Jackson Wealth Management LLC Decreases Stock Position in Visa Inc. $V

Key Points

• Jackson Wealth Management cut its Visa position by 90.6% in the second quarter, selling 12,960 shares and retaining 1,339 shares valued at approximately $459,000.
• Visa insiders sold 96,634 shares worth about $34.5 million over the past 90 days, while institutional investors collectively own 82.15% of the company.
• Despite the selling, analysts maintain a positive outlook with an average “Buy” rating and a $416.62 price target. Visa also exceeded quarterly earnings and revenue expectations and declared a quarterly dividend of $0.67 per share.

Jackson Wealth Management LLC lessened its holdings in Visa Inc. (NYSE:V - Free Report) by 90.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,339 shares of the credit-card processor's stock after selling 12,960 shares during the quarter. Jackson Wealth Management LLC's holdings in Visa were worth $459,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of V. Cresta Advisors Ltd. purchased a new stake in shares of Visa during the fourth quarter valued at $26,000. Parvin Asset Management LLC raised its stake in Visa by 200.0% in the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor's stock worth $26,000 after acquiring an additional 50 shares during the last quarter. Philadelphia Investment Partners LLC acquired a new stake in Visa during the 2nd quarter worth about $29,000. Virtus Advisers LLC acquired a new stake in Visa during the 2nd quarter worth about $33,000. Finally, RHL Group LLC purchased a new stake in Visa during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Transactions at Visa

In related news, insider Tullier Kelly Mahon sold 57,272 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $364.97, for a total value of $20,902,561.84. Following the completion of the sale, the insider owned 49,662 shares of the company's stock, valued at approximately $18,125,140.14. This trade represents a 53.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total value of $729,720.00. Following the transaction, the general counsel owned 18,404 shares in the company, valued at approximately $6,625,440. The trade was a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 96,634 shares of company stock worth $34,537,016 in the last ninety days. Insiders own 0.12% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Sanford C. Bernstein restated an "outperform" rating and issued a $450.00 price objective on shares of Visa in a research note on Tuesday, June 2nd. Citigroup reiterated a "buy" rating and issued a $440.00 target price (up from $400.00) on shares of Visa in a research report on Wednesday, July 29th. Truist Financial set a $406.00 price target on shares of Visa and gave the stock a "buy" rating in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $430.00 price target on shares of Visa in a research report on Wednesday, July 29th. Finally, TD Cowen reaffirmed a "buy" rating on shares of Visa in a report on Wednesday, July 29th. Seven analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $416.62.

Visa Trading Down 0.6%

Shares of V opened at $379.17 on Tuesday. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $385.57. The stock has a market cap of $676.60 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 2.04 and a beta of 0.74. The firm's fifty day moving average is $360.10 and its two-hundred day moving average is $331.83. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.60.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.09. The firm had revenue of $11.63 billion for the quarter, compared to the consensus estimate of $11.40 billion. Visa had a net margin of 50.78% and a return on equity of 67.68%. The company's revenue for the quarter was up 14.4% on a year-over-year basis. During the same period last year, the firm posted $2.98 earnings per share. Research analysts forecast that Visa Inc. will post 13.16 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 11th. Visa's dividend payout ratio (DPR) is 22.79%.

Visa Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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