Visa Inc. $V Stock Holdings Trimmed by Adams Diversified Equity Fund Inc.

Key Points

• Adams Diversified Equity Fund Inc. reduced its holdings in Visa Inc. by 16.4% during the second quarter, owning 116,861 shares after selling 22,900 shares.
• CEO Ryan Mcinerney significantly reduced his stake in the company, selling 10,485 shares, which represents a 95.13% decrease in his position.
• Visa recently announced a quarterly dividend of $0.59 per share, with a current dividend yield of 0.7% and a payout ratio of 23.05%.

Adams Diversified Equity Fund Inc. lessened its position in Visa Inc. (NYSE:V - Free Report) by 16.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 116,861 shares of the credit-card processor's stock after selling 22,900 shares during the period. Visa makes up 1.5% of Adams Diversified Equity Fund Inc.'s holdings, making the stock its 13th largest position. Adams Diversified Equity Fund Inc.'s holdings in Visa were worth $41,491,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Steel Grove Capital Advisors LLC raised its stake in shares of Visa by 10.2% in the 2nd quarter. Steel Grove Capital Advisors LLC now owns 2,206 shares of the credit-card processor's stock worth $783,000 after buying an additional 205 shares in the last quarter. Pacific Heights Asset Management LLC boosted its position in Visa by 1.9% during the second quarter. Pacific Heights Asset Management LLC now owns 54,000 shares of the credit-card processor's stock valued at $19,173,000 after purchasing an additional 1,000 shares during the last quarter. Members Trust Co boosted its position in Visa by 14.7% during the second quarter. Members Trust Co now owns 3,893 shares of the credit-card processor's stock valued at $1,382,000 after purchasing an additional 500 shares during the last quarter. Family Capital Management Inc. boosted its position in Visa by 31.2% during the second quarter. Family Capital Management Inc. now owns 3,246 shares of the credit-card processor's stock valued at $1,152,000 after purchasing an additional 771 shares during the last quarter. Finally, Sterling Investment Management LLC boosted its position in Visa by 11.0% during the second quarter. Sterling Investment Management LLC now owns 12,128 shares of the credit-card processor's stock valued at $4,306,000 after purchasing an additional 1,201 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Insider Activity

In related news, CEO Ryan Mcinerney sold 10,485 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 537 shares of the company's stock, valued at approximately $183,815.10. The trade was a 95.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Visa Price Performance

NYSE V opened at $347.34 on Friday. Visa Inc. has a twelve month low of $280.78 and a twelve month high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $636.60 billion, a PE ratio of 33.92, a P/E/G ratio of 2.05 and a beta of 0.90. The stock has a 50-day simple moving average of $344.79 and a 200 day simple moving average of $347.60.

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

Visa Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa's payout ratio is currently 23.05%.

Analyst Upgrades and Downgrades

V has been the subject of a number of research reports. Oppenheimer lifted their price objective on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Wells Fargo & Company raised Visa to a "strong-buy" rating in a research report on Wednesday. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Visa in a research report on Friday. Finally, Truist Financial reduced their price target on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $392.75.

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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