Trillium Asset Management LLC Sells 41,155 Shares of Visa Inc. $V

Trillium Asset Management LLC lowered its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 33.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,502 shares of the credit-card processor's stock after selling 41,155 shares during the quarter. Trillium Asset Management LLC's holdings in Visa were worth $27,963,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cresta Advisors Ltd. acquired a new stake in Visa during the 4th quarter worth approximately $26,000. Parvin Asset Management LLC lifted its stake in Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor's stock valued at $26,000 after buying an additional 50 shares in the last quarter. RHL Group LLC acquired a new position in shares of Visa in the fourth quarter valued at approximately $34,000. Timmons Wealth Management LLC acquired a new position in shares of Visa in the fourth quarter valued at approximately $34,000. Finally, Copos Capital S.a r.l. bought a new stake in shares of Visa during the fourth quarter worth $35,000. Institutional investors own 82.15% of the company's stock.

Visa Stock Up 0.2%

V opened at $366.31 on Friday. The stock's fifty day simple moving average is $352.75 and its 200 day simple moving average is $329.35. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $373.97. The stock has a market cap of $653.65 billion, a PE ratio of 31.15, a price-to-earnings-growth ratio of 1.96 and a beta of 0.74. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $3.32 EPS for the quarter, topping analysts' consensus estimates of $3.23 by $0.09. Visa had a net margin of 50.78% and a return on equity of 67.68%. The firm had revenue of $11.63 billion during the quarter, compared to analysts' expectations of $11.40 billion. During the same period in the previous year, the business posted $2.98 earnings per share. The company's revenue for the quarter was up 14.4% compared to the same quarter last year. As a group, research analysts expect that Visa Inc. will post 13.16 earnings per share for the current year.

Visa announced that its board has initiated a stock repurchase program on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board believes its stock is undervalued.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 11th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, August 11th. Visa's dividend payout ratio (DPR) is currently 22.79%.

Insider Buying and Selling

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total value of $729,720.00. Following the transaction, the general counsel owned 18,404 shares in the company, valued at approximately $6,625,440. This represents a 9.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 10,490 shares of the company's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $343.99, for a total transaction of $3,608,455.10. Following the completion of the transaction, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,219,704.26. This trade represents a 40.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 90,759 shares of company stock valued at $32,375,779. Company insiders own 0.12% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on V shares. JPMorgan Chase & Co. boosted their price objective on shares of Visa from $400.00 to $450.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. Wolfe Research reissued an "outperform" rating and issued a $435.00 price target (up from $430.00) on shares of Visa in a research note on Wednesday, July 29th. Morgan Stanley restated an "overweight" rating and issued a $416.00 price target on shares of Visa in a report on Wednesday, July 29th. Barclays began coverage on Visa in a research report on Tuesday, July 7th. They set an "overweight" rating and a $420.00 price objective for the company. Finally, BNP Paribas Exane raised Visa to a "strong-buy" rating in a research report on Tuesday, July 21st. Seven research analysts have rated the stock with a Strong Buy rating and twenty-four have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $413.58.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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