Sweeney & Michel LLC Has $562,000 Stock Position in Visa Inc. $V

Sweeney & Michel LLC reduced its holdings in Visa Inc. (NYSE:V) by 5.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,614 shares of the credit-card processor’s stock after selling 102 shares during the period. Sweeney & Michel LLC’s holdings in Visa were worth $562,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in shares of Visa by 38,416.3% in the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock valued at $5,173,271,000 after purchasing an additional 14,723,050 shares during the last quarter. Nuveen LLC bought a new stake in shares of Visa in the 1st quarter valued at $3,518,533,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Visa in the 4th quarter valued at $673,689,000. Vanguard Group Inc. boosted its stake in shares of Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after purchasing an additional 1,677,088 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Visa by 17.7% in the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock valued at $3,847,953,000 after purchasing an additional 1,651,954 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction 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 owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the company’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Performance

V opened at $344.28 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company’s fifty day moving average price is $345.58 and its two-hundred day moving average price is $346.37. Visa Inc. has a 1-year low of $268.23 and a 1-year high of $375.51. The company has a market cap of $630.99 billion, a price-to-earnings ratio of 33.62, a PEG ratio of 2.27 and a beta of 0.92.

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

Visa Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday. Barclays reissued an “overweight” rating and set a $408.00 target price (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Morgan Stanley increased their target price 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. Finally, The Goldman Sachs Group assumed coverage on shares of Visa in a research note on Monday, June 2nd. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $385.96.

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.