Visa Inc. $V is TCV Trust & Wealth Management Inc.'s 10th Largest Position

Key Points

• TCV Trust & Wealth Management Inc. reduced its stake in Visa Inc. by 3.0%, selling 2,163 shares, bringing its total to 69,613 shares, valued at approximately $24.7 million.
• Visa reported earnings of $2.98 per share for the quarter, beating estimates, with revenue of $10.17 billion, up 14.3% from the previous year.
• The company recently paid a quarterly dividend of $0.59 per share, representing an annual yield of 0.7% and a payout ratio of 23.05%.

TCV Trust & Wealth Management Inc. cut its position in Visa Inc. (NYSE:V - Free Report) by 3.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 69,613 shares of the credit-card processor's stock after selling 2,163 shares during the period. Visa makes up 2.2% of TCV Trust & Wealth Management Inc.'s holdings, making the stock its 10th largest position. TCV Trust & Wealth Management Inc.'s holdings in Visa were worth $24,716,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Visa by 27.5% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 84,015 shares of the credit-card processor's stock valued at $29,803,000 after purchasing an additional 18,100 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in shares of Visa in the second quarter valued at about $50,406,000. IFM Investors Pty Ltd increased its holdings in shares of Visa by 3.1% in the second quarter. IFM Investors Pty Ltd now owns 336,687 shares of the credit-card processor's stock valued at $119,541,000 after purchasing an additional 10,099 shares during the period. Canoe Financial LP increased its holdings in shares of Visa by 1.3% in the second quarter. Canoe Financial LP now owns 388,408 shares of the credit-card processor's stock valued at $137,904,000 after purchasing an additional 5,053 shares during the period. Finally, Sky Investment Group LLC increased its holdings in shares of Visa by 1.7% in the second quarter. Sky Investment Group LLC now owns 7,385 shares of the credit-card processor's stock valued at $2,622,000 after purchasing an additional 126 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Morgan Stanley raised their target price on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Citigroup assumed coverage on Visa in a report on Monday, June 2nd. They set a "buy" rating on the stock. Barclays reaffirmed an "overweight" rating and set a $408.00 target price (up from $396.00) on shares of Visa in a report on Thursday, July 31st. UBS Group reaffirmed a "buy" rating and set a $415.00 target price (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Finally, Macquarie raised their target price on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $385.96.

Visa Price Performance

Shares of NYSE V traded up $2.58 during midday trading on Monday, hitting $344.19. The stock had a trading volume of 3,310,104 shares, compared to its average volume of 6,456,604. The company has a market capitalization of $630.84 billion, a PE ratio of 33.61, a P/E/G ratio of 2.27 and a beta of 0.92. The stock has a 50 day simple moving average of $345.70 and a 200-day simple moving average of $346.38. Visa Inc. has a 1 year low of $268.23 and a 1 year high of $375.51. 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 (NYSE:V - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share 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 return on equity of 58.93% and a net margin of 52.16%.The business's quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.42 earnings per share. On average, sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's dividend payout ratio (DPR) is 23.05%.

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.