Visa Inc. (NYSE:V) Stake Trimmed by Eaton Financial Holdings Company LLC

Key Points

• Eaton Financial Holdings Company LLC has reduced its stake in Visa Inc. by 20.8%, now owning 3,817 shares worth approximately $1,338,000.
• In the first quarter, several institutional investors increased their positions in Visa, with Global Endowment Management LP boosting its holdings by 31.6%.
• Visa has declared a quarterly dividend of $0.59 per share, to be paid on September 2nd, representing an annualized yield of 0.7%.

Eaton Financial Holdings Company LLC lowered its stake in Visa Inc. (NYSE:V - Free Report) by 20.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,817 shares of the credit-card processor's stock after selling 1,002 shares during the quarter. Eaton Financial Holdings Company LLC's holdings in Visa were worth $1,338,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Forvis Mazars Wealth Advisors LLC lifted its holdings in Visa by 8.2% in the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 10,042 shares of the credit-card processor's stock worth $3,519,000 after purchasing an additional 763 shares during the last quarter. Global Endowment Management LP increased its position in Visa by 31.6% in the 1st quarter. Global Endowment Management LP now owns 1,934 shares of the credit-card processor's stock worth $678,000 after buying an additional 464 shares during the period. Gen Wealth Partners Inc increased its position in Visa by 4.6% in the 1st quarter. Gen Wealth Partners Inc now owns 5,372 shares of the credit-card processor's stock worth $1,883,000 after buying an additional 237 shares during the period. Nations Financial Group Inc. IA ADV increased its position in Visa by 4.8% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 27,808 shares of the credit-card processor's stock worth $9,746,000 after buying an additional 1,282 shares during the period. Finally, Thompson Davis & CO. Inc. increased its position in Visa by 3.4% in the 1st quarter. Thompson Davis & CO. Inc. now owns 1,263 shares of the credit-card processor's stock worth $443,000 after buying an additional 41 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,630 shares of Visa 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 sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction dated 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 sale, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,100 shares of company stock worth $27,643,224 over the last quarter. 0.13% of the stock is currently owned by corporate insiders.

Visa Stock Performance

Shares of V stock opened at $344.44 on Friday. The business's 50-day moving average price is $350.17 and its 200-day moving average price is $347.34. Visa Inc. has a 12 month low of $265.23 and a 12 month high of $375.51. The firm has a market capitalization of $631.29 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 2.30 and a beta of 0.94. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

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, 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 business had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter last year, the firm posted $2.42 earnings per share. The firm's revenue was up 14.3% on a year-over-year basis. Equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have weighed in on V shares. Morgan Stanley upped their price target on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. 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. Macquarie upped their price target on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. William Blair restated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Finally, Truist Financial decreased their target price on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Visa has an average rating of "Moderate Buy" and an average target price of $380.84.

About Visa

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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