Lmcg Investments LLC Sells 2,413 Shares of Visa Inc. $V

Lmcg Investments LLC lessened its holdings in Visa Inc. (NYSE:V - Free Report) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,258 shares of the credit-card processor's stock after selling 2,413 shares during the quarter. Visa accounts for approximately 1.5% of Lmcg Investments LLC's holdings, making the stock its 12th biggest holding. Lmcg Investments LLC's holdings in Visa were worth $23,525,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Keystone Global Partners LLC bought a new stake in shares of Visa in the 1st quarter worth about $26,000. von Borstel & Associates Inc. bought a new stake in shares of Visa in the 1st quarter worth about $27,000. Family Legacy Financial Solutions LLC bought a new stake in shares of Visa in the 2nd quarter worth about $28,000. Cranbrook Wealth Management LLC grew its holdings in shares of Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock worth $32,000 after purchasing an additional 41 shares during the last quarter. Finally, 1 North Wealth Services LLC bought a new stake in Visa during the 1st quarter worth about $38,000. Institutional investors own 82.15% of the company's stock.

Visa Price Performance

NYSE V opened at $348.39 on Wednesday. The business has a 50 day simple moving average of $344.01 and a 200 day simple moving average of $346.98. Visa Inc. has a 52-week low of $278.35 and a 52-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 stock has a market cap of $638.53 billion, a price-to-earnings ratio of 34.02, a PEG ratio of 2.03 and a beta of 0.90.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business's quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the business earned $2.42 EPS. Analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Insider Buying and Selling at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on V. Erste Group Bank lowered shares of Visa from a "buy" rating to a "hold" rating in a report on Monday, September 22nd. Morgan Stanley increased their price target on shares of Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Barclays reiterated an "overweight" rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Finally, Truist Financial cut their price target on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Visa has an average rating of "Moderate Buy" and a consensus target price of $389.00.

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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