Visa Inc. $V Shares Sold by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC trimmed its stake in shares of Visa Inc. (NYSE:V) by 6.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,284 shares of the credit-card processor’s stock after selling 934 shares during the quarter. Visa comprises 1.0% of Beverly Hills Private Wealth LLC’s investment portfolio, making the stock its 19th biggest holding. Beverly Hills Private Wealth LLC’s holdings in Visa were worth $5,072,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Mountain Capital Investment Advisors Inc. lifted its position in Visa by 5.4% during the 2nd quarter. Mountain Capital Investment Advisors Inc. now owns 5,102 shares of the credit-card processor’s stock worth $1,814,000 after acquiring an additional 263 shares during the period. Altus Wealth Group LLC lifted its position in Visa by 0.6% during the 2nd quarter. Altus Wealth Group LLC now owns 7,300 shares of the credit-card processor’s stock worth $2,592,000 after acquiring an additional 46 shares during the period. Balboa Wealth Partners lifted its position in Visa by 7.3% during the 2nd quarter. Balboa Wealth Partners now owns 5,920 shares of the credit-card processor’s stock worth $2,102,000 after acquiring an additional 401 shares during the period. Swan Global Investments LLC lifted its position in Visa by 6.3% during the 2nd quarter. Swan Global Investments LLC now owns 1,178 shares of the credit-card processor’s stock worth $418,000 after acquiring an additional 70 shares during the period. Finally, Calamos Wealth Management LLC lifted its position in Visa by 2.0% during the 2nd quarter. Calamos Wealth Management LLC now owns 87,025 shares of the credit-card processor’s stock worth $30,898,000 after acquiring an additional 1,690 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

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 market capitalization of $632.50 billion, a P/E ratio of 33.70, a PEG ratio of 2.05 and a beta of 0.90. The business has a 50 day moving average price of $344.72 and a 200 day moving average price of $347.09. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12.

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, beating the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same period last year, the business posted $2.42 EPS. Visa’s quarterly revenue was up 14.3% on a year-over-year basis. Sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were paid a $0.59 dividend. 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%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Morgan Stanley increased their price objective on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Citigroup initiated coverage on Visa in a report on Wednesday. They issued a “buy” rating and a $450.00 price target for the company. KeyCorp reissued an “overweight” rating and issued a $405.00 price target on shares of Visa in a report on Wednesday. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price target for the company. Finally, Macquarie raised their price target on Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. One research 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $392.75.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. This trade represents a 95.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel directly 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 disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

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.