Visa (NYSE:V) General Counsel Julie Rottenberg Sells 2,027 Shares

Key Points

• Julie Rottenberg, General Counsel of Visa, sold 2,027 shares for $697,328.54, reducing her stake by 14.53%.
• Visa reported a quarterly EPS of $2.98, exceeding estimates, with revenue of $10.17 billion, up 14.3% year-over-year.
• The company recently declared a $0.59 quarterly dividend, with a dividend yield of 0.7% and a payout ratio of 23.05%.

Visa Inc. (NYSE:V - Get Free Report) General Counsel Julie Rottenberg sold 2,027 shares of the company'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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Visa Stock Down 0.1%

NYSE:V traded down $0.23 during trading hours on Tuesday, reaching $342.51. 4,456,144 shares of the stock were exchanged, compared to its average volume of 6,584,295. Visa Inc. has a twelve month low of $265.31 and a twelve month high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a 50 day moving average of $349.69 and a 200 day moving average of $347.45. The stock has a market cap of $627.75 billion, a PE ratio of 33.45, a PEG ratio of 2.29 and a beta of 0.94.

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 (EPS) for the quarter, beating 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 company had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same period last year, the company earned $2.42 earnings per share. The firm's revenue was up 14.3% compared to the same quarter last year. On average, equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be issued a $0.59 dividend. The ex-dividend date is 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 23.05%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on V. UBS Group reiterated 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. Piper Sandler boosted their target price on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Raymond James Financial restated an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Truist Financial lowered their target price on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Finally, William Blair restated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $380.84.

Institutional Investors Weigh In On Visa

Several large investors have recently made changes to their positions in the business. Lakeridge Wealth Management LLC increased its holdings in Visa by 5.7% in the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after acquiring an additional 81 shares during the last quarter. Blue Rock Wealth Management LLC purchased a new position in Visa during the 4th quarter valued at about $306,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Visa by 14.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock valued at $159,523,000 after buying an additional 57,800 shares in the last quarter. Aptus Capital Advisors LLC grew its holdings in Visa by 19.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock valued at $57,727,000 after buying an additional 30,185 shares in the last quarter. Finally, Eagle Strategies LLC grew its holdings in Visa by 2.5% during the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock valued at $811,000 after buying an additional 63 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

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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