Professional Advisory Services Inc. Decreases Stock Holdings in Visa Inc. $V

Key Points

• Professional Advisory Services Inc. reduced its stake in Visa Inc. by 1.6%, selling 855 shares and holding a total of 54,305 shares worth approximately $19.28 million.
• Visa's recent earnings report showed an EPS of $2.98, surpassing estimates, with revenue reaching $10.17 billion, a 14.3% year-over-year increase.
• Institutional investors currently own 82.15% of Visa's stock, highlighting significant institutional confidence in the company.

Professional Advisory Services Inc. trimmed its position in Visa Inc. (NYSE:V - Free Report) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,305 shares of the credit-card processor's stock after selling 855 shares during the quarter. Visa makes up 2.6% of Professional Advisory Services Inc.'s investment portfolio, making the stock its 25th largest position. Professional Advisory Services Inc.'s holdings in Visa were worth $19,281,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Marshall & Sullivan Inc. WA acquired a new stake in shares of Visa in the 2nd quarter valued at $89,000. Pinnacle Bancorp Inc. raised its holdings in shares of Visa by 0.4% in the 2nd quarter. Pinnacle Bancorp Inc. now owns 14,236 shares of the credit-card processor's stock valued at $5,054,000 after purchasing an additional 56 shares in the last quarter. Global X Japan Co. Ltd. raised its stake in Visa by 139.4% during the 2nd quarter. Global X Japan Co. Ltd. now owns 383 shares of the credit-card processor's stock worth $136,000 after acquiring an additional 223 shares in the last quarter. My Legacy Advisors LLC raised its stake in Visa by 1.6% during the 2nd quarter. My Legacy Advisors LLC now owns 7,269 shares of the credit-card processor's stock worth $2,587,000 after acquiring an additional 116 shares in the last quarter. Finally, Lantz Financial LLC raised its stake in Visa by 2.1% during the 2nd quarter. Lantz Financial LLC now owns 2,640 shares of the credit-card processor's stock worth $937,000 after acquiring an additional 54 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,630 shares of the business's 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 completion of the transaction, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Erste Group Bank lowered shares of Visa from a "buy" rating to a "hold" rating in a research note on Monday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a research note on Thursday, July 17th. They set a "buy" rating and a $410.00 price target on the stock. Macquarie lifted their price target on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. UBS Group reiterated a "buy" rating and set a $415.00 price target (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Finally, Truist Financial cut 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. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $385.96.

Visa Price Performance

Shares of NYSE V traded up $2.67 during midday trading on Monday, hitting $344.28. The company had a trading volume of 5,618,726 shares, compared to its average volume of 6,470,560. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a twelve month low of $268.23 and a twelve month high of $375.51. The business has a 50-day simple moving average of $345.70 and a two-hundred day simple moving average of $346.38. The firm has a market capitalization of $630.99 billion, a price-to-earnings ratio of 33.62, a price-to-earnings-growth ratio of 2.27 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data 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. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter last year, the business earned $2.42 earnings per share. The business's revenue for the quarter was up 14.3% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa's payout ratio 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.