Segment Wealth Management LLC Sells 1,002 Shares of Visa Inc. $V

Key Points

• Segment Wealth Management LLC reduced its stake in Visa Inc. by 1.5%, selling 1,002 shares during the second quarter, and now holds a total of 64,831 shares valued at approximately $23 million.
• Visa reported earnings of $2.98 per share for the quarter, exceeding analysts' expectations of $2.85, with a revenue of $10.17 billion, representing a 14.3% increase year-over-year.
• The company's recent dividend was set at $0.59 per share, with an annualized rate of $2.36 and a yield of 0.7%, reflecting a payout ratio of 23.05%.

Segment Wealth Management LLC lowered its position in shares of Visa Inc. (NYSE:V - Free Report) by 1.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,831 shares of the credit-card processor's stock after selling 1,002 shares during the quarter. Visa accounts for 1.5% of Segment Wealth Management LLC's holdings, making the stock its 11th biggest position. Segment Wealth Management LLC's holdings in Visa were worth $23,018,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Keystone Global Partners LLC bought a new position in Visa in the first quarter valued at $26,000. von Borstel & Associates Inc. acquired a new position in shares of Visa during the 1st quarter worth about $27,000. Family Legacy Financial Solutions LLC acquired a new position in shares of Visa during the 2nd quarter worth about $28,000. Cranbrook Wealth Management LLC grew its holdings in shares of Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock valued at $32,000 after acquiring an additional 41 shares in the last quarter. Finally, 1 North Wealth Services LLC acquired a new stake in shares of Visa in the first quarter valued at about $38,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

NYSE:V opened at $349.21 on Tuesday. Visa Inc. has a one year low of $273.24 and a one year high of $375.51. The company has a market cap of $640.03 billion, a P/E ratio of 34.10, a P/E/G ratio of 2.07 and a beta of 0.90. The firm's fifty day moving average price is $343.65 and its two-hundred day moving average price is $346.89. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12.

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 (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 analysts' expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa's quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.42 EPS. Equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were 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 was Tuesday, August 12th. Visa's payout ratio is currently 23.05%.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Raymond James Financial restated an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Macquarie boosted their target price on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. UBS Group reaffirmed a "buy" rating and set a $415.00 price target (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Morgan Stanley lifted their price objective 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. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Visa in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Visa currently has a consensus rating of "Moderate Buy" and an average price target of $389.00.

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.

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