GKV Capital Management Co. Inc. Cuts Stock Holdings in Visa Inc. (NYSE:V)

Key Points

• GKV Capital Management Co. Inc. significantly reduced its holdings in Visa Inc. by 96.1%, now owning only 668 shares after selling over 16,000 shares during the first quarter.
• Visa reported strong earnings, with a EPS of $2.98 for the last quarter, surpassing estimates and reflecting a 14.3% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.59, with a yield of 0.7%, scheduled for distribution on September 2nd.

GKV Capital Management Co. Inc. cut its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 96.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 668 shares of the credit-card processor's stock after selling 16,257 shares during the period. GKV Capital Management Co. Inc.'s holdings in Visa were worth $234,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. FWL Investment Management LLC increased its stake in Visa by 0.5% in the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock worth $2,005,000 after purchasing an additional 29 shares in the last quarter. Yeomans Consulting Group Inc. increased its holdings in shares of Visa by 2.9% in the 1st 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. Semus Wealth Partners LLC increased its holdings in shares of Visa by 0.8% in the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock valued at $1,209,000 after purchasing an additional 29 shares during the period. Capstone Financial Advisors Inc. increased its holdings in shares of Visa by 3.6% in the 4th quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock valued at $276,000 after purchasing an additional 30 shares during the period. Finally, Headinvest LLC increased its holdings in shares of Visa by 0.8% in the 4th quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock valued at $1,265,000 after purchasing an additional 30 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction dated 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 directly owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction dated Wednesday, June 11th. The shares were 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 of the company's stock, valued at $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,100 shares of company stock worth $27,643,224 over the last ninety days. 0.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

V has been the subject of several analyst reports. Morgan Stanley boosted their target price on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Citigroup began coverage on Visa in a research note on Monday, June 2nd. They issued a "buy" rating for the company. BMO Capital Markets upped their price target on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Truist Financial lowered their price target on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Finally, The Goldman Sachs Group began coverage on Visa in a research report on Monday, June 2nd. They issued a "neutral" rating on the stock. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $380.84.

Visa Stock Up 1.8%

Shares of NYSE:V traded up $5.92 during trading on Wednesday, hitting $342.66. 5,692,001 shares of the company were exchanged, compared to its average volume of 6,341,925. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a market cap of $628.02 billion, a price-to-earnings ratio of 33.46, a P/E/G ratio of 2.24 and a beta of 0.94. Visa Inc. has a fifty-two week low of $258.74 and a fifty-two week high of $375.51. The firm has a fifty day moving average price of $351.11 and a two-hundred day moving average price of $347.19.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%. The firm's revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.42 EPS. As a group, research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be paid 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 (DPR) 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.