Polen Capital Management LLC Sells 555,023 Shares of Visa Inc. (NYSE:V)

Key Points

• Polen Capital Management LLC has reduced its stake in Visa Inc. by 8.4%, selling 555,023 shares, while still holding 6,023,710 shares valued at approximately $2.1 billion, making Visa its third-largest position.
• Insider transactions show significant sales, including CEO Ryan Mcinerney selling 8,630 shares, leading to a 94.14% decrease in his ownership, and a total of 75,100 shares sold by insiders over the last ninety days.
• Visa has received positive ratings from multiple analysts, with projected growth and a consensus price target of $380.84, as well as a recent quarterly dividend announcement of $0.59 per share scheduled for September 2nd.

Polen Capital Management LLC lessened its stake in Visa Inc. (NYSE:V - Free Report) by 8.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,023,710 shares of the credit-card processor's stock after selling 555,023 shares during the quarter. Visa accounts for about 6.6% of Polen Capital Management LLC's holdings, making the stock its 3rd biggest position. Polen Capital Management LLC owned approximately 0.32% of Visa worth $2,111,069,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. FWL Investment Management LLC increased its stake in Visa by 0.5% in the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after buying an additional 29 shares during the period. Yeomans Consulting Group Inc. increased its stake in shares of Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock worth $360,000 after purchasing an additional 29 shares during the last quarter. Semus Wealth Partners LLC increased its stake in shares of Visa by 0.8% during the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock worth $1,209,000 after purchasing an additional 29 shares during the last quarter. Capstone Financial Advisors Inc. increased its stake in shares of Visa by 3.6% during the 4th quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock worth $276,000 after purchasing an additional 30 shares during the last quarter. Finally, Headinvest LLC increased its stake in shares of Visa by 0.8% during the 4th quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock worth $1,265,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction 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 trade represents a 94.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the transaction, the insider directly owned 26,413 shares of the company's stock, valued at $9,772,810. This represents a 63.63% 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 ninety days. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

V has been the topic of several analyst reports. William Blair restated an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Barclays restated an "overweight" rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Truist Financial dropped their price target on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Citigroup started coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "buy" rating on the stock. Finally, UBS Group reiterated a "buy" rating and issued a $415.00 target price (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Visa currently has an average rating of "Moderate Buy" and a consensus price target of $380.84.

Visa Stock Performance

NYSE V opened at $336.86 on Friday. 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 firm has a market capitalization of $621.56 billion, a price-to-earnings ratio of 32.90, a P/E/G ratio of 2.21 and a beta of 0.94. The company's fifty day moving average is $352.79 and its two-hundred day moving average is $346.96. Visa Inc. has a 52-week low of $258.74 and a 52-week high of $375.51.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion during 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 firm's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the firm earned $2.42 EPS. Equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be issued 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%.

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.

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