Visa Inc. $V Position Lowered by Riverbridge Partners LLC

Key Points

• Riverbridge Partners LLC reduced its stake in Visa Inc. by 2.8% during the second quarter, holding 165,761 shares worth approximately $58.85 million.
• Major institutional investors, including Vanguard Group and Northern Trust Corp, have increased their holdings in Visa, with total institutional ownership at 82.15%.
• Visa's latest earnings report exceeded expectations, with EPS of $2.98 against a forecast of $2.85, and revenue of $10.17 billion compared to an estimate of $9.82 billion.

Riverbridge Partners LLC trimmed its position in Visa Inc. (NYSE:V - Free Report) by 2.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 165,761 shares of the credit-card processor's stock after selling 4,787 shares during the period. Riverbridge Partners LLC's holdings in Visa were worth $58,853,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Visa by 1.1% in 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 during the last quarter. Northern Trust Corp grew its stake in Visa by 4.0% during the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock worth $6,654,189,000 after buying an additional 726,299 shares during the last quarter. GAMMA Investing LLC increased its position in Visa by 38,416.3% in the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock worth $5,173,271,000 after buying an additional 14,723,050 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock valued at $5,003,569,000 after buying an additional 955,392 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Visa by 3.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor's stock valued at $4,442,157,000 after acquiring an additional 434,217 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Wall Street Analysts Forecast Growth

V has been the topic of several analyst reports. Oppenheimer raised their target price on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a report on Thursday, July 17th. They set a "buy" rating and a $410.00 price target on the stock. Truist Financial reduced their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. UBS Group reissued a "buy" rating and set a $415.00 target price (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Finally, Barclays reissued an "overweight" rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $385.96.

Visa Price Performance

NYSE V opened at $335.09 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $614.15 billion, a P/E ratio of 32.72, a price-to-earnings-growth ratio of 2.25 and a beta of 0.92. The stock's 50-day moving average is $344.89 and its two-hundred day moving average is $346.22. Visa Inc. has a fifty-two week low of $270.00 and a fifty-two week high of $375.51.

Visa (NYSE:V - Get Free Report) last announced its 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 firm had revenue of $10.17 billion for 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 business's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.42 EPS. On average, analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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%.

Insider Activity

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel 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 filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

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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