Visa Inc. $V Shares Sold by Portfolio Design Labs LLC

Portfolio Design Labs LLC decreased its holdings in shares of Visa Inc. (NYSE:V) by 10.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,756 shares of the credit-card processor’s stock after selling 2,056 shares during the period. Visa comprises about 1.0% of Portfolio Design Labs LLC’s portfolio, making the stock its 20th largest holding. Portfolio Design Labs LLC’s holdings in Visa were worth $6,092,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of V. Cresta Advisors Ltd. acquired a new position in shares of Visa in the 4th quarter valued at about $26,000. Parvin Asset Management LLC lifted its holdings in Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after acquiring an additional 50 shares during the last quarter. RHL Group LLC bought a new position in Visa in the fourth quarter worth about $34,000. Timmons Wealth Management LLC acquired a new position in Visa in the fourth quarter valued at approximately $34,000. Finally, Copos Capital S.a r.l. acquired a new position in Visa in the fourth quarter valued at approximately $35,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on V. Oppenheimer reiterated an “outperform” rating and set a $403.00 price target (up from $391.00) on shares of Visa in a research report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $430.00 price objective on shares of Visa in a research note on Wednesday, July 29th. Wolfe Research reaffirmed an “outperform” rating and issued a $435.00 target price (up from $430.00) on shares of Visa in a research report on Wednesday, July 29th. Raymond James Financial reiterated an “outperform” rating and issued a $406.00 target price on shares of Visa in a research note on Wednesday, July 29th. Finally, BMO Capital Markets upped their price target on shares of Visa from $387.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Seven investment analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the company. According to data from MarketBeat, Visa currently has a consensus rating of “Buy” and a consensus price target of $413.58.

Visa Trading Up 0.2%

Shares of Visa stock opened at $366.31 on Friday. The business has a fifty day simple moving average of $352.75 and a 200-day simple moving average of $329.35. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $373.97. The firm has a market cap of $653.65 billion, a price-to-earnings ratio of 31.15, a price-to-earnings-growth ratio of 1.96 and a beta of 0.74. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.60.

Visa (NYSE:V) last released its earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.09. Visa had a return on equity of 67.68% and a net margin of 50.78%.The firm had revenue of $11.63 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same period in the previous year, the company earned $2.98 earnings per share. Visa’s revenue was up 14.4% compared to the same quarter last year. On average, equities analysts forecast that Visa Inc. will post 13.16 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 11th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $2.68 annualized dividend and a dividend yield of 0.7%. Visa’s payout ratio is currently 22.79%.

Visa announced that its board has authorized a stock repurchase program on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total value of $729,720.00. Following the sale, the general counsel directly owned 18,404 shares in the company, valued at $6,625,440. The trade was a 9.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 20,970 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $340.25, for a total transaction of $7,135,042.50. Following the sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,162,953.50. This represents a 58.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 90,759 shares of company stock valued at $32,375,779 in the last quarter. Insiders own 0.12% of the company’s stock.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.