Narwhal Capital Management Sells 2,363 Shares of Visa Inc. $V

Key Points

• Narwhal Capital Management reduced its stake in Visa by 4.5%, selling 2,363 shares, leaving it with a total of 50,246 shares valued at approximately $17.84 million.
• Visa reported earnings of $2.98 per share for the most recent quarter, exceeding analysts' expectations of $2.85, alongside a revenue of $10.17 billion.
• The company declared a quarterly dividend of $0.59, resulting in an annualized dividend yield of 0.7% and a payment ratio of 23.05%.

Narwhal Capital Management reduced its stake in shares of Visa Inc. (NYSE:V - Free Report) by 4.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,246 shares of the credit-card processor's stock after selling 2,363 shares during the quarter. Visa comprises 1.4% of Narwhal Capital Management's portfolio, making the stock its 17th biggest position. Narwhal Capital Management's holdings in Visa were worth $17,840,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Keystone Global Partners LLC acquired a new position in shares of Visa in the 1st quarter valued at approximately $26,000. von Borstel & Associates Inc. acquired a new position in shares of Visa in the 1st quarter valued at approximately $27,000. Family Legacy Financial Solutions LLC acquired a new position in shares of Visa in the 2nd quarter valued at approximately $28,000. Cranbrook Wealth Management LLC grew its position 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 valued at $32,000 after purchasing an additional 41 shares during the period. Finally, 1 North Wealth Services LLC acquired a new position in shares of Visa in the 1st quarter valued at approximately $38,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Down 1.0%

V opened at $343.63 on Friday. Visa Inc. has a 1-year low of $275.37 and a 1-year high of $375.51. The stock's fifty day simple moving average is $343.77 and its 200 day simple moving average is $346.99. 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 stock has a market cap of $629.79 billion, a PE ratio of 33.56, a price-to-earnings-growth ratio of 2.04 and a beta of 0.90.

Visa (NYSE:V - Get Free Report) last posted 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. The business had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.42 EPS. As a group, research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Oppenheimer boosted their price objective on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Erste Group Bank downgraded Visa from a "buy" rating to a "hold" rating in a research report on Monday, September 22nd. Robert W. Baird set a $410.00 price target on Visa and gave the stock an "outperform" rating in a research report on Monday, October 6th. Morgan Stanley upped their price target on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $389.00.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 10,485 shares of the firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction dated 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 sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% 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.

Visa 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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