Trinity Legacy Partners LLC Cuts Stock Position in Visa Inc. $V

Key Points

• Trinity Legacy Partners LLC reduced its stake in Visa Inc. by 16.9% during the first quarter, selling 3,078 shares and now holding 15,178 shares valued at approximately $5.4 million.
• Insider sales at Visa have been significant, with two executives, including CEO Ryan McInerney, selling a total of 77,127 shares worth over $28 million in the last quarter.
• Visa reported Q2 earnings that exceeded analysts' expectations with an EPS of $2.98 and revenue of $10.17 billion, showcasing a 14.3% year-over-year growth.

Trinity Legacy Partners LLC trimmed its holdings in Visa Inc. (NYSE:V - Free Report) by 16.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,178 shares of the credit-card processor's stock after selling 3,078 shares during the quarter. Visa comprises 1.4% of Trinity Legacy Partners LLC's portfolio, making the stock its 26th biggest holding. Trinity Legacy Partners LLC's holdings in Visa were worth $5,405,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Douglass Winthrop Advisors LLC raised its holdings in shares of Visa by 1.4% in the first quarter. Douglass Winthrop Advisors LLC now owns 46,755 shares of the credit-card processor's stock valued at $16,386,000 after buying an additional 637 shares during the last quarter. Sax Wealth Advisors LLC raised its holdings in shares of Visa by 10.3% in the first quarter. Sax Wealth Advisors LLC now owns 2,498 shares of the credit-card processor's stock valued at $876,000 after buying an additional 234 shares during the last quarter. Leslie Global Wealth LLC raised its holdings in shares of Visa by 7.5% in the first quarter. Leslie Global Wealth LLC now owns 745 shares of the credit-card processor's stock valued at $261,000 after buying an additional 52 shares during the last quarter. Strategies Wealth Advisors LLC bought a new position in shares of Visa in the first quarter valued at about $452,000. Finally, Titan Global Capital Management USA LLC raised its holdings in shares of Visa by 10.8% in the first quarter. Titan Global Capital Management USA LLC now owns 9,444 shares of the credit-card processor's stock valued at $3,310,000 after buying an additional 918 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 46,214 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the transaction, the insider directly owned 26,413 shares in the company, valued at $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 77,127 shares of company stock worth $28,340,553 over the last ninety days. 0.13% of the stock is owned by corporate insiders.

Visa Stock Performance

Shares of V traded up $5.6280 during mid-day trading on Friday, hitting $349.3180. The stock had a trading volume of 4,972,225 shares, compared to its average volume of 6,490,094. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 52 week low of $265.31 and a 52 week high of $375.51. The firm has a market cap of $640.23 billion, a P/E ratio of 34.11, a PEG ratio of 2.33 and a beta of 0.94. The business has a fifty day moving average price of $347.92 and a 200-day moving average price of $347.39.

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

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be given a dividend of $0.59 per share. 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 presently 23.05%.

Analyst Ratings Changes

A number of brokerages recently commented on V. Barclays reiterated an "overweight" rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Oppenheimer lifted their price objective on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Truist Financial lowered their price objective on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. The Goldman Sachs Group began coverage on Visa in a research report on Monday, June 2nd. They issued a "neutral" rating for the company. Finally, UBS Group reiterated a "buy" rating and issued a $415.00 price objective (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $380.84.

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.