Visa Inc. $V Position Lowered by Wormser Freres Gestion

Wormser Freres Gestion reduced its stake in Visa Inc. (NYSE:V) by 17.7% during the second quarter, HoldingsChannel.com reports. The fund owned 29,574 shares of the credit-card processor’s stock after selling 6,376 shares during the quarter. Visa comprises approximately 6.2% of Wormser Freres Gestion’s holdings, making the stock its 3rd biggest position. Wormser Freres Gestion’s holdings in Visa were worth $10,497,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of V. Lakeridge Wealth Management LLC increased its position in Visa by 5.7% in the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor’s stock worth $528,000 after purchasing an additional 81 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Visa by 14.5% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock worth $159,523,000 after buying an additional 57,800 shares in the last quarter. Precedent Wealth Partners LLC lifted its holdings in shares of Visa by 7.5% in the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock valued at $564,000 after acquiring an additional 111 shares during the last quarter. Consilium Wealth Advisory LLC bought a new position in shares of Visa in the 2nd quarter valued at about $862,000. Finally, Iron Gate Global Advisors LLC lifted its holdings in shares of Visa by 5.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock valued at $22,040,000 after acquiring an additional 3,484 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on V shares. Morgan Stanley upped their price objective on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Macquarie lifted their price objective on shares of Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. UBS Group restated a “buy” rating and issued a $415.00 target price (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Visa in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $389.00.

Visa Trading Down 1.3%

V stock opened at $346.66 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $635.36 billion, a PE ratio of 33.85, a P/E/G ratio of 2.08 and a beta of 0.90. The firm’s 50-day moving average is $343.68 and its 200 day moving average is $346.98. Visa Inc. has a 12 month low of $275.35 and a 12 month high of $375.51.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.42 EPS. On average, research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s payout ratio is 23.05%.

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.