Enhancing Capital LLC Reduces Stake in Visa Inc. (NYSE:V)

Key Points

• Enhancing Capital LLC reduced its stake in Visa Inc. by 23.0%, now holding 5,500 shares valued at approximately $1.93 million.
• Visa recently reported a 14.3% increase in revenue year-over-year, reaching $10.17 billion, along with earnings per share of $2.98, surpassing forecasts.
• The company announced a quarterly dividend of $0.59, with a yield of 0.7%, to be paid to shareholders on September 2nd.

Enhancing Capital LLC lessened its stake in Visa Inc. (NYSE:V - Free Report) by 23.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,500 shares of the credit-card processor's stock after selling 1,644 shares during the quarter. Visa makes up about 1.5% of Enhancing Capital LLC's holdings, making the stock its 22nd largest position. Enhancing Capital LLC's holdings in Visa were worth $1,928,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of V. von Borstel & Associates Inc. bought a new position in Visa during the first quarter valued at about $27,000. Measured Risk Portfolios Inc. bought a new position in shares of Visa during the 4th quarter valued at approximately $47,000. Navigoe LLC bought a new position in shares of Visa during the 4th quarter valued at approximately $53,000. O Brien Wealth Partners LLC purchased a new stake in shares of Visa during the 1st quarter worth approximately $54,000. Finally, Global X Japan Co. Ltd. purchased a new position in Visa in the first quarter valued at approximately $56,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Buying and Selling at Visa

In related news, insider Paul D. Fabara sold 46,214 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were 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 of the company's stock, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's 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 owned 537 shares in the company, 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 sold a total of 75,100 shares of company stock valued at $27,643,224 in the last ninety days. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on V. BMO Capital Markets lifted their price objective on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Piper Sandler raised their price objective on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. William Blair reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Finally, Macquarie lifted their price target on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $380.84.

Visa Stock Performance

Shares of Visa stock traded up $2.98 on Thursday, hitting $345.53. 6,168,150 shares of the company's stock were exchanged, compared to its average volume of 6,625,854. Visa Inc. has a 1 year low of $262.84 and a 1 year high of $375.51. The company has a 50-day simple moving average of $351.11 and a 200-day simple moving average of $347.19. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $633.27 billion, a PE ratio of 33.74, a PEG ratio of 2.24 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping 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 business's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.42 earnings per share. As a group, equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's dividend 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.