Visa Inc. (NYSE:V) Shares Sold by Keeler Thomas Management LLC

Key Points

• Keeler Thomas Management LLC significantly reduced its stake in Visa by 77.6%, selling 12,750 shares and lowering its holdings to 3,683 shares worth approximately $1.29 million.
• CEO Ryan Mcinerney and insider Paul D. Fabara sold a combined total of 20,266 shares in June, indicating notable insider selling activity.
• Visa recently reported a 14.3% year-over-year increase in revenue to $10.17 billion and announced a quarterly dividend of $0.59 per share, scheduled for September 2nd.

Keeler Thomas Management LLC decreased its position in Visa Inc. (NYSE:V - Free Report) by 77.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,683 shares of the credit-card processor's stock after selling 12,750 shares during the period. Keeler Thomas Management LLC's holdings in Visa were worth $1,291,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. von Borstel & Associates Inc. bought a new position in shares of Visa in the 1st quarter worth $27,000. Measured Risk Portfolios Inc. bought a new position in Visa in the fourth quarter worth about $47,000. Navigoe LLC bought a new position in Visa in the fourth quarter worth about $53,000. O Brien Wealth Partners LLC purchased a new stake in shares of Visa during the first quarter valued at about $54,000. Finally, Global X Japan Co. Ltd. bought a new stake in shares of Visa in the 1st quarter valued at about $56,000. Institutional investors own 82.15% of the company's stock.

Wall Street Analyst Weigh In

V has been the topic of several recent analyst reports. UBS Group restated a "buy" rating and set a $415.00 price objective (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. The Goldman Sachs Group initiated coverage on shares of Visa in a research note on Monday, June 2nd. They set a "neutral" rating on the stock. Morgan Stanley raised their price target on shares of Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Truist Financial dropped their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Finally, Macquarie upped their target price on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $380.84.

Visa Trading Down 2.3%

NYSE:V traded down $7.76 on Thursday, reaching $331.98. The company's stock had a trading volume of 8,793,604 shares, compared to its average volume of 6,237,998. Visa Inc. has a 12-month low of $257.92 and a 12-month high of $375.51. The stock has a 50 day moving average price of $353.36 and a 200 day moving average price of $346.87. The firm has a market cap of $612.55 billion, a price-to-earnings ratio of 32.42, a price-to-earnings-growth ratio of 2.27 and a beta of 0.94. 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 (NYSE:V - Get Free Report) last announced its quarterly earnings results 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 net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. During the same period last year, the business earned $2.42 earnings per share. The business's revenue for the quarter was up 14.3% on a year-over-year basis. On average, equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders 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 of this dividend is Tuesday, August 12th. Visa's dividend payout ratio is currently 23.05%.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at $190,001.34. The trade was 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 the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares in the company, valued at approximately $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 have sold 75,100 shares of company stock worth $27,643,224 in the last three months. Corporate insiders own 0.13% of the company's stock.

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.