Visa Inc. (NYSE:V) Shares Sold by Sunpointe LLC

Key Points

• Sunpointe LLC has reduced its stake in Visa Inc. by 32.8%, owning 2,849 shares valued at $999,000 after selling 1,388 shares in the first quarter.
• Several institutional investors have increased their holdings in Visa, with Sheaff Brock Investment Advisors LLC raising their stake by 118% to 23,310 shares worth $8,169,000.
• Visa recently announced a quarterly dividend of $0.59, which represents an annual yield of 0.66%, while the company's debt-to-equity ratio stands at 0.45.

Sunpointe LLC cut its holdings in Visa Inc. (NYSE:V - Free Report) by 32.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,849 shares of the credit-card processor's stock after selling 1,388 shares during the quarter. Sunpointe LLC's holdings in Visa were worth $999,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of V. Geode Capital Management LLC increased its holdings in Visa by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock worth $12,729,901,000 after buying an additional 1,689,926 shares during the last quarter. Capital International Investors grew its position in shares of Visa by 3.8% during the 4th quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock worth $7,526,660,000 after purchasing an additional 866,596 shares in the last quarter. Capital World Investors grew its position in Visa by 1.0% during the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock worth $7,356,614,000 after buying an additional 241,057 shares in the last quarter. Northern Trust Corp boosted 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 acquiring an additional 2,785,707 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Visa by 38,416.3% during the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock worth $5,173,271,000 after purchasing an additional 14,723,050 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Trading Down 0.6%

Shares of NYSE:V traded down $2.15 during midday trading on Thursday, reaching $348.76. The company's stock had a trading volume of 3,762,082 shares, compared to its average volume of 6,583,312. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a fifty-two week low of $254.51 and a fifty-two week high of $375.51. The firm has a 50 day moving average price of $355.61 and a two-hundred day moving average price of $345.86. The firm has a market capitalization of $643.52 billion, a price-to-earnings ratio of 34.08, a PEG ratio of 2.37 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 59.03%. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same period in the previous year, the business earned $2.42 EPS. The business's revenue for the quarter was up 14.3% on a year-over-year basis. As a group, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current 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 issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. Visa's dividend payout ratio is presently 23.05%.

Insider Buying and Selling at Visa

In other news, 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 value of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the sale, the insider owned 26,413 shares of the company's stock, valued at $9,772,810. This trade 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 in the last quarter. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently commented on V shares. Oppenheimer lifted their price target on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Piper Sandler boosted their price objective on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Barclays reissued an "overweight" rating and issued a $408.00 price target on shares of Visa in a research note on Thursday. Evercore ISI initiated coverage on Visa in a research note on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price objective for the company. Finally, Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $379.04.

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.