Gateway Investment Advisers LLC Lowers Stock Holdings in Visa Inc. $V

Key Points

• Gateway Investment Advisers LLC has reduced its holdings in Visa Inc. by 2.0%, now owning 464,948 shares valued at approximately $165 million, making it the 10th largest holding in their portfolio.
• Analysts have set a consensus rating of "Moderate Buy" for Visa, with price targets ranging from $385.96 to $410.00 from various research firms.
• Visa recently announced a quarterly dividend of $0.59 per share, translating to an annualized dividend of $2.36 and a yield of 0.7%.

Gateway Investment Advisers LLC reduced its position in Visa Inc. (NYSE:V - Free Report) by 2.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 464,948 shares of the credit-card processor's stock after selling 9,604 shares during the period. Visa accounts for approximately 1.8% of Gateway Investment Advisers LLC's portfolio, making the stock its 10th largest holding. Gateway Investment Advisers LLC's holdings in Visa were worth $165,080,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Keystone Global Partners LLC bought a new stake in shares of Visa during the first quarter valued at about $26,000. von Borstel & Associates Inc. bought a new stake in shares of Visa during the first quarter valued at about $27,000. 1 North Wealth Services LLC bought a new stake in shares of Visa during the first quarter valued at about $38,000. Anderson Financial Strategies LLC bought a new stake in shares of Visa during the first quarter valued at about $53,000. Finally, O Brien Wealth Partners LLC bought a new stake in shares of Visa during the first quarter valued at about $54,000. 82.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on V shares. Truist Financial cut their price objective on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Morgan Stanley boosted their price objective on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. The Goldman Sachs Group started coverage on Visa in a report on Monday, June 2nd. They set a "neutral" rating for the company. Raymond James Financial reissued an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Visa in a report on Thursday, July 17th. They set a "buy" rating and a $410.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $385.96.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on 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 owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.

Visa Stock Up 0.3%

Shares of V opened at $339.92 on Wednesday. The firm has a market cap of $623.00 billion, a P/E ratio of 33.20, a P/E/G ratio of 2.26 and a beta of 0.92. The stock has a 50 day simple moving average of $346.38 and a two-hundred day simple moving average of $346.64. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 1 year low of $268.23 and a 1 year high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.42 earnings per share. On average, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

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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