AMI Investment Management Inc. decreased its holdings in Visa Inc. (NYSE:V – Free Report) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,552 shares of the credit-card processor’s stock after selling 181 shares during the period. Visa accounts for approximately 1.4% of AMI Investment Management Inc.’s holdings, making the stock its 18th biggest holding. AMI Investment Management Inc.’s holdings in Visa were worth $5,522,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Keystone Global Partners LLC bought a new stake in Visa in the first quarter worth about $26,000. Family Legacy Financial Solutions LLC bought a new stake in Visa in the second quarter worth about $28,000. von Borstel & Associates Inc. bought a new stake in Visa in the first quarter worth about $27,000. Cranbrook Wealth Management LLC lifted its stake in Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 41 shares during the last quarter. Finally, Westend Capital Management LLC lifted its stake in Visa by 83.1% in the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor’s stock worth $38,000 after purchasing an additional 49 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on V shares. Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Morgan Stanley raised their price objective on shares of Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 price objective for the company. Truist Financial reduced their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Finally, Barclays reaffirmed an “overweight” rating and set a $408.00 target price (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $389.00.
Visa Stock Performance
Shares of NYSE:V opened at $343.63 on Monday. The firm has a market cap of $629.79 billion, a PE ratio of 33.56, a price-to-earnings-growth ratio of 2.03 and a beta of 0.90. The firm’s 50 day simple moving average is $343.77 and its 200-day simple moving average is $346.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a one year low of $275.37 and a one year high of $375.51.
Visa (NYSE:V – Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa’s revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company posted $2.42 earnings per share. As a group, equities analysts predict that Visa Inc. will post 11.3 EPS for the current year.
Visa Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is presently 23.05%.
Insider Activity at Visa
In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.
Visa Company 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.
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