Visa Inc. $V Stock Holdings Decreased by Smith Chas P & Associates PA Cpas

Key Points

• Smith Chas P & Associates PA Cpas has decreased its stake in Visa Inc. by 1.0% during the second quarter, now holding 161,068 shares worth approximately $57.2 million.
• Visa reported earnings of $2.98 per share for the last quarter, exceeding analysts' expectations, with a year-over-year revenue increase of 14.3%.
• The company declared a quarterly dividend of $0.59 per share, resulting in an annualized dividend of $2.36 with a yield of 0.7%.

Smith Chas P & Associates PA Cpas lowered its stake in shares of Visa Inc. (NYSE:V - Free Report) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 161,068 shares of the credit-card processor's stock after selling 1,709 shares during the quarter. Visa accounts for about 3.2% of Smith Chas P & Associates PA Cpas' portfolio, making the stock its 8th largest position. Smith Chas P & Associates PA Cpas' holdings in Visa were worth $57,187,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Elser Financial Planning Inc purchased a new stake in shares of Visa during the second quarter worth $255,000. Oakworth Capital Inc. increased its holdings in Visa by 6.0% in the second quarter. Oakworth Capital Inc. now owns 7,368 shares of the credit-card processor's stock valued at $2,616,000 after buying an additional 420 shares during the last quarter. Baron Silver Stevens Financial Advisors LLC increased its holdings in Visa by 10.2% in the second quarter. Baron Silver Stevens Financial Advisors LLC now owns 5,901 shares of the credit-card processor's stock valued at $2,095,000 after buying an additional 548 shares during the last quarter. SWS Partners increased its holdings in Visa by 16.4% in the second quarter. SWS Partners now owns 1,034 shares of the credit-card processor's stock valued at $367,000 after buying an additional 146 shares during the last quarter. Finally, Archford Capital Strategies LLC increased its holdings in Visa by 1.1% in the second quarter. Archford Capital Strategies LLC now owns 46,884 shares of the credit-card processor's stock valued at $16,646,000 after buying an additional 496 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Stock Performance

NYSE V opened at $348.21 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 1 year low of $273.24 and a 1 year high of $375.51. The company has a fifty day moving average of $344.09 and a two-hundred day moving average of $346.52. The company has a market capitalization of $638.20 billion, a PE ratio of 34.01, a P/E/G ratio of 2.27 and a beta of 0.90.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same quarter last year, the company posted $2.42 earnings per share. The business's revenue was up 14.3% on a year-over-year basis. As a group, analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares of the company's stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on V shares. Truist Financial dropped their target price on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Barclays reissued an "overweight" rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. UBS Group reissued a "buy" rating and issued a $415.00 target price (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Morgan Stanley upped their price objective on shares of Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Finally, Erste Group Bank downgraded shares of Visa from a "buy" rating to a "hold" rating in a research note on Monday, September 22nd. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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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