Visa Inc. $V Shares Sold by Quadcap Wealth Management LLC

Key Points

• Quadcap Wealth Management LLC reduced its stake in Visa Inc. by 5.7%, selling 824 shares during the first quarter, bringing their total holdings to 13,659 shares valued at approximately $4.79 million.
• Research analysts have increased their price targets for Visa, with Barclays setting a new target of $408.00 and Mizuho upgrading their target to $425.00, indicating strong confidence in the stock.
• Visa recently declared a quarterly dividend of $0.59 per share, which will be paid on September 2nd, representing an annualized yield of 0.7% and a payout ratio of 23.05%.

Quadcap Wealth Management LLC lowered its stake in Visa Inc. (NYSE:V - Free Report) by 5.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,659 shares of the credit-card processor's stock after selling 824 shares during the quarter. Visa comprises approximately 0.7% of Quadcap Wealth Management LLC's holdings, making the stock its 29th largest holding. Quadcap Wealth Management LLC's holdings in Visa were worth $4,787,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Samalin Investment Counsel LLC lifted its stake in Visa by 6.9% in the 1st quarter. Samalin Investment Counsel LLC now owns 3,041 shares of the credit-card processor's stock worth $1,066,000 after purchasing an additional 195 shares in the last quarter. FORA Capital LLC purchased a new stake in Visa in the 1st quarter worth $8,122,000. PKS Advisory Services LLC lifted its stake in Visa by 8.5% in the 1st quarter. PKS Advisory Services LLC now owns 2,963 shares of the credit-card processor's stock worth $1,038,000 after purchasing an additional 231 shares in the last quarter. J. Stern & Co. LLP lifted its stake in Visa by 3.9% in the 1st quarter. J. Stern & Co. LLP now owns 13,468 shares of the credit-card processor's stock worth $4,720,000 after purchasing an additional 511 shares in the last quarter. Finally, Widmann Financial Services Inc. purchased a new stake in Visa in the 1st quarter worth $214,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Wall Street Analyst Weigh In

V has been the topic of several recent research reports. Truist Financial decreased their target price on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Morgan Stanley upped their target price on shares of Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Barclays restated an "overweight" rating and set a $408.00 target price (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Piper Sandler upped their target price on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Finally, Citigroup initiated coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, Visa presently has a consensus rating of "Moderate Buy" and a consensus price target of $380.84.

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the 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 sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the transaction, the insider owned 26,413 shares in the company, valued at $9,904,875. The trade was a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,127 shares of company stock valued at $28,340,553 over the last 90 days. Insiders own 0.13% of the company's stock.

Visa Trading Down 0.1%

V traded down $0.25 during trading on Thursday, hitting $350.10. 4,987,056 shares of the stock were exchanged, compared to its average volume of 6,288,815. The firm has a 50 day simple moving average of $347.87 and a 200 day simple moving average of $347.44. The firm has a market cap of $641.65 billion, a price-to-earnings ratio of 34.19, a P/E/G ratio of 2.33 and a beta of 0.94. Visa Inc. has a 1 year low of $268.23 and a 1 year 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.

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 the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa's quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the business posted $2.42 EPS. As a group, equities analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa's dividend 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.