Evermay Wealth Management LLC Sells 811 Shares of Visa Inc. $V

Evermay Wealth Management LLC decreased its holdings in shares of Visa Inc. (NYSE:V) by 8.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,076 shares of the credit-card processor’s stock after selling 811 shares during the period. Evermay Wealth Management LLC’s holdings in Visa were worth $3,222,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Visa by 14.5% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock valued at $159,523,000 after buying an additional 57,800 shares during the period. Precedent Wealth Partners LLC boosted its stake in Visa by 7.5% during the second quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock valued at $564,000 after buying an additional 111 shares during the period. Consilium Wealth Advisory LLC bought a new stake in Visa during the second quarter valued at $862,000. Iron Gate Global Advisors LLC boosted its stake in Visa by 5.9% during the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock valued at $22,040,000 after buying an additional 3,484 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Visa by 7.2% during 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 valued at $5,003,569,000 after buying an additional 955,392 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated 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 $183,815.10. The trade was a 95.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value 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 position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Macquarie lifted their price target on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. KeyCorp reaffirmed an “overweight” rating and set a $405.00 price target on shares of Visa in a research note on Wednesday. Morgan Stanley lifted their price target on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Barclays reaffirmed an “overweight” rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Finally, Wells Fargo & Company set a $412.00 price target on Visa and gave the stock an “overweight” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $392.75.

Visa Trading Down 0.6%

NYSE V opened at $345.10 on Thursday. Visa Inc. has a 1-year low of $280.78 and a 1-year high of $375.51. 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 stock has a 50-day moving average of $344.72 and a 200-day moving average of $347.09. The firm has a market cap of $632.50 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 2.05 and a beta of 0.90.

Visa (NYSE:V) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the previous year, the company posted $2.42 EPS. Visa’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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

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.