Visa Inc. (NYSE:V) Shares Sold by UNIVEST FINANCIAL Corp

Key Points

• UNIVEST FINANCIAL Corp reduced its stake in Visa Inc. by 8.5%, owning 74,227 shares valued at approximately $26 million, making it their 11th largest position.
• Analysts are generally optimistic about Visa, with 23 out of 29 analysts rating the stock as a buy, and Mizuho recently increasing their price target to $425.
• Visa announced a quarterly dividend of $0.59 per share, reflecting a 0.7% yield, payable to shareholders on September 2nd.

UNIVEST FINANCIAL Corp reduced its holdings in Visa Inc. (NYSE:V - Free Report) by 8.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,227 shares of the credit-card processor's stock after selling 6,892 shares during the period. Visa makes up 1.7% of UNIVEST FINANCIAL Corp's holdings, making the stock its 11th biggest position. UNIVEST FINANCIAL Corp's holdings in Visa were worth $26,014,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of V. FWL Investment Management LLC increased its position in shares of Visa by 0.5% during the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after acquiring an additional 29 shares during the last quarter. Yeomans Consulting Group Inc. increased its position in shares of Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after acquiring an additional 29 shares during the last quarter. Semus Wealth Partners LLC increased its position in shares of Visa by 0.8% during the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock valued at $1,209,000 after acquiring an additional 29 shares during the last quarter. Capstone Financial Advisors Inc. grew its holdings in shares of Visa by 3.6% in the fourth 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 in the last quarter. Finally, Headinvest LLC grew its holdings in shares of Visa by 0.8% in the fourth 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 in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

V has been the subject of a number of research reports. Evercore ISI initiated 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. William Blair restated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Citigroup initiated coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating for the company. Truist Financial dropped their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Finally, Morgan Stanley lifted their price objective on shares of Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $380.84.

Visa Stock Performance

Visa stock traded down $6.66 during trading hours on Friday, reaching $338.81. 8,655,366 shares of the stock were exchanged, compared to its average volume of 5,746,410. The stock has a market cap of $625.16 billion, a P/E ratio of 33.09, a P/E/G ratio of 2.30 and a beta of 0.94. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.08 and a current ratio of 1.12. Visa Inc. has a 52-week low of $254.51 and a 52-week high of $375.51. The firm's 50 day moving average is $355.06 and its 200 day moving average is $346.34.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.42 EPS. Analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently declared 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 0.7%. The ex-dividend date is Tuesday, August 12th. Visa's dividend payout ratio (DPR) is currently 23.05%.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,913 shares of company stock valued at $32,902,432 in the last quarter. Insiders own 0.13% of the company's stock.

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.