Visa Inc. $V Holdings Decreased by Berger Financial Group Inc

Key Points

• Berger Financial Group Inc decreased its holdings in Visa Inc. by 3.1%, resulting in ownership of 29,002 shares valued at approximately $10.3 million.
• In the second quarter, other institutional investors significantly increased their stakes in Visa, with companies like Cranbrook Wealth Management and Westend Capital Management seeing growth rates of 82.0% and 83.1% respectively.
• Visa Inc. reported quarterly earnings of $2.98 per share, beating analysts' expectations of $2.85 and achieving a revenue of $10.17 billion, which is a 14.3% increase from the previous year.

Berger Financial Group Inc decreased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,002 shares of the credit-card processor's stock after selling 921 shares during the quarter. Berger Financial Group Inc's holdings in Visa were worth $10,297,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Keystone Global Partners LLC purchased a new position in Visa in the first quarter valued at about $26,000. Family Legacy Financial Solutions LLC purchased a new position in Visa in the second quarter valued at about $28,000. von Borstel & Associates Inc. purchased a new position in Visa in the first quarter valued at about $27,000. Cranbrook Wealth Management LLC grew its stake in Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock valued at $32,000 after purchasing an additional 41 shares in the last quarter. Finally, Westend Capital Management LLC grew its stake in Visa by 83.1% in the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor's stock valued at $38,000 after purchasing an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Price Performance

NYSE V opened at $351.96 on Wednesday. Visa Inc. has a twelve month low of $274.01 and a twelve month high of $375.51. 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 $645.06 billion, a PE ratio of 34.37, a P/E/G ratio of 2.07 and a beta of 0.90. The stock has a 50-day simple moving average of $343.65 and a 200 day simple moving average of $346.93.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share 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 in the previous year, the firm earned $2.42 EPS. The firm's revenue was up 14.3% compared to the same quarter last year. Research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given 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 was Tuesday, August 12th. Visa's payout ratio is currently 23.05%.

Wall Street Analyst Weigh In

A number of research analysts have commented on V shares. Truist Financial lowered their target price on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. UBS Group reaffirmed a "buy" rating and issued a $415.00 price target (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Barclays reaffirmed an "overweight" rating and issued a $408.00 price target (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Oppenheimer boosted their price target on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Morgan Stanley boosted their price target on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $389.00.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the business's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at $183,815.10. This represents a 95.13% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

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.

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