Martingale Asset Management L P Trims Stock Holdings in Visa Inc. $V

Key Points

• Martingale Asset Management L P reduced its stake in Visa Inc. by 8.4%, now owning 125,781 shares worth approximately $44 million.
• Several hedge funds have recently established new positions in Visa, with institutional investors owning about 82.15% of the company's stock.
• Visa reported a quarterly earnings per share of $2.98, exceeding estimates, and announced a quarterly dividend of $0.59 per share to be paid on September 2nd.

Martingale Asset Management L P lowered its stake in Visa Inc. (NYSE:V - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,781 shares of the credit-card processor's stock after selling 11,592 shares during the period. Visa makes up approximately 1.1% of Martingale Asset Management L P's investment portfolio, making the stock its 7th biggest position. Martingale Asset Management L P's holdings in Visa were worth $44,081,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in V. Keystone Global Partners LLC purchased a new position in shares of Visa during the first quarter valued at approximately $26,000. von Borstel & Associates Inc. purchased a new position in Visa during the 1st quarter valued at $27,000. Measured Risk Portfolios Inc. bought a new position in Visa in the 4th quarter valued at $47,000. Navigoe LLC bought a new stake in shares of Visa during the fourth quarter worth $53,000. Finally, O Brien Wealth Partners LLC purchased a new stake in shares of Visa in the first quarter valued at approximately $54,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Analyst Upgrades and Downgrades

V has been the subject of several recent research reports. Raymond James Financial restated an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Oppenheimer upped their target price on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Piper Sandler increased their target price on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Finally, Truist Financial dropped their price objective on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. One 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. According to data from MarketBeat, Visa has a consensus rating of "Moderate Buy" and a consensus target price of $380.84.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company'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 sale, the general counsel directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction dated 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 transaction, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,127 shares of company stock valued at $28,340,553. 0.13% of the stock is owned by insiders.

Visa Stock Performance

Shares of V opened at $343.99 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market cap of $630.46 billion, a PE ratio of 33.59, a P/E/G ratio of 2.28 and a beta of 0.94. Visa Inc. has a 12 month low of $265.31 and a 12 month high of $375.51. The stock has a fifty day moving average price of $348.54 and a 200-day moving average price of $347.39.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same period last year, the firm posted $2.42 EPS. Visa's revenue was up 14.3% on a year-over-year basis. Equities research analysts predict that Visa Inc. will post 11.3 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 2nd. Investors of record on Tuesday, August 12th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa's payout ratio is currently 23.05%.

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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