visa, with an average target price of $385.96, despite a recent price adjustment by some firms.

Focus Financial Network Inc. trimmed its stake in Visa Inc. (NYSE:V - Free Report) by 19.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,750 shares of the credit-card processor's stock after selling 2,775 shares during the period. Focus Financial Network Inc.'s holdings in Visa were worth $4,172,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC lifted its stake in shares of Visa by 38,416.3% during the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock worth $5,173,271,000 after acquiring an additional 14,723,050 shares during the last quarter. Nuveen LLC bought a new stake in shares of Visa during the 1st quarter worth approximately $3,518,533,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Visa during the 4th quarter worth approximately $673,689,000. Vanguard Group Inc. lifted its stake in shares of Visa by 1.1% during the 1st 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. Finally, Wellington Management Group LLP lifted its stake in shares of Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor's stock worth $3,847,953,000 after acquiring an additional 1,651,954 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction on 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 transaction, the chief executive officer owned 537 shares in the company, 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. Company insiders own 0.13% of the company's stock.

Visa Stock Down 2.2%

Shares of NYSE:V traded down $7.75 on Thursday, reaching $338.45. The company had a trading volume of 7,518,650 shares, compared to its average volume of 4,913,677. Visa Inc. has a 52-week low of $268.23 and a 52-week high of $375.51. The firm's 50 day simple moving average is $345.81 and its 200-day simple moving average is $346.47. The firm has a market capitalization of $620.32 billion, a PE ratio of 33.05, a PEG ratio of 2.30 and a beta of 0.92. 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 (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) 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 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 expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were issued a $0.59 dividend. The ex-dividend date was 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 currently 23.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Oppenheimer raised their price target on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Macquarie raised their price target on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Truist Financial decreased their price target on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Finally, Morgan Stanley lifted their target price on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $385.96.

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.