Townsquare Capital LLC Sells 11,539 Shares of Visa Inc. $V

Townsquare Capital LLC trimmed its stake in Visa Inc. (NYSE:VFree Report) by 61.8% during the fourth quarter, Holdings Channel reports. The fund owned 7,130 shares of the credit-card processor’s stock after selling 11,539 shares during the quarter. Townsquare Capital LLC’s holdings in Visa were worth $2,501,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in V. Brighton Jones LLC raised its stake in shares of Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after acquiring an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after acquiring an additional 4,817 shares in the last quarter. Nicholas Hoffman & Company LLC. raised its stake in shares of Visa by 4.6% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock valued at $3,834,000 after acquiring an additional 477 shares in the last quarter. Matrix Asset Advisors Inc. NY raised its stake in shares of Visa by 16.9% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock valued at $402,000 after acquiring an additional 164 shares in the last quarter. Finally, Schnieders Capital Management LLC. raised its stake in shares of Visa by 13.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock valued at $6,521,000 after acquiring an additional 2,230 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Stock Performance

Shares of NYSE:V opened at $323.31 on Thursday. The business’s fifty day moving average price is $317.88 and its two-hundred day moving average price is $324.48. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $375.51. The stock has a market capitalization of $579.93 billion, a price-to-earnings ratio of 28.16, a price-to-earnings-growth ratio of 1.74 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09.

Visa (NYSE:VGet Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.21. Visa had a return on equity of 65.00% and a net margin of 51.68%.The firm had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.75 billion. During the same period in the prior year, the business posted $2.76 earnings per share. The business’s revenue was up 17.1% compared to the same quarter last year. As a group, analysts predict that Visa Inc. will post 13.09 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, May 12th. Visa’s dividend payout ratio is 23.34%.

Visa declared that its board has approved a share repurchase program on Tuesday, April 28th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the credit-card processor to buy up to 3.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. UBS Group raised their target price on Visa from $390.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings lowered Visa from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, April 16th. Morgan Stanley reaffirmed an “overweight” rating and issued a $415.00 target price on shares of Visa in a report on Wednesday, April 29th. Freedom Capital raised Visa from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $389.00 target price on shares of Visa in a report on Wednesday, April 29th. Six analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $387.78.

Read Our Latest Analysis on Visa

Key Visa News

Here are the key news stories impacting Visa this week:

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 31,455 shares of the business’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total value of $10,699,103.70. Following the transaction, the chief executive officer owned 15,174 shares of the company’s stock, valued at approximately $5,161,284.36. The trade was a 67.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total value of $3,455,653.59. Following the completion of the transaction, the chief financial officer directly owned 9,872 shares in the company, valued at approximately $3,206,524.32. This represents a 51.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.12% of the company’s stock.

Visa Profile

(Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

See Also

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Institutional Ownership by Quarter for Visa (NYSE:V)

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