Point72 Europe London LLP Sells 17,200 Shares of Visa Inc. $V

Key Points

• Point72 Europe London LLP reduced its stake in Visa Inc. by 24.3%, selling 17,200 shares, which results in a holding of 53,658 shares worth approximately $18.8 million.
• Several institutional investors have increased their positions in Visa, with Brighton Jones LLC raising its stake by 50.1% and Revolve Wealth Partners LLC by 68.9% in the fourth quarter.
• Visa announced a quarterly dividend of $0.59 per share, contributing to an annualized dividend of $2.36 and a yield of 0.7%.

Point72 Europe London LLP reduced its stake in shares of Visa Inc. (NYSE:V - Free Report) by 24.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,658 shares of the credit-card processor's stock after selling 17,200 shares during the quarter. Visa makes up about 1.3% of Point72 Europe London LLP's holdings, making the stock its 25th biggest holding. Point72 Europe London LLP's holdings in Visa were worth $18,805,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Marshfield Associates increased its position in Visa by 0.7% during the 1st quarter. Marshfield Associates now owns 940,571 shares of the credit-card processor's stock valued at $329,632,000 after purchasing an additional 6,790 shares during the period. Beck Mack & Oliver LLC increased its position in Visa by 1.9% during the 1st quarter. Beck Mack & Oliver LLC now owns 14,312 shares of the credit-card processor's stock valued at $5,016,000 after purchasing an additional 272 shares during the period. Betterment LLC increased its position in Visa by 8.2% during the 1st quarter. Betterment LLC now owns 898 shares of the credit-card processor's stock valued at $315,000 after purchasing an additional 68 shares during the period. Caption Management LLC increased its position in Visa by 45.5% during the 1st quarter. Caption Management LLC now owns 32,000 shares of the credit-card processor's stock valued at $11,215,000 after purchasing an additional 10,000 shares during the period. Finally, Quarry LP purchased a new position in Visa during the 1st quarter valued at $405,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value 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 represents a 30.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,507 shares of company stock valued at $25,213,475. 0.13% of the stock is owned by corporate insiders.

Visa Stock Performance

Shares of NYSE V traded up $0.28 during midday trading on Wednesday, hitting $350.35. 4,035,731 shares of the company's stock traded hands, compared to its average volume of 6,513,681. Visa Inc. has a 1 year low of $268.23 and a 1 year high of $375.51. The stock has a market capitalization of $642.11 billion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth ratio of 2.34 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a fifty day moving average of $348.47 and a 200 day moving average of $347.36.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.42 EPS. On average, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa's dividend payout ratio is currently 23.05%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Jefferies Financial Group boosted their target price on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Barclays restated an "overweight" rating and set a $408.00 target price (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Morgan Stanley boosted their target price on shares of Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Finally, Truist Financial dropped their target price on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $383.17.

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.