Puzo Michael J Decreases Stock Holdings in Visa Inc. $V

Key Points

• Puzo Michael J decreased its holdings in Visa Inc. by 40.5%, now owning 1,330 shares worth approximately $472,000.
• Several institutional investors have engaged with Visa, with Cranbrook Wealth Management increasing its holdings by 82.0% during the second quarter.
• Analysts have largely maintained a positive outlook on Visa, with many reiterating buy ratings and raising price targets, leading to an average price target of $389.00.

Puzo Michael J trimmed its holdings in Visa Inc. (NYSE:V - Free Report) by 40.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,330 shares of the credit-card processor's stock after selling 905 shares during the quarter. Puzo Michael J's holdings in Visa were worth $472,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of V. Keystone Global Partners LLC purchased a new position in Visa in the 1st quarter worth approximately $26,000. von Borstel & Associates Inc. purchased a new position in Visa in the 1st quarter worth approximately $27,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Visa during the 2nd quarter worth approximately $28,000. Cranbrook Wealth Management LLC increased its holdings in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock worth $32,000 after buying an additional 41 shares during the last quarter. Finally, 1 North Wealth Services LLC acquired a new stake in shares of Visa during the 1st quarter worth approximately $38,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. UBS Group restated a "buy" rating and set a $415.00 price target (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Barclays restated an "overweight" rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Macquarie raised their price target on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Weiss Ratings restated a "buy (b)" rating on shares of Visa in a report on Wednesday. Finally, Truist Financial cut their price target on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Visa presently has an average rating of "Moderate Buy" and an average price target of $389.00.

Visa Stock Down 1.0%

Visa stock opened at $343.63 on Friday. Visa Inc. has a fifty-two week low of $275.37 and a fifty-two week high of $375.51. 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 50 day moving average price of $343.77 and a 200 day moving average price of $346.99. The company has a market capitalization of $629.79 billion, a PE ratio of 33.56, a price-to-earnings-growth ratio of 2.04 and a beta of 0.90.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share 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 the consensus estimate of $9.82 billion. During the same quarter last year, the firm earned $2.42 EPS. The firm's revenue for the quarter was up 14.3% on a year-over-year basis. Research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the business's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 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 transaction, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This trade 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.

Visa Company 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.

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