Coalescence Partners Investment Management LP Cuts Position in Visa Inc. $V

Key Points

• Coalescence Partners Investment Management LP has reduced its stake in Visa Inc. by 26.8%, now holding approximately 64,797 shares, which represents about 7.5% of its investment portfolio.
• Visa recently reported earnings of $2.98 per share, exceeding estimates, with revenues of $10.17 billion, up 14.3% year-over-year.
• Multiple brokerages have raised their price targets for Visa, with the average consensus now at $380.84 and ratings predominantly at "Buy" or "Outperform."

Coalescence Partners Investment Management LP trimmed its stake in shares of Visa Inc. (NYSE:V - Free Report) by 26.8% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 64,797 shares of the credit-card processor's stock after selling 23,744 shares during the quarter. Visa comprises about 7.5% of Coalescence Partners Investment Management LP's portfolio, making the stock its 4th biggest holding. Coalescence Partners Investment Management LP's holdings in Visa were worth $22,709,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of V. GAMMA Investing LLC lifted its position in shares of Visa by 38,416.3% during the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after acquiring an additional 14,723,050 shares during the period. Nuveen LLC acquired a new stake in Visa in the first quarter valued at about $3,518,533,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Visa in the fourth quarter valued at about $673,689,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Visa by 14.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,321,754 shares of the credit-card processor's stock worth $4,210,207,000 after acquiring an additional 1,723,785 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Visa by 1.1% during the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock worth $56,452,949,000 after acquiring an additional 1,677,088 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on V. Citigroup began coverage on Visa in a research note on Monday, June 2nd. They set a "buy" rating for the company. Truist Financial lowered their target price on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Macquarie boosted their target price on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Jefferies Financial Group boosted their target price on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Finally, Morgan Stanley boosted their target price on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Visa presently has a consensus rating of "Moderate Buy" and a consensus price target of $380.84.

Visa Price Performance

V traded down $0.25 on Thursday, reaching $350.10. The stock had a trading volume of 4,987,056 shares, compared to its average volume of 6,288,815. The company has a market capitalization of $641.65 billion, a price-to-earnings ratio of 34.19, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The firm has a 50-day moving average of $348.07 and a 200-day moving average of $347.44. 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 Inc. has a fifty-two week low of $268.23 and a fifty-two week high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.42 earnings per share. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current 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 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 dividend yield of 0.7%. Visa's dividend payout ratio is presently 23.05%.

Insider Activity

In other news, insider Paul D. Fabara sold 11,636 shares of the 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 owned 26,413 shares of the company's stock, valued at approximately $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction dated Tuesday, July 1st. The shares were 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 directly owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,127 shares of company stock valued at $28,340,553. Company 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.