Visa Inc. (NYSE:V) Holdings Decreased by Geneos Wealth Management Inc.

Key Points

• Geneos Wealth Management Inc. decreased its stake in Visa Inc. by 5.6%, owning a total of 24,051 shares worth approximately $8.43 million as of the latest SEC filing.
• Visa reported earnings of $2.76 per share for the quarter, exceeding analyst estimates, and showed a 9.3% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.59 per share, yielding 0.66% annually, with a dividend payout ratio of 23.72%.

Geneos Wealth Management Inc. trimmed its stake in Visa Inc. (NYSE:V - Free Report) by 5.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 24,051 shares of the credit-card processor's stock after selling 1,414 shares during the period. Geneos Wealth Management Inc.'s holdings in Visa were worth $8,429,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. von Borstel & Associates Inc. purchased a new stake in Visa in the 1st quarter valued at $27,000. Measured Risk Portfolios Inc. purchased a new position in Visa during the 4th quarter worth $47,000. Navigoe LLC purchased a new position in Visa during the 4th quarter worth $53,000. O Brien Wealth Partners LLC purchased a new position in Visa during the 1st quarter worth $54,000. Finally, Hurley Capital LLC purchased a new position in Visa during the 4th quarter worth $56,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the firm'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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul D. Fabara sold 46,214 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the sale, the insider owned 26,413 shares in the company, valued at $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,913 shares of company stock valued at $32,902,432. 0.13% of the stock is currently owned by corporate insiders.

Visa Stock Down 2.0%

Shares of V stock traded down $6.93 during mid-day trading on Friday, reaching $338.54. 5,756,968 shares of the company were exchanged, compared to its average volume of 6,610,929. Visa Inc. has a fifty-two week low of $254.51 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.08 and a current ratio of 1.12. The company has a market capitalization of $624.67 billion, a P/E ratio of 33.07, a P/E/G ratio of 2.36 and a beta of 0.92. The business's 50 day simple moving average is $355.36 and its 200 day simple moving average is $346.13.

Visa (NYSE:V - Get Free Report) last released 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 net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter last year, the company earned $2.42 earnings per share. The business's quarterly revenue was up 14.3% compared to the same quarter last year. Research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be 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 of this dividend is Tuesday, August 12th. Visa's payout ratio is currently 23.05%.

Wall Street Analyst Weigh In

A number of brokerages have commented on V. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Barclays reaffirmed an "overweight" rating and set a $408.00 price target (up from $396.00) on shares of Visa in a research note on Thursday. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday. Morgan Stanley upped their price target on shares of Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Jefferies Financial Group increased their price objective on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $380.84.

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.