Visa Inc. $V Shares Sold by HF Advisory Group LLC

Key Points

• HF Advisory Group LLC has reduced its holdings in Visa Inc. by 9.6% in the second quarter, now owning about $3.55 million worth of the stock, which constitutes 1.4% of their total holdings.
• Visa's recent quarterly earnings exceeded analysts' expectations, reporting $2.98 EPS and $10.17 billion in revenue, reflecting a year-over-year revenue increase of 14.3%.
• The company declared a quarterly dividend of $0.59, yielding approximately 0.7% annually, with a dividend payout ratio of 23.05% as of the latest filing.

HF Advisory Group LLC decreased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 9.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,986 shares of the credit-card processor's stock after selling 1,055 shares during the quarter. Visa comprises 1.4% of HF Advisory Group LLC's holdings, making the stock its 17th largest holding. HF Advisory Group LLC's holdings in Visa were worth $3,545,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of Visa by 38,416.3% in the first 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 in the last quarter. Nuveen LLC acquired a new position in Visa during the 1st quarter worth $3,518,533,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Visa during the 4th quarter worth $673,689,000. Vanguard Group Inc. grew its stake in Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock worth $56,452,949,000 after purchasing an additional 1,677,088 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor's stock worth $3,847,953,000 after purchasing an additional 1,651,954 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Wall Street Analysts Forecast Growth

V has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a report on Thursday, July 17th. They set a "buy" rating and a $410.00 price target for the company. Barclays reissued an "overweight" rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Truist Financial reduced their target price on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Morgan Stanley boosted their target price on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Finally, Citigroup assumed coverage on Visa in a report on Monday, June 2nd. They issued a "buy" rating for the company. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $385.96.

Visa Stock Performance

NYSE V traded up $3.89 on Friday, hitting $342.07. 13,657,860 shares of the company's stock were exchanged, compared to its average volume of 4,986,314. 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 firm's 50-day moving average price is $345.70 and its two-hundred day moving average price is $346.41. Visa Inc. has a fifty-two week low of $268.23 and a fifty-two week high of $375.51. The firm has a market cap of $626.94 billion, a price-to-earnings ratio of 33.41, a P/E/G ratio of 2.25 and a beta of 0.92.

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. The business had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company's revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.42 EPS. On average, research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors 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 dividend on an annualized basis and a dividend yield of 0.7%. Visa's dividend payout ratio is currently 23.05%.

Insider Buying and Selling

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the company's 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 sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.

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.