Penserra Capital Management LLC Decreases Stake in Visa Inc. (NYSE:V)

Penserra Capital Management LLC lowered its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 16.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,404 shares of the credit-card processor's stock after selling 13,036 shares during the quarter. Penserra Capital Management LLC's holdings in Visa were worth $23,620,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Lakeridge Wealth Management LLC increased its position in shares of Visa by 5.7% during the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after acquiring an additional 81 shares during the period. Blue Rock Wealth Management LLC purchased a new position in shares of Visa during the fourth quarter worth approximately $306,000. Aptus Capital Advisors LLC raised its holdings in shares of Visa by 19.8% in the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock valued at $57,727,000 after acquiring an additional 30,185 shares in the last quarter. King Wealth Management Group raised its holdings in shares of Visa by 9.0% in the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock valued at $23,663,000 after acquiring an additional 6,172 shares in the last quarter. Finally, Eagle Strategies LLC raised its holdings in shares of Visa by 2.5% in the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock valued at $811,000 after acquiring an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Stock Performance

NYSE:V traded down $2.21 during midday trading on Tuesday, hitting $354.43. The company's stock had a trading volume of 6,964,540 shares, compared to its average volume of 6,844,099. The firm has a market cap of $653.98 billion, a P/E ratio of 35.62, a P/E/G ratio of 2.43 and a beta of 0.92. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The firm's 50 day moving average is $356.17 and its 200-day moving average is $341.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. The business had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business's revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company earned $2.51 EPS. Equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa's payout ratio is 23.72%.

Wall Street Analyst Weigh In

V has been the subject of several recent research reports. Susquehanna restated a "positive" rating on shares of Visa in a report on Friday, March 21st. William Blair restated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Oppenheimer lifted 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. BMO Capital Markets lifted their price objective on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Finally, Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Five 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 stock. Based on data from MarketBeat.com, Visa presently has a consensus rating of "Moderate Buy" and a consensus target price of $372.84.

Insider Activity

In other news, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the transaction, the insider owned 26,413 shares in the company, valued at $9,772,810. This trade represents a 63.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on 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 in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,108 shares of company stock worth $36,771,200 in the last quarter. 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.