Solidarity Wealth LLC Lowers Stock Position in Visa Inc. (NYSE:V)

Key Points

• Solidarity Wealth LLC reduced its stake in Visa Inc. by 3.6%, selling 1,740 shares and now holding 46,562 shares, which are valued at $16.3 million.
• CEO Ryan Mcinerney sold 8,630 shares of Visa stock for over $3 million, representing a dramatic 94.14% decrease in his holdings.
• Visa's quarterly earnings exceeded expectations with $2.76 EPS and revenue of $9.59 billion, marking a year-over-year revenue increase of 9.3%.

Solidarity Wealth LLC lowered its holdings in Visa Inc. (NYSE:V - Free Report) by 3.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,562 shares of the credit-card processor's stock after selling 1,740 shares during the period. Visa makes up about 4.0% of Solidarity Wealth LLC's portfolio, making the stock its 8th largest holding. Solidarity Wealth LLC's holdings in Visa were worth $16,318,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of V. GAMMA Investing LLC lifted its holdings in shares of Visa by 38,416.3% during the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock worth $5,173,271,000 after acquiring an additional 14,723,050 shares during the period. Northern Trust Corp lifted its position in shares of Visa by 18.0% during the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock worth $5,771,116,000 after buying an additional 2,785,707 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Visa during the 4th quarter worth $673,689,000. Sanders Capital LLC bought a new position in Visa in the fourth quarter valued at about $623,022,000. Finally, Kovitz Investment Group Partners LLC raised its stake in shares of Visa by 295.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,362,202 shares of the credit-card processor's stock valued at $746,550,000 after acquiring an additional 1,764,781 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Visa Trading Down 0.6%

Shares of Visa stock traded down $1.93 during trading on Thursday, reaching $348.98. 4,002,854 shares of the stock were exchanged, compared to its average volume of 6,584,005. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The stock's fifty day moving average is $355.61 and its 200 day moving average is $345.86. The firm has a market cap of $643.92 billion, a price-to-earnings ratio of 34.14, a price-to-earnings-growth ratio of 2.37 and a beta of 0.92. Visa Inc. has a 1 year low of $254.51 and a 1 year high of $375.51.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. Visa had a return on equity of 59.03% and a net margin of 52.16%. The company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same quarter last year, the firm posted $2.42 earnings per share. The firm's revenue was up 14.3% on a year-over-year basis. As a group, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. Visa's dividend payout ratio (DPR) is currently 23.05%.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. The trade was a 94.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,772,810. This represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,913 shares of company stock valued at $32,902,432 over the last quarter. Company insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on V shares. William Blair reissued an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Barclays reissued an "overweight" rating and issued a $408.00 price objective on shares of Visa in a research report on Thursday. Evercore ISI initiated coverage on Visa in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price objective for the company. Oppenheimer lifted their price objective on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Morgan Stanley boosted their price target on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Visa currently has an average rating of "Moderate Buy" and a consensus target price of $379.04.

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.