Visa Inc. $V Shares Sold by Wilmington Savings Fund Society FSB

Key Points

• Wilmington Savings Fund Society FSB reduced its holdings in Visa Inc. by 5.3%, now owning 111,368 shares, valued at approximately $39.54 million.
• Visa reported strong quarterly earnings with $2.98 earnings per share, surpassing analysts' expectations and achieving a 14.3% increase in revenue year-over-year.
• The company recently declared a quarterly dividend of $0.59 per share, yielding around 0.7%, with a dividend payout ratio of 23.05%.

Wilmington Savings Fund Society FSB decreased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 5.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 111,368 shares of the credit-card processor's stock after selling 6,176 shares during the period. Visa makes up approximately 0.7% of Wilmington Savings Fund Society FSB's holdings, making the stock its 28th largest position. Wilmington Savings Fund Society FSB's holdings in Visa were worth $39,541,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Visa by 1.1% in the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock valued at $56,452,949,000 after purchasing an additional 1,677,088 shares during the period. Northern Trust Corp lifted its position in Visa by 4.0% in the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock valued at $6,654,189,000 after purchasing an additional 726,299 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock valued at $5,003,569,000 after purchasing an additional 955,392 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Visa by 3.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor's stock valued at $4,442,157,000 after purchasing an additional 434,217 shares during the period. Finally, Wellington Management Group LLP lifted its position in Visa by 17.7% in the first quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor's stock valued at $3,847,953,000 after purchasing an additional 1,651,954 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Price Performance

V stock opened at $341.90 on Friday. The firm has a 50 day moving average of $344.30 and a 200-day moving average of $346.83. Visa Inc. has a 12-month low of $280.78 and a 12-month 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. The company has a market cap of $626.63 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 1.99 and a beta of 0.90.

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 for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. During the same period last year, the company posted $2.42 EPS. The company's revenue was up 14.3% on a year-over-year basis. As a group, equities analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were paid 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 of this dividend was Tuesday, August 12th. Visa's dividend payout ratio (DPR) is 23.05%.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's 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 completion of the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The stock was 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 of the company's stock, 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. Company insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

V has been the subject of a number of recent analyst reports. UBS Group restated a "buy" rating and issued a $415.00 price objective (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Robert W. Baird set a $410.00 price objective on shares of Visa and gave the company an "outperform" rating in a research report on Monday, October 6th. Weiss Ratings restated a "buy (b)" rating on shares of Visa in a research report on Wednesday, October 8th. Barclays reiterated an "overweight" rating and set a $408.00 price target (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $389.00.

About Visa

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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