AlTi Global Inc. Has $7.67 Million Stock Position in Visa Inc. $V

Key Points

• AlTi Global Inc. has decreased its holdings in Visa Inc. by 15.9%, owning 21,901 shares valued at approximately $7.67 million after selling 4,149 shares.
• Visa recently reported quarterly earnings of $2.98 EPS, exceeding expectations, with revenue hitting $10.17 billion, a 14.3% increase year-over-year.
• The company declared a quarterly dividend of $0.59 per share, reflecting a dividend yield of 0.7% and a payout ratio of 23.05%.

AlTi Global Inc. trimmed its holdings in Visa Inc. (NYSE:V - Free Report) by 15.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,901 shares of the credit-card processor's stock after selling 4,149 shares during the period. AlTi Global Inc.'s holdings in Visa were worth $7,674,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Keystone Global Partners LLC acquired a new position in Visa during the first quarter valued at approximately $26,000. von Borstel & Associates Inc. acquired a new position in Visa during the first quarter valued at approximately $27,000. 1 North Wealth Services LLC acquired a new position in Visa during the first quarter valued at approximately $38,000. Measured Risk Portfolios Inc. acquired a new position in Visa during the fourth quarter valued at approximately $47,000. Finally, O Brien Wealth Partners LLC acquired a new position in Visa during the first quarter valued at approximately $54,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Trading Down 2.3%

Shares of Visa stock traded down $7.98 during trading on Friday, hitting $343.02. The company's stock had a trading volume of 5,447,231 shares, compared to its average volume of 5,060,212. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. 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 $628.67 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 2.34 and a beta of 0.92. The stock has a 50-day moving average price of $348.51 and a two-hundred day moving average price of $347.27.

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 net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter in the previous year, the firm posted $2.42 earnings per share. Visa's revenue for the quarter was up 14.3% on a year-over-year basis. Equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Jefferies Financial Group boosted their price objective on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Citigroup began coverage on shares of Visa in a research note on Monday, June 2nd. They set a "buy" rating on the stock. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Oppenheimer boosted their target price on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $385.96.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the company'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 sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the sale, the insider directly owned 26,413 shares in the company, valued at $9,904,875. This trade represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,293 shares of company stock valued at $8,114,295. 0.13% of the stock is currently owned by insiders.

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.