Visa Inc. $V Shares Sold by Greenland Capital Management LP

Key Points

• Greenland Capital Management cut its Visa stake by 56.1% in the second quarter, selling 8,231 shares and retaining 6,449 shares valued at approximately $2.21 million.
• Visa reported quarterly results above expectations, with EPS of $3.32 and revenue of $11.63 billion; revenue increased 14.4% year over year. The company also paid a quarterly dividend of $0.67 per share.
• Analysts remain bullish, with Visa carrying a consensus “Buy” rating and an average price target of $416.62, while insiders have sold $37.5 million in shares over the past 90 days.

Greenland Capital Management LP trimmed its holdings in Visa Inc. (NYSE:V - Free Report) by 56.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,449 shares of the credit-card processor's stock after selling 8,231 shares during the quarter. Greenland Capital Management LP's holdings in Visa were worth $2,213,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Parvin Asset Management LLC grew its holdings in Visa by 200.0% during the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor's stock worth $26,000 after acquiring an additional 50 shares during the period. Philadelphia Investment Partners LLC acquired a new position in Visa in the second quarter valued at approximately $29,000. Virtus Advisers LLC purchased a new stake in Visa in the 2nd quarter worth approximately $33,000. RHL Group LLC purchased a new stake in Visa in the 4th quarter worth approximately $34,000. Finally, Timmons Wealth Management LLC acquired a new stake in shares of Visa during the 4th quarter worth approximately $34,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

NYSE:V opened at $374.46 on Monday. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $385.57. The stock has a 50 day moving average of $363.63 and a two-hundred day moving average of $333.40. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60. The firm has a market cap of $668.20 billion, a P/E ratio of 31.84, a price-to-earnings-growth ratio of 2.01 and a beta of 0.76.

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

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th were issued a $0.67 dividend. The ex-dividend date 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 presently 22.79%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 5,875 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $379.65, for a total value of $2,230,443.75. Following the completion of the sale, the chief executive officer directly owned 15,174 shares in the company, valued at $5,760,809.10. This represents a 27.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie Rottenberg sold 2,028 shares of the firm's stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $381.35, for a total transaction of $773,377.80. Following the completion of the transaction, the general counsel directly owned 18,404 shares in the company, valued at approximately $7,018,365.40. This represents a 9.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 104,537 shares of company stock valued at $37,540,837 in the last 90 days. 0.12% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays started coverage on shares of Visa in a report on Tuesday, July 7th. They set an "overweight" rating and a $420.00 target price for the company. Wells Fargo & Company reissued an "overweight" rating and set a $432.00 price target (up from $412.00) on shares of Visa in a report on Thursday, July 30th. JPMorgan Chase & Co. raised their price target on shares of Visa from $400.00 to $450.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. Citigroup reaffirmed a "buy" rating and issued a $440.00 price objective (up from $400.00) on shares of Visa in a report on Wednesday, July 29th. Finally, BNP Paribas Exane upgraded shares of Visa to a "strong-buy" rating in a research report on Tuesday, July 21st. Seven investment analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the company's stock. According to data from MarketBeat, Visa presently has an average rating of "Buy" and a consensus price target of $416.62.

Visa Profile

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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