Visa Inc. (NYSE:V) Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. trimmed its stake in shares of Visa Inc. (NYSE:V) by 11.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,641,319 shares of the credit-card processor’s stock after selling 486,241 shares during the quarter. Visa accounts for 0.8% of 1832 Asset Management L.P.’s holdings, making the stock its 9th largest holding. 1832 Asset Management L.P. owned about 0.20% of Visa worth $955,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Quest Investment Management LLC lifted its holdings in Visa by 0.8% during the 2nd quarter. Quest Investment Management LLC now owns 59,659 shares of the credit-card processor’s stock worth $15,659,000 after buying an additional 482 shares during the last quarter. Frank Rimerman Advisors LLC increased its position in Visa by 21,918.0% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 28,183 shares of the credit-card processor’s stock valued at $7,397,000 after acquiring an additional 28,055 shares during the period. ProShare Advisors LLC increased its position in Visa by 4.9% in the 2nd quarter. ProShare Advisors LLC now owns 468,804 shares of the credit-card processor’s stock valued at $123,047,000 after acquiring an additional 22,009 shares during the period. Kowal Investment Group LLC increased its position in Visa by 2.0% in the 2nd quarter. Kowal Investment Group LLC now owns 5,431 shares of the credit-card processor’s stock valued at $1,426,000 after acquiring an additional 109 shares during the period. Finally, Merriman Wealth Management LLC increased its position in Visa by 3.6% in the 2nd quarter. Merriman Wealth Management LLC now owns 1,524 shares of the credit-card processor’s stock valued at $400,000 after acquiring an additional 53 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $284.77 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a one year low of $227.78 and a one year high of $293.07. The company’s 50-day simple moving average is $270.65 and its 200-day simple moving average is $273.45. The stock has a market capitalization of $520.83 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 2.05 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter last year, the company posted $2.16 earnings per share. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.73%. Visa’s dividend payout ratio is currently 23.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on V shares. The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 target price on shares of Visa in a research report on Thursday, September 12th. Royal Bank of Canada reduced their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. William Blair raised Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Citigroup reduced their price target on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, Piper Sandler dropped their price objective on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $310.22.

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.