GLOBALT Investments LLC GA Sells 2,141 Shares of Visa Inc. (NYSE:V)

Key Points

• GLOBALT Investments LLC has reduced its holdings in Visa Inc. by 11.3%, now owning 16,824 shares worth approximately $5.9 million after selling 2,141 shares.
• Visa reported earnings of $2.76 per share for the latest quarter, exceeding analyst expectations, along with a quarterly revenue of $9.59 billion, marking a 9.3% year-over-year increase.
• Visa recently declared a quarterly dividend of $0.59 per share, resulting in a 0.66% yield and a dividend payout ratio of 23.72%.

GLOBALT Investments LLC GA reduced its position in Visa Inc. (NYSE:V - Free Report) by 11.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,824 shares of the credit-card processor's stock after selling 2,141 shares during the quarter. GLOBALT Investments LLC GA's holdings in Visa were worth $5,896,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. FWL Investment Management LLC raised its stake in shares of Visa by 0.5% during the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after purchasing an additional 29 shares in the last quarter. Yeomans Consulting Group Inc. grew its holdings in Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock worth $360,000 after acquiring an additional 29 shares during the period. Capstone Financial Advisors Inc. grew its holdings in Visa by 3.6% during the fourth quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock worth $276,000 after acquiring an additional 30 shares during the period. Headinvest LLC grew its holdings in Visa by 0.8% during the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock worth $1,265,000 after acquiring an additional 30 shares during the period. Finally, Kennebec Savings Bank grew its holdings in Visa by 0.9% during the first quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock worth $1,182,000 after acquiring an additional 30 shares during the period. 82.15% of the stock is owned by institutional investors.

Visa Stock Up 0.7%

Shares of Visa stock traded up $2.45 during trading on Wednesday, hitting $353.74. 6,212,961 shares of the stock traded hands, compared to its average volume of 6,560,002. The company has a fifty day moving average price of $355.76 and a two-hundred day moving average price of $345.83. Visa Inc. has a twelve month low of $254.51 and a twelve month high of $375.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market cap of $652.70 billion, a P/E ratio of 35.62, a PEG ratio of 2.40 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same period in the previous year, the company earned $2.42 EPS. The company's revenue for the quarter was up 14.3% on a year-over-year basis. Equities research analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.67%. Visa's dividend payout ratio (DPR) is currently 23.72%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on V. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Piper Sandler lifted their target price on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. BMO Capital Markets lifted their target price on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Visa in a research note on Thursday, July 17th. They issued a "buy" rating and a $410.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Visa presently has a consensus rating of "Moderate Buy" and a consensus target price of $377.16.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,121,041.50. The trade was a 17.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,108 shares of company stock valued at $36,771,200 in the last three months. Company insiders own 0.13% of the company's stock.

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.