Greenleaf Trust Sells 331,640 Shares of Visa Inc. $V

Key Points

• Greenleaf Trust sold 331,640 shares of Visa Inc., reducing its holdings by 58.9%, leaving it with 231,575 shares valued at approximately $82.2 million.
• Visa's latest quarterly earnings showed an EPS of $2.98, surpassing estimates and reflecting a 14.3% year-over-year revenue increase to $10.17 billion.
• Multiple analysts remain positive on Visa, with recent price target increases leading to an average target of $385.96 and a rating of "Moderate Buy."

Greenleaf Trust decreased its position in Visa Inc. (NYSE:V - Free Report) by 58.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 231,575 shares of the credit-card processor's stock after selling 331,640 shares during the period. Visa comprises approximately 0.7% of Greenleaf Trust's portfolio, making the stock its 9th biggest holding. Greenleaf Trust's holdings in Visa were worth $82,221,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Nuveen LLC purchased a new stake in shares of Visa in the first quarter valued at $3,518,533,000. Vanguard Group Inc. lifted its position in shares of Visa by 1.1% in the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock valued at $56,452,949,000 after acquiring an additional 1,677,088 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Visa by 17.7% in the first quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor's stock valued at $3,847,953,000 after acquiring an additional 1,651,954 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of Visa in the first quarter valued at $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position 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 acquiring an additional 955,392 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Stock Performance

Shares of NYSE:V opened at $345.97 on Friday. The firm has a market capitalization of $634.09 billion, a PE ratio of 33.79, a P/E/G ratio of 2.06 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The business has a 50-day moving average of $343.92 and a two-hundred day moving average of $346.60. Visa Inc. has a 12 month low of $273.24 and a 12 month high of $375.51.

Visa (NYSE:V - Get Free Report) last announced 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. The company 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%.The firm's revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.42 earnings per share. As a group, research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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

Insider Activity

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the company's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares of the company's stock, valued at $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on V. Morgan Stanley upped their price objective on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Raymond James Financial restated an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Barclays restated an "overweight" rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. UBS Group reiterated a "buy" rating and set a $415.00 target price (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Finally, Macquarie increased their target price on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Visa currently has an average rating of "Moderate Buy" and an average price target 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.

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.