Stonehage Fleming Financial Services Holdings Ltd Sells 2,015 Shares of Visa Inc. $V

Key Points

• Stonehage Fleming Financial Services Holdings Ltd reduced its holdings in Visa Inc. by 0.4%, now owning 506,341 shares valued at approximately $179.8 million.
• Visa's recent quarterly earnings reported an EPS of $2.98, surpassing analysts' estimates and achieving a revenue of $10.17 billion, marking a 14.3% increase year-over-year.
• CEO Ryan Mcinerney sold 10,485 shares at an average price of $342.30, significantly reducing his stake in the company by 95.13%.

Stonehage Fleming Financial Services Holdings Ltd reduced its holdings in Visa Inc. (NYSE:V - Free Report) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 506,341 shares of the credit-card processor's stock after selling 2,015 shares during the quarter. Visa comprises 5.2% of Stonehage Fleming Financial Services Holdings Ltd's portfolio, making the stock its 9th biggest holding. Stonehage Fleming Financial Services Holdings Ltd's holdings in Visa were worth $179,776,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Nuveen LLC bought a new position in shares of Visa in the first quarter valued at approximately $3,518,533,000. Vanguard Group Inc. increased its position in shares of Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock valued at $56,452,949,000 after buying an additional 1,677,088 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Visa by 17.7% in the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor's stock valued at $3,847,953,000 after buying an additional 1,651,954 shares in the last quarter. MUFG Securities EMEA plc acquired a new position in Visa in the 1st quarter worth $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Visa by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock worth $5,003,569,000 after purchasing an additional 955,392 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

NYSE V opened at $345.81 on Thursday. Visa Inc. has a 1 year low of $278.35 and a 1 year high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $633.80 billion, a PE ratio of 33.77, a P/E/G ratio of 2.06 and a beta of 0.90. The company's 50 day simple moving average is $344.14 and its two-hundred day simple moving average is $346.97.

Visa (NYSE:V - Get Free Report) last issued 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 net margin of 52.16% and a return on equity of 58.93%. The firm 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 firm earned $2.42 EPS. The business's revenue for the quarter was up 14.3% compared to the same quarter last year. Analysts predict 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 was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa's dividend payout ratio (DPR) is 23.05%.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on Wednesday, October 1st. The shares were 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 of the company's stock, valued at $183,815.10. The trade was 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 available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's 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 transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on V. Robert W. Baird set a $410.00 price objective on shares of Visa and gave the stock an "outperform" rating in a research note on Monday, October 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research note on Thursday, July 17th. They issued a "buy" rating and a $410.00 price objective on the stock. Oppenheimer raised their target price on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Truist Financial cut their price target on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Visa in a report on Wednesday, October 8th. One research 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.