Tevis Investment Management Sells 265 Shares of Visa Inc. $V

Tevis Investment Management trimmed its position in Visa Inc. (NYSE:V) by 6.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,789 shares of the credit-card processor’s stock after selling 265 shares during the period. Tevis Investment Management’s holdings in Visa were worth $1,345,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in V. Yeomans Consulting Group Inc. raised its position in shares of Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock worth $360,000 after purchasing an additional 29 shares during the period. Semus Wealth Partners LLC grew its position in Visa by 0.8% in the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock valued at $1,209,000 after purchasing an additional 29 shares during the period. BankPlus Wealth Management LLC increased its stake in Visa by 0.9% during the 2nd quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock valued at $1,185,000 after purchasing an additional 29 shares in the last quarter. Transcendent Capital Group LLC raised its holdings in Visa by 2.9% during the second quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock worth $360,000 after buying an additional 29 shares during the last quarter. Finally, Wood Tarver Financial Group LLC lifted its stake in shares of Visa by 11.1% in the first quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor’s stock valued at $105,000 after buying an additional 30 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

Visa stock opened at $340.93 on Thursday. Visa Inc. has a 52 week low of $287.19 and a 52 week high of $375.51. The company’s 50 day moving average price is $344.93 and its two-hundred day moving average price is $348.30. The stock has a market cap of $624.86 billion, a P/E ratio of 33.39, a P/E/G ratio of 2.05 and a beta of 0.90. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last released its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.01. The company had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. Visa had a return on equity of 60.20% and a net margin of 50.15%.Visa’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.71 earnings per share. On average, equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. This is a boost from Visa’s previous quarterly dividend of $0.59. Visa’s payout ratio is 23.05%.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa 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 sale, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on V. Truist Financial decreased their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 price target for the company. Barclays reissued an “overweight” rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Robert W. Baird set a $425.00 target price on Visa in a research report on Wednesday. Finally, Raymond James Financial reissued an “outperform” rating and issued a $408.00 price target (up from $398.00) on shares of Visa in a research report on Wednesday. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $400.00.

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.