International Assets Investment Management LLC Lowers Stock Holdings in Visa Inc. $V

Key Points

• International Assets Investment Management LLC reduced its stake in Visa Inc. by 2.0% in the second quarter, now holding 36,747 shares valued at approximately $13 million.
• Visa reported earnings per share (EPS) of $2.98 for the last quarter, surpassing analysts' expectations, with revenues totaling $10.17 billion.
• The company declared a dividend of $0.59 per share for the quarter, representing a 0.7% dividend yield and a payout ratio of 23.05%.

International Assets Investment Management LLC lowered its stake in shares of Visa Inc. (NYSE:V - Free Report) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,747 shares of the credit-card processor's stock after selling 743 shares during the quarter. Visa comprises about 0.7% of International Assets Investment Management LLC's holdings, making the stock its 20th largest position. International Assets Investment Management LLC's holdings in Visa were worth $13,047,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Keystone Global Partners LLC purchased a new position in shares of Visa during the first quarter worth about $26,000. Family Legacy Financial Solutions LLC purchased a new position in shares of Visa during the second quarter worth about $28,000. von Borstel & Associates Inc. purchased a new position in shares of Visa during the first quarter worth about $27,000. Harbor Asset Planning Inc. purchased a new position in shares of Visa during the second quarter worth about $29,000. Finally, Cranbrook Wealth Management LLC grew its holdings in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock worth $32,000 after buying an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Price Performance

Shares of NYSE:V opened at $347.17 on Wednesday. The company has a 50-day moving average price of $344.68 and a 200 day moving average price of $347.11. 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 has a market cap of $636.29 billion, a P/E ratio of 33.90, a PEG ratio of 2.04 and a beta of 0.90.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company 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 firm earned $2.42 EPS. The company's revenue for the quarter was up 14.3% on a year-over-year basis. Research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. 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 dividend payout ratio (DPR) is presently 23.05%.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa 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 sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

V has been the subject of a number of recent analyst reports. UBS Group restated a "buy" rating and issued a $415.00 price objective (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Truist Financial reduced their price objective 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. Robert W. Baird set a $410.00 price objective on shares of Visa and gave the company an "outperform" rating in a research report on Monday, October 6th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Visa in a research report on Thursday, July 17th. They issued a "buy" rating and a $410.00 price objective for the company. Finally, Wells Fargo & Company set a $412.00 price objective on shares of Visa and gave the company an "overweight" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $389.74.

Visa 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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