Investidor Profissional Gestao de Recursos Ltda. Sells 2,835 Shares of Visa Inc. (NYSE:V)

Key Points

• Investidor Profissional Gestao de Recursos Ltda. reduced its Visa holdings by 2,835 shares, bringing its total ownership to 27,758 shares, which now represent 6.2% of its investment portfolio.
• Visa reported a net margin of 52.16% and revenue of $10.17 billion last quarter, exceeding consensus estimates, and earnings per share (EPS) were $2.98, beating the expected $2.85.
• The company announced a quarterly dividend of $0.59 per share, with an ex-dividend date of August 12th, representing a dividend yield of 0.7%.

Investidor Profissional Gestao de Recursos Ltda. trimmed its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 9.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,758 shares of the credit-card processor's stock after selling 2,835 shares during the quarter. Visa accounts for about 6.2% of Investidor Profissional Gestao de Recursos Ltda.'s investment portfolio, making the stock its 4th biggest position. Investidor Profissional Gestao de Recursos Ltda.'s holdings in Visa were worth $9,728,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Lakeridge Wealth Management LLC lifted its holdings 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 last quarter. Blue Rock Wealth Management LLC acquired a new stake in shares of Visa during the 4th quarter valued at approximately $306,000. Aptus Capital Advisors LLC lifted its stake in Visa by 19.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock worth $57,727,000 after purchasing an additional 30,185 shares during the last quarter. Eagle Strategies LLC boosted its holdings in Visa by 2.5% in the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock worth $811,000 after purchasing an additional 63 shares during the period. Finally, Rafferty Asset Management LLC boosted its holdings in Visa by 7.7% in the fourth quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor's stock worth $192,948,000 after purchasing an additional 43,546 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on V. Evercore ISI assumed coverage on Visa in a report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price target on the stock. Morgan Stanley raised their target price on shares of Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. UBS Group reiterated a "buy" rating and issued a $415.00 price objective (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Jefferies Financial Group increased their price target on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Finally, The Goldman Sachs Group started coverage on Visa in a research note on Monday, June 2nd. They issued a "neutral" rating on the stock. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $380.84.

Visa Price Performance

NYSE V opened at $342.12 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 12-month low of $254.51 and a 12-month high of $375.51. The firm's 50 day moving average is $354.82 and its 200-day moving average is $346.91. The company has a market capitalization of $631.27 billion, a PE ratio of 33.41, a price-to-earnings-growth ratio of 2.26 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating 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 company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same quarter last year, the firm posted $2.42 EPS. The business's revenue for the quarter was up 14.3% on a year-over-year basis. Equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, August 12th. Visa's payout ratio is 23.05%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 46,214 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the transaction, the insider owned 26,413 shares in the company, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,913 shares of company stock valued at $32,902,432 in the last 90 days. Company 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.

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