Interchange Capital Partners LLC Sells 5,748 Shares of Visa Inc. $V

Key Points

• Interchange Capital Partners LLC significantly decreased its holdings in Visa Inc. by 90.1%, selling 5,748 shares and owning just 635 shares valued at approximately $225,000 after the sale.
• Insider transactions included the sale of 2,027 shares by General Counsel Julie B. Rottenberg and 10,485 shares by CEO Ryan Mcinerney, indicating notable insider selling in the company.
• Visa Inc. reported better-than-expected quarterly earnings with an EPS of $2.98, exceeding estimates, and had a revenue of $10.17 billion, a 14.3% increase year-over-year.

Interchange Capital Partners LLC lowered its position in shares of Visa Inc. (NYSE:V - Free Report) by 90.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 635 shares of the credit-card processor's stock after selling 5,748 shares during the period. Interchange Capital Partners LLC's holdings in Visa were worth $225,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in V. Keystone Global Partners LLC bought a new stake in shares of Visa during the first quarter valued at approximately $26,000. von Borstel & Associates Inc. bought a new stake in Visa in the 1st quarter worth approximately $27,000. Family Legacy Financial Solutions LLC bought a new stake in Visa in the 2nd quarter worth approximately $28,000. Cranbrook Wealth Management LLC grew its position in Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock worth $32,000 after purchasing an additional 41 shares during the period. Finally, 1 North Wealth Services LLC bought a new stake in Visa in the 1st quarter worth approximately $38,000. Institutional investors own 82.15% of the company's stock.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the business's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at approximately $183,815.10. The trade was a 95.13% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Visa Stock Up 1.9%

Shares of V stock opened at $341.90 on Friday. The stock has a market cap of $626.63 billion, a P/E ratio of 33.39, a PEG ratio of 2.02 and a beta of 0.90. Visa Inc. has a 52 week low of $280.78 and a 52 week high of $375.51. 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's fifty day simple moving average is $344.30 and its two-hundred day simple moving average is $346.83.

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 business had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business's quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.42 EPS. Analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a research report on Thursday, July 17th. They issued a "buy" rating and a $410.00 target price for the company. Truist Financial cut their target price 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. Macquarie lifted their target price on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. UBS Group reaffirmed a "buy" rating and issued a $415.00 target price (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Finally, Barclays restated an "overweight" rating and set a $408.00 target price (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $389.00.

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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