Shorepath Capital Management LLC Sells 814 Shares of Visa Inc. $V

Shorepath Capital Management LLC cut its holdings in shares of Visa Inc. (NYSE:V) by 3.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,561 shares of the credit-card processor’s stock after selling 814 shares during the quarter. Visa accounts for 7.2% of Shorepath Capital Management LLC’s investment portfolio, making the stock its 5th largest position. Shorepath Capital Management LLC’s holdings in Visa were worth $8,720,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position 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. Northern Trust Corp increased its position in shares of Visa by 4.0% in the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock valued at $6,654,189,000 after purchasing an additional 726,299 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Visa by 7.2% in the 1st 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 purchasing an additional 955,392 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Visa by 3.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor’s stock valued at $4,442,157,000 after purchasing an additional 434,217 shares during the last quarter. Finally, Wellington Management Group LLP increased its position 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.

Visa Trading Down 1.1%

NYSE V opened at $341.07 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.12. The firm’s fifty day moving average price is $344.78 and its 200 day moving average price is $348.31. The company has a market capitalization of $625.11 billion, a price-to-earnings ratio of 33.41, a price-to-earnings-growth ratio of 2.06 and a beta of 0.90. Visa Inc. has a 12 month low of $287.19 and a 12 month high of $375.51.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.01. The company had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. Visa’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period last year, the firm posted $2.71 EPS. On average, sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a $0.67 dividend. This is a boost from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Wednesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 23.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on V shares. Truist Financial dropped their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Barclays reissued an “overweight” rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Visa in a research report on Wednesday, October 22nd. Four analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $400.00.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction 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 transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction 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 completion of the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $183,815.10. This represents a 95.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.