Visa Inc. $V is S Bank Fund Management Ltd's 6th Largest Position

Key Points

• S Bank Fund Management Ltd has reduced its stake in Visa Inc. by 14.4%, now holding 45,620 shares, making Visa its 6th largest position.
• Visa's latest quarterly earnings report showed earnings per share of $2.98, beating expectations, with a revenue increase of 14.3% from the previous year.
• Analysts have set new price targets for Visa, with Deutsche Bank initiating coverage at $410 and Barclays increasing their target to $408.

S Bank Fund Management Ltd reduced its position in shares of Visa Inc. (NYSE:V - Free Report) by 14.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,620 shares of the credit-card processor's stock after selling 7,652 shares during the period. Visa accounts for approximately 2.4% of S Bank Fund Management Ltd's portfolio, making the stock its 6th largest position. S Bank Fund Management Ltd's holdings in Visa were worth $16,197,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of V. Yeomans Consulting Group Inc. raised its stake in Visa by 2.9% in the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock worth $360,000 after buying an additional 29 shares in the last quarter. Semus Wealth Partners LLC raised its stake in Visa by 0.8% in the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock worth $1,209,000 after buying an additional 29 shares in the last quarter. BankPlus Wealth Management LLC raised its stake in Visa by 0.9% in the second quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor's stock worth $1,185,000 after buying an additional 29 shares in the last quarter. Transcendent Capital Group LLC raised its stake in Visa by 2.9% in the second quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor's stock worth $360,000 after buying an additional 29 shares in the last quarter. Finally, Wood Tarver Financial Group LLC raised its stake in Visa by 11.1% in the first quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor's stock worth $105,000 after buying an additional 30 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the sale, the chief executive officer owned 537 shares in the company, 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 owned by company insiders.

Visa Price Performance

Shares of V opened at $341.90 on Monday. The company has a market capitalization of $626.63 billion, a P/E ratio of 33.39, a price-to-earnings-growth ratio of 2.03 and a beta of 0.90. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average of $344.30 and a 200 day moving average of $346.89. Visa Inc. has a twelve month low of $280.78 and a twelve month high of $375.51.

Visa (NYSE:V - Get Free Report) last announced 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 the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm's quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.42 earnings per share. As a group, equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 0.7%. Visa's dividend payout ratio (DPR) is 23.05%.

Analysts Set New Price Targets

V has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Visa in a research note on Thursday, July 17th. They issued a "buy" rating and a $410.00 price target for the company. Barclays reaffirmed an "overweight" rating and set a $408.00 target price (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Truist Financial decreased their target price on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Morgan Stanley raised their target price on shares of Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Visa in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $389.00.

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.

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