Visa Inc. (NYSE:V) Shares Sold by Freestone Capital Holdings LLC

Key Points

• Freestone Capital Holdings LLC reduced its stake in Visa Inc. by 5.0%, now holding 68,660 shares valued at approximately $24.06 million.
• CEO Ryan Mcinerney and insider Paul D. Fabara sold significant shares recently, with Mcinerney's sale constituting a 94.14% decrease in his position.
• Analysts have a consensus rating of "Moderate Buy" for Visa, with a current target price ranging from $380.84 to $425.00 based on various research reports.

Freestone Capital Holdings LLC cut its stake in shares of Visa Inc. (NYSE:V - Free Report) by 5.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 68,660 shares of the credit-card processor's stock after selling 3,614 shares during the period. Visa comprises about 0.9% of Freestone Capital Holdings LLC's holdings, making the stock its 19th biggest holding. Freestone Capital Holdings LLC's holdings in Visa were worth $24,063,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Brighton Jones LLC grew its holdings in shares of Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after purchasing an additional 6,883 shares during the period. Revolve Wealth Partners LLC grew its holdings in shares of Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after purchasing an additional 4,817 shares during the period. Jump Financial LLC grew its holdings in shares of Visa by 241.6% in the fourth quarter. Jump Financial LLC now owns 3,546 shares of the credit-card processor's stock valued at $1,121,000 after purchasing an additional 2,508 shares during the period. First Trust Advisors LP grew its holdings in shares of Visa by 2.1% in the fourth quarter. First Trust Advisors LP now owns 1,686,787 shares of the credit-card processor's stock valued at $533,092,000 after purchasing an additional 34,769 shares during the period. Finally, Dnca Finance grew its holdings in shares of Visa by 4.3% in the fourth quarter. Dnca Finance now owns 199,447 shares of the credit-card processor's stock valued at $63,033,000 after purchasing an additional 8,270 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Buying and Selling at Visa

In other 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 transaction, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. The trade was a 94.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider directly owned 26,413 shares of the company's stock, valued at $9,772,810. This trade represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,100 shares of company stock valued at $27,643,224 in the last ninety days. Corporate insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

V has been the subject of several research analyst reports. Citigroup initiated coverage on shares of Visa in a research note on Monday, June 2nd. They set a "buy" rating for the company. Oppenheimer increased their target price on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Macquarie increased their target price 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. Barclays reaffirmed an "overweight" rating and set a $408.00 target price (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Finally, William Blair reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Five investment 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. According to MarketBeat, Visa has a consensus rating of "Moderate Buy" and a consensus target price of $380.84.

Visa Stock Performance

NYSE:V opened at $344.44 on Friday. The firm's fifty day moving average price is $350.17 and its 200 day moving average price is $347.41. Visa Inc. has a 1-year low of $265.23 and a 1-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 firm has a market cap of $631.29 billion, a price-to-earnings ratio of 33.64, a price-to-earnings-growth ratio of 2.29 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter last year, the company earned $2.42 earnings per share. Visa's quarterly revenue was up 14.3% compared to the same quarter last year. On average, sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be 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 is Tuesday, August 12th. Visa's payout ratio is 23.05%.

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.

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