Visa Inc. $V is Diamant Asset Management Inc.'s 2nd Largest Position

Key Points

• Diamant Asset Management Inc. trimmed its position in Visa Inc. by 2.9% in the second quarter, now holding 28,065 shares, which constitutes around 7.6% of its portfolio.
• Visa's CEO, Ryan Mcinerney, sold 8,630 shares, representing a 94.14% decrease in his ownership, while other insiders also reduced their stakes in the company.
• Analysts remain generally positive about Visa, with the stock receiving an average target price of $385.96 and a "Moderate Buy" rating based on several upgrades and downgrades by investment firms.

Diamant Asset Management Inc. trimmed its position in shares of Visa Inc. (NYSE:V - Free Report) by 2.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,065 shares of the credit-card processor's stock after selling 846 shares during the period. Visa comprises approximately 7.6% of Diamant Asset Management Inc.'s portfolio, making the stock its 2nd biggest holding. Diamant Asset Management Inc.'s holdings in Visa were worth $9,964,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. West Branch Capital LLC increased its position in Visa by 0.8% during the second quarter. West Branch Capital LLC now owns 21,147 shares of the credit-card processor's stock worth $7,508,000 after buying an additional 173 shares during the last quarter. Valicenti Advisory Services Inc. increased its position in Visa by 0.8% during the second quarter. Valicenti Advisory Services Inc. now owns 25,219 shares of the credit-card processor's stock worth $8,954,000 after buying an additional 200 shares during the last quarter. Twelve Points Wealth Management LLC increased its position in Visa by 1.1% during the second quarter. Twelve Points Wealth Management LLC now owns 5,305 shares of the credit-card processor's stock worth $1,884,000 after buying an additional 59 shares during the last quarter. Signaturefd LLC increased its position in Visa by 3.7% during the second quarter. Signaturefd LLC now owns 42,649 shares of the credit-card processor's stock worth $15,142,000 after buying an additional 1,537 shares during the last quarter. Finally, ORG Partners LLC increased its position in Visa by 24.1% during the second quarter. ORG Partners LLC now owns 2,743 shares of the credit-card processor's stock worth $975,000 after buying an additional 532 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Visa

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 transaction of $3,053,466.60. Following the sale, the chief executive officer directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Truist Financial lowered their target price on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Citigroup assumed coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating on the stock. Erste Group Bank downgraded shares of Visa from a "buy" rating to a "hold" rating in a research report on Monday, September 22nd. Macquarie increased their target price on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, UBS Group reaffirmed a "buy" rating and issued a $415.00 price target (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $385.96.

Visa Trading Up 0.7%

Visa stock opened at $337.15 on Monday. 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 business's 50-day simple moving average is $344.65 and its 200-day simple moving average is $346.48. The firm has a market capitalization of $617.93 billion, a PE ratio of 32.92, a PEG ratio of 2.24 and a beta of 0.92. Visa Inc. has a 52 week low of $272.78 and a 52 week high of $375.51.

Visa (NYSE:V - Get Free Report) last posted 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 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 for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.42 earnings per share. Equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa's dividend payout ratio (DPR) is 23.05%.

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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