Global Trust Asset Management LLC Trims Stock Position in Visa Inc. $V

Key Points

• Global Trust Asset Management LLC reduced its holdings in Visa Inc. by 10.9%, now owning 9,477 shares valued at approximately $3.37 million.
• Several institutional investors have increased their positions in Visa, with UBS Asset Management growing its stake by 7.2% and holding 14.2 million shares valued at over $5 billion.
• Visa's quarterly earnings report showed a 14.3% year-over-year revenue increase, reporting $10.17 billion in revenue and an EPS of $2.98, exceeding analysts' expectations.

Global Trust Asset Management LLC cut its stake in shares of Visa Inc. (NYSE:V - Free Report) by 10.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,477 shares of the credit-card processor's stock after selling 1,158 shares during the period. Visa makes up 1.8% of Global Trust Asset Management LLC's holdings, making the stock its 11th biggest holding. Global Trust Asset Management LLC's holdings in Visa were worth $3,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Lakeridge Wealth Management LLC increased its position in shares of Visa by 5.7% during the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after acquiring an additional 81 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Visa by 14.5% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock valued at $159,523,000 after acquiring an additional 57,800 shares during the last quarter. Iron Gate Global Advisors LLC increased its position in shares of Visa by 5.9% during the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock valued at $22,040,000 after acquiring an additional 3,484 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock valued at $5,003,569,000 after purchasing an additional 955,392 shares in the last quarter. Finally, Yeomans Consulting Group Inc. grew its holdings in shares of Visa by 2.9% in the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after purchasing an additional 29 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction 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 completion of the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.13% of the company's stock.

Visa Trading Up 0.3%

NYSE V opened at $341.34 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 52 week low of $273.24 and a 52 week high of $375.51. The stock has a market capitalization of $625.61 billion, a PE ratio of 33.33, a price-to-earnings-growth ratio of 2.26 and a beta of 0.92. The firm has a 50 day moving average of $344.23 and a two-hundred day moving average of $346.51.

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

Visa Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 0.7%. Visa's dividend payout ratio is presently 23.05%.

Analyst Upgrades and Downgrades

V has been the subject of a number of research reports. Morgan Stanley lifted their price objective on shares of Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Truist Financial dropped their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Barclays restated an "overweight" rating and issued a $408.00 price objective (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Macquarie lifted their price objective on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Erste Group Bank cut shares of Visa from a "buy" rating to a "hold" rating in a report on Monday, September 22nd. One investment 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $385.96.

Visa Company 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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