Haverford Trust Co Lowers Stock Holdings in Visa Inc. $V

Haverford Trust Co reduced its stake in Visa Inc. (NYSE:V) by 3.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,135 shares of the credit-card processor’s stock after selling 2,967 shares during the period. Haverford Trust Co’s holdings in Visa were worth $27,837,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. G&S Capital LLC grew its stake in Visa by 4.0% in the second quarter. G&S Capital LLC now owns 761 shares of the credit-card processor’s stock worth $261,000 after purchasing an additional 29 shares in the last quarter. Keating Financial Advisory Services Inc. raised its position in Visa by 0.9% during the 2nd quarter. Keating Financial Advisory Services Inc. now owns 3,189 shares of the credit-card processor’s stock valued at $1,094,000 after purchasing an additional 29 shares in the last quarter. NerdWallet Wealth Partners LLC raised its position in Visa by 4.5% during the 2nd quarter. NerdWallet Wealth Partners LLC now owns 695 shares of the credit-card processor’s stock valued at $239,000 after purchasing an additional 30 shares in the last quarter. Frederick Financial Consultants LLC lifted its holdings in shares of Visa by 2.0% in the 4th quarter. Frederick Financial Consultants LLC now owns 1,598 shares of the credit-card processor’s stock worth $560,000 after buying an additional 31 shares during the period. Finally, Kuhn & Co Investment Counsel lifted its holdings in shares of Visa by 0.5% in the 4th quarter. Kuhn & Co Investment Counsel now owns 6,096 shares of the credit-card processor’s stock worth $2,138,000 after buying an additional 32 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

V has been the topic of several research reports. Sanford C. Bernstein restated an “outperform” rating and set a $450.00 price target on shares of Visa in a research note on Tuesday, June 2nd. Citigroup restated a “buy” rating and issued a $440.00 price objective (up from $400.00) on shares of Visa in a report on Wednesday, July 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $403.00 price objective (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. Erste Group Bank upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Monday, July 27th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $430.00 target price on shares of Visa in a research report on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $413.58.

Visa Trading Up 1.5%

Shares of NYSE:V opened at $371.09 on Friday. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $373.97. The business’s fifty day simple moving average is $353.73 and its 200-day simple moving average is $329.64. The company has a market capitalization of $662.18 billion, a PE ratio of 31.56, a P/E/G ratio of 1.99 and a beta of 0.74. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, topping analysts’ consensus estimates of $3.23 by $0.09. Visa had a return on equity of 67.68% and a net margin of 50.78%.The firm had revenue of $11.63 billion during the quarter, compared to analysts’ expectations of $11.40 billion. During the same period in the prior year, the business posted $2.98 EPS. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. As a group, equities research analysts predict that Visa Inc. will post 13.16 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th will be issued a $0.67 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. Visa’s payout ratio is currently 22.79%.

Visa declared that its board has initiated a stock buyback program on Tuesday, April 28th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total value of $729,720.00. Following the transaction, the general counsel owned 18,404 shares of the company’s stock, valued at $6,625,440. The trade was a 9.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 20,970 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $340.25, for a total transaction of $7,135,042.50. Following the transaction, the chief executive officer owned 15,174 shares of the company’s stock, valued at approximately $5,162,953.50. This trade represents a 58.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 90,759 shares of company stock worth $32,375,779. 0.12% of the stock is owned by corporate insiders.

Visa Profile

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.