Visa Inc. $V Shares Sold by SVB Wealth LLC

Key Points

• SVB Wealth LLC reduced its stake in Visa Inc. by 8.5% during the first quarter, now holding 83,297 shares worth approximately $29.2 million.
• Analysts have recently raised their price targets for Visa, with Mizuho's target set at $425.00, while the stock maintains an average price target of $380.84.
• Insider Paul D. Fabara sold 46,214 shares of Visa at an average price of $370.00, marking a 63.63% decrease in his holdings.

SVB Wealth LLC trimmed its stake in shares of Visa Inc. (NYSE:V - Free Report) by 8.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 83,297 shares of the credit-card processor's stock after selling 7,751 shares during the quarter. Visa comprises 1.2% of SVB Wealth LLC's investment portfolio, making the stock its 14th biggest holding. SVB Wealth LLC's holdings in Visa were worth $29,192,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in V. Keystone Global Partners LLC acquired a new stake in Visa during the 1st quarter worth approximately $26,000. von Borstel & Associates Inc. acquired a new stake in Visa during the 1st quarter worth approximately $27,000. Measured Risk Portfolios Inc. acquired a new stake in Visa during the 4th quarter worth approximately $47,000. Navigoe LLC acquired a new stake in shares of Visa in the 4th quarter valued at approximately $53,000. Finally, O Brien Wealth Partners LLC acquired a new stake in shares of Visa in the 1st quarter valued at approximately $54,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on V. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and raised their price target for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Oppenheimer raised their price target on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Piper Sandler raised their price objective on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. BMO Capital Markets raised their price objective on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a report on Thursday, July 17th. They issued a "buy" rating and a $410.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $380.84.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the sale, the insider directly owned 26,413 shares of the company's stock, valued at $9,772,810. The trade was a 63.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business'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 sale, the general counsel directly 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. Over the last 90 days, insiders have sold 77,127 shares of company stock valued at $28,340,553. Corporate insiders own 0.13% of the company's stock.

Visa Stock Up 1.6%

NYSE:V opened at $349.3180 on Friday. The firm has a market capitalization of $640.23 billion, a PE ratio of 34.11, a price-to-earnings-growth ratio of 2.29 and a beta of 0.94. The stock has a 50 day moving average of $347.92 and a 200-day moving average of $347.40. Visa Inc. has a 52 week low of $265.31 and a 52 week high of $375.51. 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 (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 (EPS) 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 return on equity of 58.93% and a net margin of 52.16%.The business's revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.42 earnings per share. Analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's dividend payout ratio is currently 23.05%.

Visa Company 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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