Visa Inc. $V Shares Sold by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies Lllp has sold 243,975 shares of Visa Inc., reducing its stake by 60.9%, leaving them with 156,331 shares valued at approximately $54.8 million.
• Visa's stock opened at $343.02, with recent earnings showing a significant increase in revenue to $10.17 billion, surpassing expectations of $9.82 billion.
• The company declared a quarterly dividend of $0.59, reflecting an annualized payout of $2.36, with a dividend yield of 0.7% and a payout ratio of 23.05%.

Jones Financial Companies Lllp decreased its stake in shares of Visa Inc. (NYSE:V - Free Report) by 60.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 156,331 shares of the credit-card processor's stock after selling 243,975 shares during the quarter. Jones Financial Companies Lllp's holdings in Visa were worth $54,788,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Keystone Global Partners LLC purchased a new position in Visa during the first quarter worth approximately $26,000. von Borstel & Associates Inc. purchased a new position in Visa during the first quarter worth approximately $27,000. 1 North Wealth Services LLC purchased a new position in Visa during the first quarter worth approximately $38,000. Measured Risk Portfolios Inc. purchased a new position in Visa during the fourth quarter worth approximately $47,000. Finally, O Brien Wealth Partners LLC purchased a new stake in Visa in the first quarter valued at $54,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at $190,001.34. The trade was a 94.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the transaction, the insider directly owned 26,413 shares of the company's stock, valued at $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,293 shares of company stock valued at $8,114,295 in the last three months. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Barclays restated an "overweight" rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Oppenheimer lifted their target price on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Jefferies Financial Group lifted their target price on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Morgan Stanley lifted their target price on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, Citigroup assumed coverage on Visa in a research report on Monday, June 2nd. They issued a "buy" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $385.96.

Visa Trading Down 0.2%

Shares of NYSE V traded down $0.77 during trading on Monday, reaching $342.45. The stock had a trading volume of 4,708,994 shares, compared to its average volume of 5,028,936. Visa Inc. has a fifty-two week low of $268.23 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The business's 50-day moving average price is $348.26 and its 200-day moving average price is $347.15. The company has a market cap of $627.64 billion, a P/E ratio of 33.44, a PEG ratio of 2.28 and a beta of 0.92.

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 for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. During the same period in the previous year, the firm posted $2.42 earnings per share. The company's revenue was up 14.3% on a year-over-year basis. On average, equities research analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

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

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.