Delap Wealth Advisory LLC Reduces Stock Holdings in Visa Inc. (NYSE:V)

Delap Wealth Advisory LLC lessened its holdings in shares of Visa Inc. (NYSE:V) by 70.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 958 shares of the credit-card processor’s stock after selling 2,270 shares during the period. Delap Wealth Advisory LLC’s holdings in Visa were worth $251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Livelsberger Financial Advisory acquired a new stake in shares of Visa during the 4th quarter worth approximately $25,000. Westend Capital Management LLC purchased a new stake in Visa during the first quarter worth $25,000. POM Investment Strategies LLC grew its position in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the period. Frank Rimerman Advisors LLC purchased a new position in Visa in the fourth quarter valued at $33,000. Finally, TruNorth Capital Management LLC raised its position in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Trading Down 0.2 %

Shares of V stock opened at $284.77 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $293.07. The company’s 50-day moving average price is $270.65 and its 200-day moving average price is $273.45. The stock has a market cap 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 posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.16 EPS. As a group, equities analysts predict that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given 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%.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on V shares. Piper Sandler cut their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. TD Cowen cut their price objective on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Macquarie reiterated an “outperform” rating and set a $300.00 target price on shares of Visa in a research report on Wednesday, July 24th. Compass Point assumed coverage on shares of Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target for the company. Finally, Royal Bank of Canada decreased their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.