Visa Inc. $V Shares Sold by RNC Capital Management LLC

Key Points

• RNC Capital Management LLC sold 11,160 shares of Visa Inc., reducing its holdings by 34.3%, leaving it with 21,398 shares valued at approximately $7.5 million as of the latest reporting period.
• Insider trading activity showed that both CEO Ryan Mcinerney and insider Paul D. Fabara significantly reduced their shareholdings, with Mcinerney's ownership dropping by 94.14%.
• Visa reported a 14.3% year-over-year revenue increase to $10.17 billion and beat earnings expectations with an EPS of $2.98, surpassing the consensus estimate of $2.85.

RNC Capital Management LLC decreased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 34.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,398 shares of the credit-card processor's stock after selling 11,160 shares during the period. RNC Capital Management LLC's holdings in Visa were worth $7,499,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Keystone Global Partners LLC acquired a new position in Visa during the 1st quarter worth approximately $26,000. von Borstel & Associates Inc. purchased a new position in shares of Visa during the 1st quarter worth $27,000. 1 North Wealth Services LLC purchased a new position in shares of Visa in the 1st quarter worth $38,000. Measured Risk Portfolios Inc. purchased a new position in Visa in the fourth quarter valued at about $47,000. Finally, O Brien Wealth Partners LLC purchased a new position in Visa in the first quarter valued at about $54,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Insider Activity 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 transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction dated 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 completion of the sale, the insider owned 26,413 shares of the company's stock, valued at approximately $9,904,875. This represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,293 shares of company stock worth $8,114,295 in the last quarter. Company insiders own 0.13% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on V. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research note on Thursday, July 17th. They set a "buy" rating and a $410.00 target price for the company. The Goldman Sachs Group began coverage on Visa in a report on Monday, June 2nd. They set a "neutral" rating on the stock. Oppenheimer boosted their target price on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Barclays restated an "overweight" rating and issued a $408.00 price target (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Finally, Jefferies Financial Group lifted their price target on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Visa has a consensus rating of "Moderate Buy" and a consensus price target of $385.96.

Visa Price Performance

Shares of Visa stock opened at $343.02 on Monday. Visa Inc. has a twelve month low of $268.23 and a twelve month high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a 50-day simple moving average of $348.51 and a two-hundred day simple moving average of $347.19. The stock has a market capitalization of $628.67 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 2.28 and a beta of 0.92.

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 (EPS) for the quarter, beating 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 analyst estimates of $9.82 billion. During the same period in the previous year, the firm posted $2.42 EPS. The firm's revenue was up 14.3% on a year-over-year basis. Analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors 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 dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's payout ratio is presently 23.05%.

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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