Visa Inc. $V Shares Sold by Evolve Private Wealth LLC

Evolve Private Wealth LLC lowered its holdings in Visa Inc. (NYSE:V) by 21.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,084 shares of the credit-card processor’s stock after selling 1,926 shares during the period. Evolve Private Wealth LLC’s holdings in Visa were worth $2,431,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Cresta Advisors Ltd. acquired a new position in shares of Visa in the fourth quarter worth about $26,000. Parvin Asset Management LLC increased its position in shares of 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 in the last quarter. Virtus Advisers LLC acquired a new stake in shares of Visa during the second quarter valued at approximately $33,000. RHL Group LLC purchased a new stake in shares of Visa in the 4th quarter valued at approximately $34,000. Finally, Timmons Wealth Management LLC purchased a new stake in shares of Visa in the 4th quarter valued at approximately $34,000. 82.15% of the stock is owned by institutional investors.

Visa Stock Performance

Shares of NYSE V opened at $371.09 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.99. Visa Inc. has a one year low of $293.89 and a one year high of $373.97. The business’s 50-day moving average price is $353.73 and its two-hundred day moving average price is $329.64. The company has a market capitalization of $662.18 billion, a P/E ratio of 31.56, a price-to-earnings-growth ratio of 1.99 and a beta of 0.74.

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

Visa Announces Dividend

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

Visa announced that its board has initiated a share buyback plan on Tuesday, April 28th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the credit-card processor to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Weiss Ratings upgraded shares of Visa from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 30th. Cantor Fitzgerald set a $445.00 target price on Visa and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Truist Financial set a $406.00 price target on Visa and gave the company a “buy” rating in a report on Wednesday, August 5th. Citigroup reissued a “buy” rating and set a $440.00 price target (up from $400.00) on shares of Visa in a research report on Wednesday, July 29th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $450.00 price target on shares of Visa in a research report on Tuesday, June 2nd. Seven 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, the company has a consensus rating of “Buy” and an average target price of $413.58.

Insider Activity

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

About Visa

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.