Visa Inc. (NYSE:V) Shares Sold by NWK Group Inc.

Key Points

• NWK Group Inc. has reduced its stake in Visa Inc. by 2.6% to own 34,977 shares, valued at approximately $12.26 million, making it the 7th largest holding in their portfolio.
• Visa has received multiple analyst upgrades recently, with Mizuho raising its target price from $359 to $425 and a consensus rating of "Moderate Buy" across various brokerages.
• Visa reported a quarterly earnings per share (EPS) of $2.98, surpassing expectations, with revenue increasing by 14.3% year-over-year, indicating strong financial performance.

NWK Group Inc. decreased its position in shares of Visa Inc. (NYSE:V - Free Report) by 2.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,977 shares of the credit-card processor's stock after selling 916 shares during the quarter. Visa accounts for approximately 5.6% of NWK Group Inc.'s portfolio, making the stock its 7th largest holding. NWK Group Inc.'s holdings in Visa were worth $12,258,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in V. GAMMA Investing LLC lifted its holdings in Visa by 38,416.3% in the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after purchasing an additional 14,723,050 shares in the last quarter. Northern Trust Corp lifted its holdings in Visa by 18.0% in the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after purchasing an additional 2,785,707 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Visa in the 4th quarter valued at $673,689,000. Sanders Capital LLC purchased a new position in Visa in the 4th quarter valued at $623,022,000. Finally, Kovitz Investment Group Partners LLC lifted its holdings in Visa by 295.4% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,362,202 shares of the credit-card processor's stock valued at $746,550,000 after purchasing an additional 1,764,781 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on V. William Blair restated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Truist Financial decreased their price objective on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Piper Sandler raised their price objective on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Finally, Oppenheimer raised their price objective on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $380.84.

Visa Trading Up 1.4%

Shares of NYSE:V traded up $4.77 during midday trading on Friday, reaching $336.86. 6,071,880 shares of the company's stock were exchanged, compared to its average volume of 6,296,455. The firm's 50 day simple moving average is $352.79 and its two-hundred day simple moving average is $347.26. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market cap of $617.39 billion, a price-to-earnings ratio of 32.90, a P/E/G ratio of 2.25 and a beta of 0.94. Visa Inc. has a fifty-two week low of $258.74 and a fifty-two week high of $375.51.

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

Visa Announces Dividend

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

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 11,636 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the sale, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,100 shares of company stock valued at $27,643,224 over the last three months. Corporate insiders own 0.13% of the company's stock.

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.