Visa Inc. $V Shares Sold by Silvant Capital Management LLC

Key Points

• Silvant Capital Management LLC reduced its holdings in Visa Inc. by 10.3% in the first quarter, selling 24,809 shares, and now owns approximately 3.5% of the company’s stock.
• Following the earnings announcement, Visa reported $2.98 earnings per share, exceeding expectations, and showed a revenue growth of 14.3% year-over-year.
• Visa recently declared a quarterly dividend of $0.59 per share, with the dividend yield currently at 0.7% and a payout ratio of 23.05%.

Silvant Capital Management LLC lessened its holdings in Visa Inc. (NYSE:V - Free Report) by 10.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 215,278 shares of the credit-card processor's stock after selling 24,809 shares during the period. Visa comprises 3.5% of Silvant Capital Management LLC's holdings, making the stock its 8th biggest position. Silvant Capital Management LLC's holdings in Visa were worth $75,446,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Guggenheim Capital LLC lifted its position in shares of Visa by 3.7% in the 1st quarter. Guggenheim Capital LLC now owns 272,472 shares of the credit-card processor's stock worth $95,491,000 after purchasing an additional 9,838 shares during the period. RB Capital Management LLC lifted its position in shares of Visa by 1.0% in the 1st quarter. RB Capital Management LLC now owns 26,575 shares of the credit-card processor's stock worth $9,314,000 after purchasing an additional 262 shares during the period. CreativeOne Wealth LLC lifted its position in shares of Visa by 13.6% in the 1st quarter. CreativeOne Wealth LLC now owns 22,953 shares of the credit-card processor's stock worth $8,044,000 after purchasing an additional 2,745 shares during the period. Ieq Capital LLC lifted its position in shares of Visa by 7.7% in the 1st quarter. Ieq Capital LLC now owns 192,878 shares of the credit-card processor's stock worth $67,596,000 after purchasing an additional 13,777 shares during the period. Finally, Warwick Investment Management Inc. lifted its position in shares of Visa by 46.3% in the 1st quarter. Warwick Investment Management Inc. now owns 1,444 shares of the credit-card processor's stock worth $506,000 after purchasing an additional 457 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Price Performance

V traded down $0.25 during midday trading on Thursday, hitting $350.10. 4,987,056 shares of the company traded hands, compared to its average volume of 6,288,815. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $641.65 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 2.33 and a beta of 0.94. Visa Inc. has a 52-week low of $268.23 and a 52-week high of $375.51. The business has a 50 day simple moving average of $348.07 and a two-hundred day simple moving average of $347.44.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company's revenue was up 14.3% compared to the same quarter last year. During the same period last year, the firm posted $2.42 earnings per share. On average, equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal 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 paid 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 (DPR) is currently 23.05%.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel directly 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,127 shares of company stock valued at $28,340,553. Corporate insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Barclays reaffirmed an "overweight" rating and issued a $408.00 price target (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Truist Financial decreased their target price on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Piper Sandler increased 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. Morgan Stanley increased 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. Finally, Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and increased their target price for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $380.84.

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.