Laffer Tengler Investments Inc. Sells 1,390 Shares of Visa Inc. $V

Key Points

• Laffer Tengler Investments Inc. reduced its stake in Visa Inc. by 13.4%, selling 1,390 shares, and now holds 8,957 shares valued at approximately $3.14 million.
• Visa reported a quarterly EPS of $2.98, exceeding analysts' expectations of $2.85, with a revenue increase of 14.3% year-over-year amounting to $10.17 billion.
• Visa declared a quarterly dividend of $0.59 per share, representing an annual yield of 0.7%, with an upcoming payment date on September 2nd.

Laffer Tengler Investments Inc. decreased its position in shares of Visa Inc. (NYSE:V - Free Report) by 13.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,957 shares of the credit-card processor's stock after selling 1,390 shares during the period. Laffer Tengler Investments Inc.'s holdings in Visa were worth $3,139,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of V. Keystone Global Partners LLC bought a new position in Visa in the 1st quarter valued at $26,000. von Borstel & Associates Inc. acquired a new stake in shares of Visa in the first quarter valued at $27,000. Measured Risk Portfolios Inc. bought a new position in shares of Visa in the fourth quarter valued at about $47,000. Navigoe LLC acquired a new position in Visa during the 4th quarter worth about $53,000. Finally, O Brien Wealth Partners LLC bought a new stake in Visa during the 1st quarter worth about $54,000. Institutional investors own 82.15% of the company's stock.

Visa Stock Performance

Shares of V stock opened at $343.5530 on Friday. The stock has a market cap of $629.66 billion, a PE ratio of 33.55, a price-to-earnings-growth ratio of 2.29 and a beta of 0.94. The stock has a 50-day moving average of $347.99 and a 200-day moving average of $347.37. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a one year low of $265.31 and a one year high of $375.51.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 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 business had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter in the prior year, the company earned $2.42 EPS. The firm's quarterly revenue was up 14.3% on a year-over-year basis. As a group, sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa's dividend payout ratio is 23.05%.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction on 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 completion of the transaction, the insider owned 26,413 shares in the company, valued at approximately $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,127 shares of company stock valued at $28,340,553 in the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays reaffirmed an "overweight" rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. William Blair restated an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Jefferies Financial Group increased their price objective on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Oppenheimer upped their price target on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Visa presently has an average rating of "Moderate Buy" and an average target price of $380.84.

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.

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