Versant Capital Management Inc Reduces Holdings in Visa Inc. $V

Key Points

• Versant Capital Management Inc reduced its stake in Visa Inc. by 12.4%, holding 5,665 shares worth $2,011,000 after selling 803 shares in the second quarter.
• Analysts remain optimistic about Visa, with Barclays setting a price target of $408 and Mizuho raising their target to $425, reflecting a consensus rating of "Moderate Buy."
• Visa recently announced a quarterly dividend of $0.59, with a current dividend yield of 0.7% and a payout ratio of 23.05%.

Versant Capital Management Inc trimmed its stake in Visa Inc. (NYSE:V - Free Report) by 12.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,665 shares of the credit-card processor's stock after selling 803 shares during the period. Versant Capital Management Inc's holdings in Visa were worth $2,011,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Lakeridge Wealth Management LLC grew its position in Visa by 5.7% during the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after purchasing an additional 81 shares during 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 valued at $159,523,000 after purchasing an additional 57,800 shares during the period. Iron Gate Global Advisors LLC lifted its stake in shares of Visa by 5.9% in the first 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 period. Yeomans Consulting Group Inc. lifted its stake in shares of Visa by 2.9% in the first 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 period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Visa by 7.2% in the first 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 period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

V has been the subject of a number of recent research reports. Barclays reiterated an "overweight" rating and set a $408.00 price target (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Macquarie upped their price target on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Truist Financial lowered their price target on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Finally, The Goldman Sachs Group started coverage on shares of Visa in a report on Monday, June 2nd. They issued a "neutral" rating for the company. One research 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 data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $385.96.

Insider Activity at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's 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 completion of the transaction, the general counsel directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction that occurred on 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 owned 537 shares in the company, valued at $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Visa Stock Down 1.2%

Shares of V stock opened at $339.33 on Friday. Visa Inc. has a one year low of $268.23 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a fifty day moving average price of $347.03 and a 200 day moving average price of $346.92. The stock has a market cap of $621.92 billion, a P/E ratio of 33.14, a price-to-earnings-growth ratio of 2.29 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.42 earnings per share. Analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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

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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