HBW Advisory Services LLC Cuts Stake in Visa Inc. $V

Key Points

• HBW Advisory Services LLC reduced its stake in Visa Inc. by 13.7% during the second quarter, owning 11,770 shares valued at approximately $4.18 million post-sale.
• Visa's Q2 earnings exceeded expectations with a reported EPS of $2.98, beating the consensus estimate by $0.13, while revenue totaled $10.17 billion, up 14.3% year-over-year.
• Visa announced a quarterly dividend of $0.59, representing an annual yield of 0.7% and a dividend payout ratio of 23.05%.

HBW Advisory Services LLC decreased its holdings in Visa Inc. (NYSE:V - Free Report) by 13.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,770 shares of the credit-card processor's stock after selling 1,873 shares during the period. HBW Advisory Services LLC's holdings in Visa were worth $4,179,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock valued at $56,452,949,000 after purchasing an additional 1,677,088 shares in the last quarter. Northern Trust Corp boosted its position in Visa by 4.0% during the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock valued at $6,654,189,000 after buying an additional 726,299 shares during the period. GAMMA Investing LLC boosted its position in Visa by 38,416.3% during the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after buying an additional 14,723,050 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Visa by 7.2% during the 1st 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 buying an additional 955,392 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Visa by 14.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,321,754 shares of the credit-card processor's stock valued at $4,210,207,000 after buying an additional 1,723,785 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Trading Down 1.2%

NYSE:V opened at $339.33 on Friday. The company has a 50-day moving average price of $347.03 and a 200-day moving average price of $346.94. Visa Inc. has a 12 month low of $268.23 and a 12 month high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a market cap of $621.92 billion, a price-to-earnings ratio of 33.14, a P/E/G ratio of 2.29 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 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 firm had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. During the same period last year, the company posted $2.42 EPS. The company's quarterly revenue was up 14.3% compared to the same quarter last year. Equities analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's dividend payout ratio (DPR) is presently 23.05%.

Analysts Set New Price Targets

V has been the subject of several analyst reports. Barclays reissued an "overweight" rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Truist Financial dropped their price target on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. The Goldman Sachs Group initiated coverage on shares of Visa in a research report on Monday, June 2nd. They set a "neutral" rating for the company. UBS Group reissued a "buy" rating and set a $415.00 price target (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Finally, Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and increased their price target for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $385.96.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction dated Tuesday, July 1st. The shares were 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 $190,001.34. This trade represents a 94.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the 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 transaction, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

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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