Alexis Investment Partners LLC Lowers Stake in Visa Inc. $V

Alexis Investment Partners LLC reduced its holdings in shares of Visa Inc. (NYSE:V) by 1.9% in the second quarter, HoldingsChannel reports. The fund owned 4,371 shares of the credit-card processor’s stock after selling 86 shares during the period. Visa accounts for 0.7% of Alexis Investment Partners LLC’s portfolio, making the stock its 23rd biggest holding. Alexis Investment Partners LLC’s holdings in Visa were worth $1,531,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Visa by 1.1% in the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after buying an additional 1,677,088 shares during the last quarter. Northern Trust Corp raised its holdings in Visa by 4.0% in the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock worth $6,654,189,000 after buying an additional 726,299 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after buying an additional 955,392 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Visa by 3.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor’s stock worth $4,442,157,000 after buying an additional 434,217 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Visa by 17.7% in the first quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after buying an additional 1,651,954 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Visa

In other Visa 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 owned 11,925 shares of the company’s stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 $183,815.10. This represents a 95.13% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Visa Stock Performance

Shares of NYSE V opened at $345.10 on Thursday. The firm has a 50 day moving average of $344.72 and a 200 day moving average of $347.09. 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 firm has a market capitalization of $632.50 billion, a price-to-earnings ratio of 33.70, a price-to-earnings-growth ratio of 2.05 and a beta of 0.90. Visa Inc. has a 12-month low of $280.78 and a 12-month high of $375.51.

Visa (NYSE:V) last announced its earnings results 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 during 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%. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.42 earnings per share. On average, research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently declared 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 of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa’s payout ratio is currently 23.05%.

Analyst Ratings Changes

Several research analysts have issued reports on V shares. KeyCorp reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Visa in a report on Wednesday. Morgan Stanley lifted their price target 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Citigroup assumed coverage on shares of Visa in a research note on Wednesday. They issued a “buy” rating and a $450.00 price target for the company. Finally, Barclays reiterated an “overweight” rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $392.75.

About Visa

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.