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Visa Inc. (NYSE:V) Shares Sold by Allen Investment Management LLC

Visa logo with Business Services background

Key Points

  • Visa Inc. is currently the largest position for Allen Investment Management LLC, representing about 7.5% of their portfolio, with holdings valued at approximately $644.9 million.
  • Institutional investors collectively own 82.15% of Visa, with significant increases in positions from firms like Geode Capital Management and Northern Trust Corp in recent quarters.
  • Visa recently reported a quarterly earnings per share of $2.76, exceeding analyst estimates, along with a 9.3% year-over-year revenue increase to $9.59 billion.
  • MarketBeat previews the top five stocks to own by September 1st.

Allen Investment Management LLC lowered its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 0.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,840,108 shares of the credit-card processor's stock after selling 4,404 shares during the period. Visa comprises about 7.5% of Allen Investment Management LLC's portfolio, making the stock its biggest holding. Allen Investment Management LLC owned about 0.10% of Visa worth $644,884,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. von Borstel & Associates Inc. purchased a new stake in shares of Visa in the first quarter worth approximately $27,000. Measured Risk Portfolios Inc. bought a new stake in Visa during the fourth quarter valued at $47,000. Navigoe LLC bought a new stake in Visa during the fourth quarter worth about $53,000. O Brien Wealth Partners LLC purchased a new position in Visa during the 1st quarter valued at about $54,000. Finally, Hurley Capital LLC bought a new stake in Visa during the 4th quarter valued at approximately $56,000. Institutional investors own 82.15% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on V shares. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Macquarie lowered their target price on shares of Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. BMO Capital Markets lifted their price objective on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. William Blair restated an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Finally, Evercore ISI began coverage on shares of Visa in a report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price objective for the company. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Visa has an average rating of "Moderate Buy" and an average price target of $377.16.

View Our Latest Stock Analysis on Visa

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at $190,001.34. The trade was a 94.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,108 shares of company stock worth $36,771,200. 0.13% of the stock is currently owned by company insiders.

Visa Stock Down 0.1%

Visa stock traded down $0.41 during mid-day trading on Wednesday, reaching $350.88. The stock had a trading volume of 6,719,360 shares, compared to its average volume of 6,562,838. The firm has a market capitalization of $647.42 billion, a PE ratio of 35.48, a price-to-earnings-growth ratio of 2.40 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a fifty-two week low of $254.51 and a fifty-two week high of $375.51. The stock's 50-day simple moving average is $355.76 and its 200-day simple moving average is $345.83.

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 for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The business's quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.42 earnings per share. On average, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa's dividend payout ratio (DPR) is 23.72%.

About Visa

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Visa (NYSE:V)

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