Visa Inc. (NYSE:V) Shares Sold by Certified Advisory Corp

Key Points

• Certified Advisory Corp reduced its holdings in Visa Inc. by 9.8% during the 1st quarter, now owning 12,557 shares valued at $4.4 million.
• Visa reported $2.98 EPS for the last quarter, exceeding estimates and showing a 14.3% year-over-year revenue growth to $10.17 billion.
• The upcoming quarterly dividend of $0.59 will be paid on September 2nd, representing a 0.7% dividend yield.

Certified Advisory Corp trimmed its holdings in Visa Inc. (NYSE:V - Free Report) by 9.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,557 shares of the credit-card processor's stock after selling 1,358 shares during the period. Certified Advisory Corp's holdings in Visa were worth $4,401,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Lindenwold Advisors INC boosted its stake in Visa by 83.3% in the 1st quarter. Lindenwold Advisors INC now owns 9,580 shares of the credit-card processor's stock worth $3,357,000 after buying an additional 4,354 shares during the last quarter. Lynwood Price Capital Management LP boosted its stake in Visa by 370.0% in the 1st quarter. Lynwood Price Capital Management LP now owns 23,500 shares of the credit-card processor's stock worth $8,236,000 after buying an additional 18,500 shares during the last quarter. Nicolet Advisory Services LLC boosted its stake in Visa by 4.3% in the 1st quarter. Nicolet Advisory Services LLC now owns 5,915 shares of the credit-card processor's stock worth $1,920,000 after buying an additional 246 shares during the last quarter. Momentous Wealth Management Inc. boosted its stake in Visa by 3.2% in the 1st quarter. Momentous Wealth Management Inc. now owns 1,171 shares of the credit-card processor's stock worth $410,000 after buying an additional 36 shares during the last quarter. Finally, Wealthquest Corp boosted its stake in Visa by 3.2% in the 1st quarter. Wealthquest Corp now owns 1,893 shares of the credit-card processor's stock worth $663,000 after buying an additional 58 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

V has been the topic of a number of research analyst reports. Oppenheimer raised their price target on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Piper Sandler raised their price objective on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Citigroup began coverage on Visa in a report on Monday, June 2nd. They issued a "buy" rating on the stock. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Finally, Macquarie raised their price objective on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a report on Thursday. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $380.84.

Visa Stock Down 1.9%

V stock traded down $6.66 during midday trading on Friday, hitting $338.81. 8,655,366 shares of the company's stock were exchanged, compared to its average volume of 5,746,410. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 0.52. Visa Inc. has a 12-month low of $254.51 and a 12-month high of $375.51. The firm has a 50 day moving average price of $355.06 and a 200-day moving average price of $346.34. The stock has a market capitalization of $625.16 billion, a price-to-earnings ratio of 33.09, a price-to-earnings-growth ratio of 2.30 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $9.82 billion. During the same period in the previous year, the business earned $2.42 EPS. Visa's revenue for the quarter was up 14.3% compared to the same quarter last year. On average, analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the transaction, the insider owned 26,413 shares in the company, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,913 shares of company stock worth $32,902,432 over the last 90 days. 0.13% of the stock is owned by company insiders.

Visa 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.