Visa Inc. $V Shares Sold by Greenland Capital Management LP

Greenland Capital Management LP trimmed its position in Visa Inc. (NYSE:V) by 56.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,449 shares of the credit-card processor’s stock after selling 8,231 shares during the quarter. Greenland Capital Management LP’s holdings in Visa were worth $2,213,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of V. XXEC Inc. increased its holdings in Visa by 153,118.8% in the 2nd quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor’s stock worth $63,904,097,000 after buying an additional 186,138,883 shares during the period. Norges Bank acquired a new stake in Visa during the 4th quarter valued at approximately $5,877,738,000. Cardano Risk Management B.V. boosted its holdings in shares of Visa by 867.6% in the 4th quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor’s stock valued at $2,880,595,000 after acquiring an additional 7,364,762 shares during the last quarter. Diamant Asset Management Inc. boosted its holdings in shares of Visa by 29,706.3% in the 1st quarter. Diamant Asset Management Inc. now owns 7,332,947 shares of the credit-card processor’s stock valued at $2,216,310,000 after acquiring an additional 7,308,345 shares during the last quarter. Finally, J. Stern & Co. LLP increased its stake in shares of Visa by 12,497.1% in the fourth quarter. J. Stern & Co. LLP now owns 3,378,039 shares of the credit-card processor’s stock worth $1,184,712,000 after acquiring an additional 3,351,223 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

NYSE:V opened at $371.09 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $662.18 billion, a PE ratio of 31.56, a P/E/G ratio of 1.99 and a beta of 0.74. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $373.97. The company has a fifty day moving average of $353.73 and a two-hundred day moving average of $329.64.

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

Visa Announces Dividend

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

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

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $430.00 target price on shares of Visa in a report on Wednesday, July 29th. Robert W. Baird increased their price target on Visa from $412.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. BMO Capital Markets lifted their price objective on Visa from $387.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. boosted their price objective on Visa from $400.00 to $450.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Finally, TD Cowen restated a “buy” rating on shares of Visa in a research note on Wednesday, July 29th. Seven investment analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $413.58.

Insider Buying and Selling

In other Visa 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 stock was sold at an average price of $360.00, for a total transaction of $729,720.00. Following the completion of the sale, the general counsel directly owned 18,404 shares in the company, valued at approximately $6,625,440. The trade was a 9.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tullier Kelly Mahon sold 57,272 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $364.97, for a total value of $20,902,561.84. Following the transaction, the insider directly owned 49,662 shares of the company’s stock, valued at $18,125,140.14. The trade was a 53.56% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 90,759 shares of company stock worth $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.