Visa Inc. $V is SRN Advisors LLC's 2nd Largest Position

Key Points

• SRN Advisors LLC reduced its stake in Visa Inc. by 23.2% in the first quarter, owning 7,471 shares after selling 2,251 shares.
• Visa's CEO, Ryan Mcinerney, sold 8,630 shares of the company stock, representing a 94.14% decrease in his ownership.
• Several analysts have upgraded Visa's stock rating, with Mizuho increasing the target price from $359.00 to $425.00, and consensus ratings showing a Moderate Buy outlook.

SRN Advisors LLC decreased its holdings in Visa Inc. (NYSE:V - Free Report) by 23.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,471 shares of the credit-card processor's stock after selling 2,251 shares during the quarter. Visa accounts for about 2.9% of SRN Advisors LLC's investment portfolio, making the stock its 2nd largest position. SRN Advisors LLC's holdings in Visa were worth $2,618,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Pinnacle Wealth Planning Services Inc. lifted its position in Visa by 1.0% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 12,071 shares of the credit-card processor's stock valued at $4,230,000 after purchasing an additional 123 shares in the last quarter. Panagora Asset Management Inc. grew its stake in shares of Visa by 8.5% during the 1st quarter. Panagora Asset Management Inc. now owns 943,600 shares of the credit-card processor's stock valued at $330,694,000 after acquiring an additional 73,871 shares during the period. Activest Wealth Management increased its holdings in Visa by 60.9% in the 1st quarter. Activest Wealth Management now owns 687 shares of the credit-card processor's stock worth $241,000 after acquiring an additional 260 shares in the last quarter. Evergreen Capital Management LLC raised its stake in Visa by 1.6% during the 1st quarter. Evergreen Capital Management LLC now owns 22,528 shares of the credit-card processor's stock worth $7,895,000 after acquiring an additional 345 shares during the period. Finally, GKV Capital Management Co. Inc. lifted its holdings in Visa by 0.5% during the first quarter. GKV Capital Management Co. Inc. now owns 17,005 shares of the credit-card processor's stock valued at $5,960,000 after purchasing an additional 80 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Trading Up 0.6%

NYSE V traded up $2.06 during trading hours on Friday, hitting $351.92. 3,670,969 shares of the company were exchanged, compared to its average volume of 5,856,767. The stock has a 50-day moving average price of $348.35 and a 200 day moving average price of $347.36. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 52 week low of $268.23 and a 52 week high of $375.51. The stock has a market cap of $645.00 billion, a PE ratio of 34.37, a price-to-earnings-growth ratio of 2.34 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same period in the previous year, the firm posted $2.42 earnings per share. The firm's revenue for the quarter was up 14.3% on a year-over-year basis. Analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa's payout ratio is presently 23.05%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on V. Truist Financial dropped their target price 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. Macquarie increased their price objective on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Oppenheimer boosted 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. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Finally, Barclays reissued an "overweight" rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $380.84.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares of the company's stock, valued at $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's 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 completion of the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 77,127 shares of company stock valued at $28,340,553 over the last ninety days. 0.13% of the stock is owned by insiders.

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.