Worth Asset Management LLC Cuts Position in Visa Inc. $V

Key Points

• Worth Asset Management LLC significantly reduced its stake in Visa Inc. by 72.2% in Q2, selling 4,606 shares and leaving them with 1,775 shares valued at approximately $630,000.
• Visa recently reported a $2.98 EPS for the quarter, exceeding estimates, with revenues reaching $10.17 billion, a 14.3% year-over-year increase.
• Brokerage ratings for Visa include 20 buy ratings and a consensus price target of $385.96, reflecting a mostly positive outlook on the stock's performance.

Worth Asset Management LLC lowered its position in shares of Visa Inc. (NYSE:V - Free Report) by 72.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,775 shares of the credit-card processor's stock after selling 4,606 shares during the quarter. Worth Asset Management LLC's holdings in Visa were worth $630,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after buying an additional 6,883 shares during the period. Revolve Wealth Partners LLC raised its stake in Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after buying an additional 4,817 shares during the period. BIP Alliance LLC acquired a new position in shares of Visa in the fourth quarter valued at approximately $392,000. Retirement Planning Group LLC grew its position in shares of Visa by 25.6% in the fourth quarter. Retirement Planning Group LLC now owns 2,744 shares of the credit-card processor's stock valued at $867,000 after purchasing an additional 559 shares during the last quarter. Finally, Vise Technologies Inc. grew its position in shares of Visa by 46.9% in the fourth quarter. Vise Technologies Inc. now owns 29,664 shares of the credit-card processor's stock valued at $9,375,000 after purchasing an additional 9,473 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of NYSE:V traded up $3.89 during mid-day trading on Friday, reaching $342.07. The company had a trading volume of 13,657,860 shares, compared to its average volume of 4,986,314. 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 firm has a market cap of $626.94 billion, a price-to-earnings ratio of 33.41, a PEG ratio of 2.27 and a beta of 0.92. The company's 50-day moving average price is $345.70 and its 200-day moving average price is $346.37. Visa Inc. has a one year low of $268.23 and a one year high of $375.51.

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

Visa Dividend Announcement

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 $0.59 dividend. 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 payout ratio is 23.05%.

Insiders Place Their Bets

In other Visa news, 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 owned 11,925 shares of the company's stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on V shares. Citigroup started coverage on Visa in a research report on Monday, June 2nd. They issued a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft started coverage on Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 price target on the stock. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Barclays reissued an "overweight" rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Finally, UBS Group reissued a "buy" rating and set a $415.00 price target (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $385.96.

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.