Tritonpoint Wealth LLC Sells 2,459 Shares of Visa Inc. $V

Key Points

• Tritonpoint Wealth LLC reduced its stake in Visa Inc. by 3.8%, selling 2,459 shares, and now holds approximately $21.86 million in Visa stock, making it the firm's 9th largest position.
• Visa's most recent quarterly earnings report showed earnings per share of $2.98, surpassing the consensus estimate of $2.85, with revenues of $10.17 billion compared to expectations of $9.82 billion.
• A number of institutional investors have increased their stakes in Visa, with the majority of the company's stock, about 82.15%, now held by hedge funds and institutional investors.

Tritonpoint Wealth LLC cut its stake in shares of Visa Inc. (NYSE:V - Free Report) by 3.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,561 shares of the credit-card processor's stock after selling 2,459 shares during the period. Visa comprises approximately 2.0% of Tritonpoint Wealth LLC's holdings, making the stock its 9th largest position. Tritonpoint Wealth LLC's holdings in Visa were worth $21,857,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in V. Lakeridge Wealth Management LLC grew its position in Visa by 5.7% in the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after acquiring an additional 81 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Visa by 14.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock worth $159,523,000 after buying an additional 57,800 shares during the last quarter. Iron Gate Global Advisors LLC raised its stake in Visa by 5.9% during the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock valued at $22,040,000 after purchasing an additional 3,484 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Visa by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock valued at $5,003,569,000 after purchasing an additional 955,392 shares during the last quarter. Finally, Yeomans Consulting Group Inc. raised its stake in Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after purchasing an additional 29 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by corporate insiders.

Visa Stock Performance

Shares of V stock opened at $341.34 on Wednesday. The company has a market capitalization of $625.61 billion, a P/E ratio of 33.33, a price-to-earnings-growth ratio of 2.26 and a beta of 0.92. Visa Inc. has a 52 week low of $273.24 and a 52 week high of $375.51. The company's 50 day moving average price is $344.23 and its two-hundred day moving average price is $346.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V - Get Free Report) last issued 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 company had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business's quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the business earned $2.42 EPS. On average, analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Morgan Stanley upped their target price on shares of Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Raymond James Financial reissued an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research note on Thursday, July 17th. They issued a "buy" rating and a $410.00 target price on the stock. Finally, Barclays reaffirmed an "overweight" rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $385.96.

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.

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