Strategic Investment Solutions Inc. IL Trims Stake in Visa Inc. (NYSE:V)

Key Points

• Strategic Investment Solutions Inc. IL significantly reduced its stake in Visa Inc. by 81.9%, owning only 222 shares after selling 1,003 shares in the first quarter.
• Visa reported a quarterly earnings per share of $2.98, surpassing expectations of $2.85, and a revenue of $10.17 billion, which was above the predicted $9.82 billion.
• Visa recently declared a quarterly dividend of $0.59 per share, representing a 0.7% yield, with the payment scheduled for September 2nd, 2023.

Strategic Investment Solutions Inc. IL lowered its position in Visa Inc. (NYSE:V - Free Report) by 81.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 222 shares of the credit-card processor's stock after selling 1,003 shares during the period. Strategic Investment Solutions Inc. IL's holdings in Visa were worth $78,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in V. von Borstel & Associates Inc. purchased a new position in shares of Visa during the first quarter valued at approximately $27,000. Measured Risk Portfolios Inc. purchased a new position in Visa during the fourth quarter valued at $47,000. Navigoe LLC purchased a new position in Visa during the fourth quarter valued at $53,000. O Brien Wealth Partners LLC bought a new stake in Visa in the first quarter worth $54,000. Finally, Hurley Capital LLC purchased a new stake in shares of Visa in the fourth quarter worth $56,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on V shares. Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. UBS Group reaffirmed a "buy" rating and issued a $415.00 target price (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Barclays reiterated an "overweight" rating and set a $408.00 target price (up from $396.00) on shares of Visa in a research note on Thursday. Oppenheimer increased their price objective 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. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Visa currently has an average rating of "Moderate Buy" and an average target price of $380.84.

Visa Stock Performance

NYSE V opened at $338.81 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a twelve month low of $254.51 and a twelve month high of $375.51. The business has a 50-day moving average price of $355.06 and a 200-day moving average price of $346.75. The firm has a market cap of $625.16 billion, a price-to-earnings ratio of 33.09, a price-to-earnings-growth ratio of 2.26 and a beta of 0.94.

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

Visa Dividend Announcement

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 $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, August 12th. Visa's payout ratio is currently 23.05%.

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the sale, the insider directly owned 26,413 shares in the company, valued at $9,904,875. The trade was a 30.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction dated Tuesday, July 1st. The shares were 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 of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,913 shares of company stock worth $32,902,432 in the last 90 days. 0.13% of the stock is currently owned by company insiders.

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.

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