Visa Inc. $V Shares Sold by First Long Island Investors LLC

Key Points

• First Long Island Investors LLC reduced its holdings in Visa by 9.1% during Q1, selling 10,230 shares, resulting in ownership of 101,656 shares worth $35.6 million.
• Visa's CEO Ryan Mcinerney sold 8,630 shares, marking a 94.14% decrease in his position, while overall insider ownership stands at 0.13%.
• Analysts maintain a consensus rating of "Moderate Buy" for Visa with a current price target of $385.96, following reports of strong quarterly earnings exceeding estimates.

First Long Island Investors LLC lowered its holdings in Visa Inc. (NYSE:V - Free Report) by 9.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 101,656 shares of the credit-card processor's stock after selling 10,230 shares during the period. Visa makes up 2.9% of First Long Island Investors LLC's holdings, making the stock its 10th biggest holding. First Long Island Investors LLC's holdings in Visa were worth $35,626,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Keystone Global Partners LLC acquired a new position in shares of Visa in the first quarter valued at approximately $26,000. von Borstel & Associates Inc. acquired a new position in Visa during the 1st quarter worth approximately $27,000. 1 North Wealth Services LLC acquired a new position in Visa during the 1st quarter worth approximately $38,000. Anderson Financial Strategies LLC acquired a new position in Visa during the 1st quarter worth approximately $53,000. Finally, O Brien Wealth Partners LLC acquired a new position in Visa during the 1st quarter worth approximately $54,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Insider Activity at Visa

In related 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 value of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's 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 completion of the sale, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

V has been the subject of several analyst reports. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Truist Financial lowered their price target 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. Barclays reiterated an "overweight" rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Oppenheimer boosted their price target on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Finally, Citigroup initiated coverage on shares of Visa in a report on Monday, June 2nd. They set a "buy" rating for the company. One 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $385.96.

Visa Stock Up 1.5%

Shares of NYSE:V opened at $343.28 on Friday. The company has a market capitalization of $629.16 billion, a PE ratio of 33.52, a P/E/G ratio of 2.25 and a beta of 0.92. 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 twelve month low of $268.23 and a twelve month high of $375.51. The firm has a 50 day simple moving average of $347.41 and a 200-day simple moving average of $347.03.

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. The business had revenue of $10.17 billion during 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 company's revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.42 EPS. On average, equities analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

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

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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