Modera Wealth Management LLC Sells 2,148 Shares of Visa Inc. (NYSE:V)

Key Points

• Modera Wealth Management LLC reduced its holdings in Visa Inc. by 1.6%, selling 2,148 shares, and now owns 133,072 shares worth approximately $46.6 million.
• Visa reported earnings of $2.98 per share for the last quarter, surpassing estimates and achieving a year-over-year revenue increase of 14.3% to $10.17 billion.
• The company announced a quarterly dividend of $0.59, scheduled to be paid on September 2nd, representing an annualized dividend yield of 0.67%.

Modera Wealth Management LLC lessened its position in shares of Visa Inc. (NYSE:V - Free Report) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 133,072 shares of the credit-card processor's stock after selling 2,148 shares during the period. Modera Wealth Management LLC's holdings in Visa were worth $46,637,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. acquired a new position in shares of Visa during the first quarter worth about $27,000. Measured Risk Portfolios Inc. acquired a new position in shares of Visa during the fourth quarter worth about $47,000. O Brien Wealth Partners LLC acquired a new position in shares of Visa in the first quarter worth about $54,000. Global X Japan Co. Ltd. acquired a new position in shares of Visa in the first quarter worth about $56,000. Finally, Cedar Mountain Advisors LLC lifted its stake in shares of Visa by 28.5% in the first quarter. Cedar Mountain Advisors LLC now owns 167 shares of the credit-card processor's stock worth $59,000 after acquiring an additional 37 shares in the last quarter. Hedge funds and other 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. Jefferies Financial Group boosted their price target on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. UBS Group reiterated a "buy" rating and issued a $415.00 price target (up previously from $405.00) on shares of Visa in a research note on Wednesday. The Goldman Sachs Group initiated coverage on Visa in a research note on Monday, June 2nd. They issued a "neutral" rating on the stock. Evercore ISI initiated coverage on Visa in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research note on Thursday, July 17th. They set a "buy" rating and a $410.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Visa presently has an average rating of "Moderate Buy" and an average target price of $380.84.

Visa Stock Down 1.9%

Shares of V traded down $6.66 during mid-day trading on Friday, reaching $338.81. The company's stock had a trading volume of 8,655,366 shares, compared to its average volume of 5,746,410. The business has a fifty day moving average of $355.06 and a 200 day moving average of $346.34. The company has a market cap of $625.16 billion, a price-to-earnings ratio of 33.09, a price-to-earnings-growth ratio of 2.30 and a beta of 0.94. Visa Inc. has a 1 year low of $254.51 and a 1 year high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate 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 in the prior year, the business posted $2.42 earnings per share. As a group, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Insider Activity

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the transaction, the insider owned 26,413 shares in the company, valued at $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,913 shares of company stock valued at $32,902,432. 0.13% of the stock is owned by corporate insiders.

About Visa

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.