Visa Inc. $V Shares Sold by Hamilton Capital Partners LLC

Key Points

• Hamilton Capital Partners LLC significantly reduced its stake in Visa Inc. by 90.5%, selling 20,394 shares during the second quarter, leaving them with only 2,143 shares valued at approximately $761,000.
• Several other hedge funds slightly increased their holdings in Visa, with 82.15% of the stock currently owned by institutional investors.
• Visa reported earnings of $2.98 per share for the last quarter, surpassing analyst expectations, while also announcing a quarterly dividend of $0.59 per share.

Hamilton Capital Partners LLC decreased its stake in Visa Inc. (NYSE:V - Free Report) by 90.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,143 shares of the credit-card processor's stock after selling 20,394 shares during the period. Visa makes up 0.4% of Hamilton Capital Partners LLC's investment portfolio, making the stock its 15th largest holding. Hamilton Capital Partners LLC's holdings in Visa were worth $761,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. JLB & Associates Inc. increased its holdings in Visa by 0.5% during the 2nd quarter. JLB & Associates Inc. now owns 16,079 shares of the credit-card processor's stock valued at $5,709,000 after acquiring an additional 81 shares in the last quarter. Halbert Hargrove Global Advisors LLC increased its holdings in Visa by 75.8% during the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 749 shares of the credit-card processor's stock valued at $266,000 after acquiring an additional 323 shares in the last quarter. Poinciana Advisors Group LLC increased its holdings in Visa by 8.3% during the 2nd quarter. Poinciana Advisors Group LLC now owns 690 shares of the credit-card processor's stock valued at $245,000 after acquiring an additional 53 shares in the last quarter. G&S Capital LLC increased its holdings in Visa by 1,052.0% during the 2nd quarter. G&S Capital LLC now owns 7,396 shares of the credit-card processor's stock valued at $2,626,000 after acquiring an additional 6,754 shares in the last quarter. Finally, Capital Investment Advisors LLC increased its holdings in Visa by 10.8% during the 2nd quarter. Capital Investment Advisors LLC now owns 56,279 shares of the credit-card processor's stock valued at $19,982,000 after acquiring an additional 5,467 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred 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 transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

Visa Price Performance

Visa stock opened at $345.97 on Friday. The company has a market cap of $634.09 billion, a price-to-earnings ratio of 33.79, a PEG ratio of 2.06 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 1 year low of $273.24 and a 1 year high of $375.51. The firm has a 50 day moving average price of $343.92 and a 200 day moving average price of $346.60.

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

Visa Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. 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. Oppenheimer raised their target price on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Finally, UBS Group reiterated a "buy" rating and set a $415.00 price target (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $385.96.

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.

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