Semmax Financial Advisors Inc. Decreases Stake in Visa Inc. $V

Key Points

• Semmax Financial Advisors Inc. reduced its holdings in Visa Inc. by 8.2%, owning 10,952 shares valued at approximately $3.86 million after selling 972 shares in the first quarter.
• Insider trading activity included Paul D. Fabara selling 11,636 shares for $4.36 million, decreasing his position by 30.58%, while General Counsel Julie B. Rottenberg sold 2,027 shares worth around $697,000.
• Visa recently reported earnings of $2.98 EPS, surpassing analyst expectations, and announced a quarterly dividend of $0.59, resulting in an annualized yield of 0.7%.

Semmax Financial Advisors Inc. decreased its holdings in Visa Inc. (NYSE:V - Free Report) by 8.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,952 shares of the credit-card processor's stock after selling 972 shares during the quarter. Semmax Financial Advisors Inc.'s holdings in Visa were worth $3,861,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Keystone Global Partners LLC bought a new stake in Visa during the first quarter valued at $26,000. von Borstel & Associates Inc. bought a new stake in Visa during the first quarter valued at $27,000. 1 North Wealth Services LLC bought a new stake in Visa during the first quarter valued at $38,000. Measured Risk Portfolios Inc. bought a new stake in Visa during the fourth quarter valued at $47,000. Finally, O Brien Wealth Partners LLC bought a new stake in Visa during the first quarter valued at $54,000. Institutional investors own 82.15% of the company's stock.

Visa Stock Down 1.2%

Shares of V traded down $3.98 on Friday, reaching $339.51. The company's stock had a trading volume of 2,422,367 shares, compared to its average volume of 6,442,272. The company has a current ratio of 1.12, a quick 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 stock has a market capitalization of $622.25 billion, a PE ratio of 33.16, a PEG ratio of 2.25 and a beta of 0.92. The firm has a fifty day moving average of $347.41 and a 200-day moving average of $347.03.

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, topping analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the prior year, the business posted $2.42 EPS. The firm's revenue was up 14.3% compared to the same quarter last year. Equities analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a $0.59 dividend. 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 dividend payout ratio is currently 23.05%.

Analyst Ratings Changes

A number of analysts have commented on V shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 price target on the stock. Morgan Stanley increased their price objective on shares of Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. UBS Group reissued a "buy" rating and set a $415.00 price objective (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Finally, Macquarie increased their price objective on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Visa presently has an average rating of "Moderate Buy" and an average price target of $385.96.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction dated 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 sale, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction dated 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 $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Corporate 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.