Visa Inc. $V Position Decreased by Insight Inv LLC

Key Points

• Insight Investment LLC significantly reduced its holdings in Visa Inc. by 89.7%, selling 13,487 shares and now owning 1,542 shares valued at $547,000.
• Visa reported quarterly earnings of $2.98 EPS, exceeding analysts' expectations of $2.85, and revenues of $10.17 billion, up 14.3% year-over-year.
• Several research analysts maintain a positive outlook for Visa, with a consensus target price of $389.00, reflecting a "Moderate Buy" rating from multiple firms.

Insight Inv LLC decreased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 89.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,542 shares of the credit-card processor's stock after selling 13,487 shares during the period. Insight Inv LLC's holdings in Visa were worth $547,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Armstrong Fleming & Moore Inc acquired a new position in shares of Visa in the second quarter worth about $282,000. Allegiance Financial Group Advisory Services LLC boosted its holdings in shares of Visa by 5.2% in the second quarter. Allegiance Financial Group Advisory Services LLC now owns 2,644 shares of the credit-card processor's stock worth $939,000 after buying an additional 131 shares during the period. Hager Investment Management Services LLC boosted its holdings in shares of Visa by 3.3% in the second quarter. Hager Investment Management Services LLC now owns 5,459 shares of the credit-card processor's stock worth $1,938,000 after buying an additional 176 shares during the period. Values Added Financial LLC boosted its holdings in shares of Visa by 18.8% in the second quarter. Values Added Financial LLC now owns 2,919 shares of the credit-card processor's stock worth $1,036,000 after buying an additional 461 shares during the period. Finally, Cornerstone Enterprises LLC acquired a new position in shares of Visa in the second quarter worth about $4,026,000. Institutional investors own 82.15% of the company's stock.

Visa Stock Performance

V stock opened at $343.63 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 stock has a market cap of $629.79 billion, a P/E ratio of 33.56, a P/E/G ratio of 2.03 and a beta of 0.90. The firm has a 50 day simple moving average of $343.77 and a 200 day simple moving average of $346.97. Visa Inc. has a 52 week low of $275.37 and a 52 week high of $375.51.

Visa (NYSE:V - Get Free Report) last posted its quarterly 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. The business had revenue of $10.17 billion during the quarter, compared to analysts' expectations 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 period last year, the company posted $2.42 earnings per share. Research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were paid a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa's payout ratio is 23.05%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on V shares. UBS Group reiterated a "buy" rating and issued a $415.00 target price (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Oppenheimer raised their target price on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a report on Thursday, July 17th. They issued a "buy" rating and a $410.00 target price for the company. Finally, Macquarie raised their target price on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Visa currently has an average rating of "Moderate Buy" and a consensus target price of $389.00.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa 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 completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on Wednesday, October 1st. The shares were 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 of the company's stock, valued at $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

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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