Visa Inc. $V Shares Sold by Bridges Investment Management Inc.

Key Points

• Bridges Investment Management Inc. reduced its holdings in Visa Inc. by 1.8% during Q2, now owning 420,172 shares valued at approximately $149.2 million, making Visa the 14th largest holding in their portfolio.
• Visa's stock price saw an increase of 1.9%, trading at $341.90, with analysts predicting a price target range from $389 to $425, indicating a strong overall outlook on the stock.
• The company recently announced a quarterly dividend of $0.59, resulting in an annualized dividend yield of 0.7%, underscoring its financial strength with a low dividend payout ratio of 23.05%.

Bridges Investment Management Inc. decreased its position in Visa Inc. (NYSE:V - Free Report) by 1.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 420,172 shares of the credit-card processor's stock after selling 7,598 shares during the period. Visa comprises approximately 2.0% of Bridges Investment Management Inc.'s portfolio, making the stock its 14th biggest holding. Bridges Investment Management Inc.'s holdings in Visa were worth $149,182,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Callahan Advisors LLC boosted its stake in shares of Visa by 4.1% during the second quarter. Callahan Advisors LLC now owns 9,239 shares of the credit-card processor's stock valued at $3,280,000 after acquiring an additional 360 shares during the last quarter. Uptick Partners LLC boosted its stake in shares of Visa by 28.0% during the second quarter. Uptick Partners LLC now owns 3,323 shares of the credit-card processor's stock valued at $1,180,000 after acquiring an additional 726 shares during the last quarter. Keeler & Nadler Financial Planning & Wealth Management boosted its stake in shares of Visa by 283.2% during the second quarter. Keeler & Nadler Financial Planning & Wealth Management now owns 2,962 shares of the credit-card processor's stock valued at $1,052,000 after acquiring an additional 2,189 shares during the last quarter. Dock Street Asset Management Inc. boosted its stake in shares of Visa by 3.8% during the second quarter. Dock Street Asset Management Inc. now owns 164,210 shares of the credit-card processor's stock valued at $58,303,000 after acquiring an additional 5,953 shares during the last quarter. Finally, Generali Asset Management SPA SGR boosted its stake in shares of Visa by 0.9% during the second quarter. Generali Asset Management SPA SGR now owns 141,885 shares of the credit-card processor's stock valued at $50,376,000 after acquiring an additional 1,197 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on V shares. Macquarie increased their price objective on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Visa in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a research note on Thursday, July 17th. They set a "buy" rating and a $410.00 price objective on the stock. Truist Financial decreased their price target on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Finally, Morgan Stanley raised their price target on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Visa has an average rating of "Moderate Buy" and a consensus price target of $389.00.

Visa Stock Up 1.9%

Shares of NYSE:V opened at $341.90 on Monday. The stock's 50-day moving average price is $344.30 and its two-hundred day moving average price is $346.89. The firm has a market cap of $626.63 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 2.03 and a beta of 0.90. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 12-month low of $280.78 and a 12-month high of $375.51.

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

Visa Announces Dividend

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

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at $183,815.10. This trade represents a 95.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

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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