Visa Inc. $V Shares Sold by Turn8 Private Wealth Inc.

Key Points

• Turn8 Private Wealth Inc. reduced its stake in Visa Inc. by 20.2%, holding 9,473 shares after selling 2,399 shares in Q1, with Visa comprising 2.6% of its portfolio.
• Visa reported a Q2 earnings per share (EPS) of $2.98, exceeding estimates of $2.85, along with a 14.3% year-over-year revenue increase to $10.17 billion.
• The company declared a quarterly dividend of $0.59 per share, resulting in an annualized dividend yield of 0.7% and a payout ratio of 23.05%.

Turn8 Private Wealth Inc. cut its stake in Visa Inc. (NYSE:V - Free Report) by 20.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,473 shares of the credit-card processor's stock after selling 2,399 shares during the quarter. Visa comprises about 2.6% of Turn8 Private Wealth Inc.'s investment portfolio, making the stock its 17th biggest position. Turn8 Private Wealth Inc.'s holdings in Visa were worth $3,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in V. GAMMA Investing LLC increased its position in shares of Visa by 38,416.3% during the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock worth $5,173,271,000 after acquiring an additional 14,723,050 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Visa during the first quarter worth about $3,518,533,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Visa during the fourth quarter worth about $673,689,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Visa by 14.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,321,754 shares of the credit-card processor's stock worth $4,210,207,000 after acquiring an additional 1,723,785 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Visa by 1.1% during the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock worth $56,452,949,000 after acquiring an additional 1,677,088 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Truist Financial dropped their target price on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Jefferies Financial Group lifted their target price on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. The Goldman Sachs Group initiated coverage on Visa in a report on Monday, June 2nd. They issued a "neutral" rating for the company. Finally, UBS Group reissued a "buy" rating and issued a $415.00 price objective (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Visa has a consensus rating of "Moderate Buy" and a consensus price target of $385.96.

Visa Stock Performance

V stock traded down $4.16 during midday trading on Friday, reaching $339.33. The company had a trading volume of 3,516,759 shares, compared to its average volume of 4,916,709. 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 stock has a 50 day moving average price of $347.03 and a 200 day moving average price of $346.94. Visa Inc. has a fifty-two week low of $268.23 and a fifty-two week high of $375.51. The firm has a market capitalization of $621.92 billion, a PE ratio of 33.14, a P/E/G ratio of 2.29 and a beta of 0.92.

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

Visa Announces Dividend

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

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $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 the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% 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 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.