Visa Inc. $V Position Trimmed by Anchor Capital Advisors LLC

Key Points

• Anchor Capital Advisors cut its Visa position by 4.9% in the second quarter, selling 2,882 shares and retaining 55,382 shares valued at approximately $19.0 million. Institutional investors collectively own 82.15% of Visa.
• Visa insiders sold 104,537 shares worth about $37.5 million over the past three months, including sizable sales by CEO Ryan McInerney and another insider.
• Visa reported better-than-expected quarterly results, with EPS of $3.32 and revenue of $11.63 billion, while analysts maintain a consensus “Buy” rating and an average price target of $416.62. The company also pays a quarterly dividend of $0.67 per share.

Anchor Capital Advisors LLC decreased its holdings in Visa Inc. (NYSE:V - Free Report) by 4.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,382 shares of the credit-card processor's stock after selling 2,882 shares during the period. Anchor Capital Advisors LLC's holdings in Visa were worth $19,001,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in V. Brighton Jones LLC lifted its stake in shares of Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after purchasing an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC increased its position in Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after buying an additional 4,817 shares during the last quarter. Nicholas Hoffman & Company LLC. increased its position in Visa by 4.6% during the first quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor's stock worth $3,834,000 after buying an additional 477 shares during the last quarter. Matrix Asset Advisors Inc. NY raised its holdings in Visa by 16.9% during the second quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor's stock valued at $402,000 after buying an additional 164 shares in the last quarter. Finally, Schnieders Capital Management LLC. raised its holdings in Visa by 13.8% during the second quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor's stock valued at $6,521,000 after buying an additional 2,230 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 20,970 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $340.25, for a total value of $7,135,042.50. Following the completion of the sale, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,162,953.50. This trade represents a 58.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tullier Mahon sold 57,272 shares of Visa stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $364.97, for a total value of $20,902,561.84. Following the sale, the insider directly owned 49,662 shares in the company, valued at $18,125,140.14. The trade was a 53.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 104,537 shares of company stock worth $37,540,837 over the last three months. Company insiders own 0.12% of the company's stock.

Visa Trading Down 0.2%

Shares of Visa stock opened at $374.46 on Tuesday. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $385.57. The company's fifty day simple moving average is $364.28 and its 200-day simple moving average is $333.79. The company has a market cap of $668.20 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 2.01 and a beta of 0.76. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 EPS for the quarter, beating the consensus estimate of $3.23 by $0.09. Visa had a net margin of 50.78% and a return on equity of 67.68%. The firm had revenue of $11.63 billion during the quarter, compared to analysts' expectations of $11.40 billion. During the same period in the prior year, the company earned $2.98 EPS. The business's quarterly revenue was up 14.4% compared to the same quarter last year. As a group, sell-side analysts expect that Visa Inc. will post 13.16 EPS for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. Visa's dividend payout ratio (DPR) is 22.79%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on V. Raymond James Financial reiterated an "outperform" rating and set a $406.00 price target on shares of Visa in a research note on Wednesday, July 29th. Barclays started coverage on Visa in a report on Tuesday, July 7th. They issued an "overweight" rating and a $420.00 target price for the company. Weiss Ratings raised Visa from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, July 30th. Robert W. Baird increased their price target on Visa from $412.00 to $420.00 and gave the company an "outperform" rating in a report on Wednesday, July 29th. Finally, Erste Group Bank raised shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday, July 27th. Seven research analysts have rated the stock with a Strong Buy rating and twenty-four have assigned a Buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $416.62.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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