Visa Inc. $V Shares Sold by Clarendon Private LLC

Clarendon Private LLC decreased its position in shares of Visa Inc. (NYSE:V) by 11.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,982 shares of the credit-card processor’s stock after selling 252 shares during the period. Clarendon Private LLC’s holdings in Visa were worth $704,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of V. Keystone Global Partners LLC acquired a new position in Visa during the 1st quarter worth about $26,000. von Borstel & Associates Inc. purchased a new stake in Visa during the 1st quarter worth about $27,000. Family Legacy Financial Solutions LLC purchased a new stake in Visa during the 2nd quarter worth about $28,000. Cranbrook Wealth Management LLC increased its holdings in Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 41 shares during the period. Finally, 1 North Wealth Services LLC purchased a new stake in Visa during the 1st quarter worth about $38,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. This represents a 95.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’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 completion of the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Visa Trading Down 3.1%

V opened at $335.01 on Friday. Visa Inc. has a one year low of $280.78 and a one year high of $375.51. The company has a market cap of $614.00 billion, a P/E ratio of 32.72, a PEG ratio of 2.05 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The business’s 50-day simple moving average is $344.20 and its 200-day simple moving average is $346.87.

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 analysts’ consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business’s revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.42 EPS. As a group, equities research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have weighed in on V. Truist Financial cut their price target on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. UBS Group restated a “buy” rating and set a $415.00 price target (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft began coverage on Visa in a report on Thursday, July 17th. They set a “buy” rating and a $410.00 price target on the stock. Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $389.00.

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.