Infusive Asset Management Inc. Sells 7,135 Shares of Visa Inc. $V

Key Points

• Infusive Asset Management Inc. reduced its stake in Visa Inc. by 25.6%, selling 7,135 shares, which leaves them with 20,696 shares valued at approximately $7.25 million.
• Multiple institutional investors increased their holdings in Visa during the same period, with Lakeridge Wealth Management raising its stake by 5.7% and Fjarde AP Fonden increasing theirs by 14.5%.
• Analysts have upgraded Visa's ratings, with Mizuho raising its price target to $425 and noting an overall average rating of "Moderate Buy" and an average target price of $385.96 for the stock.

Infusive Asset Management Inc. lessened its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 25.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,696 shares of the credit-card processor's stock after selling 7,135 shares during the quarter. Visa accounts for approximately 3.3% of Infusive Asset Management Inc.'s holdings, making the stock its 9th largest holding. Infusive Asset Management Inc.'s holdings in Visa were worth $7,253,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Lakeridge Wealth Management LLC raised its stake in Visa by 5.7% during the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after buying an additional 81 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Visa by 14.5% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock valued at $159,523,000 after purchasing an additional 57,800 shares during the period. Rafferty Asset Management LLC raised its stake in shares of Visa by 7.7% in the 4th quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor's stock valued at $192,948,000 after purchasing an additional 43,546 shares during the period. FJ Capital Management LLC acquired a new stake in shares of Visa in the 4th quarter valued at about $283,000. Finally, Yeomans Consulting Group Inc. raised its stake in shares of Visa by 2.9% in the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after purchasing an additional 29 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on V. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. UBS Group restated a "buy" rating and issued a $415.00 price objective (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. The Goldman Sachs Group initiated coverage on Visa in a report on Monday, June 2nd. They issued a "neutral" rating for the company. Finally, Citigroup initiated coverage on Visa in a report on Monday, June 2nd. They set a "buy" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, Visa currently has an average rating of "Moderate Buy" and an average target price of $385.96.

Insider Activity

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were 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 directly owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer owned 537 shares of the company's stock, 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. Over the last ninety days, insiders sold 22,293 shares of company stock worth $8,114,295. Corporate insiders own 0.13% of the company's stock.

Visa Trading Down 0.2%

Shares of V stock opened at $350.23 on Friday. The firm has a 50 day moving average price of $348.63 and a two-hundred day moving average price of $347.36. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $641.89 billion, a PE ratio of 34.20, a price-to-earnings-growth ratio of 2.34 and a beta of 0.92. Visa Inc. has a 12-month low of $268.23 and a 12-month high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $9.82 billion. During the same period last year, the business posted $2.42 earnings per share. The business's revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

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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