Iams Wealth Management LLC Sells 1,171 Shares of Visa Inc. $V

Key Points

• Iams Wealth Management LLC significantly reduced its stake in Visa Inc. by 66.0% during the second quarter, selling 1,171 shares and retaining only 603 shares valued at approximately $214,000.
• Major institutional investors have actively altered their positions in Visa, with GAMMA Investing LLC increasing its stake by over 38,000%, now holding nearly 14.8 million shares valued at over $5.17 billion.
• Barclays and Macquarie have set new target prices for Visa at $408.00 and $425.00 respectively, reflecting a positive outlook on the stock, which currently enjoys an average rating of "Moderate Buy."

Iams Wealth Management LLC lowered its position in shares of Visa Inc. (NYSE:V - Free Report) by 66.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 603 shares of the credit-card processor's stock after selling 1,171 shares during the period. Iams Wealth Management LLC's holdings in Visa were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake 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 worth $5,173,271,000 after acquiring an additional 14,723,050 shares during the period. Nuveen LLC bought a new position in Visa during the 1st quarter worth $3,518,533,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Visa during the 4th quarter worth $673,689,000. Vanguard Group Inc. increased 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 acquiring an additional 1,677,088 shares during the period. Finally, Wellington Management Group LLP increased 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 acquiring an additional 1,651,954 shares during the period. Institutional investors own 82.15% of the company's stock.

Analysts Set New Price Targets

V has been the topic of a number of research analyst reports. Barclays reaffirmed an "overweight" rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a report on Thursday, July 17th. They issued a "buy" rating and a $410.00 target price on the stock. Macquarie raised their target price on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Jefferies Financial Group raised their target price on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Finally, Oppenheimer raised their price objective on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $385.96.

Visa Stock Up 0.8%

Visa stock opened at $344.28 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 52-week low of $268.23 and a 52-week high of $375.51. The firm has a 50 day moving average price of $345.58 and a two-hundred day moving average price of $346.37. The firm has a market cap of $630.99 billion, a price-to-earnings ratio of 33.62, a PEG ratio of 2.27 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 (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 analyst estimates of $9.82 billion. During the same quarter last year, the business earned $2.42 EPS. The company's 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 company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued 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 (DPR) is presently 23.05%.

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa 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 sale, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

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.

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