Alta Capital Management LLC Sells 1,511 Shares of Visa Inc. $V

Alta Capital Management LLC decreased its stake in Visa Inc. (NYSE:V) by 1.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 85,765 shares of the credit-card processor’s stock after selling 1,511 shares during the quarter. Visa makes up 1.7% of Alta Capital Management LLC’s holdings, making the stock its 24th largest holding. Alta Capital Management LLC’s holdings in Visa were worth $30,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently modified their holdings of the stock. Callahan Advisors LLC grew its holdings in shares of Visa by 4.1% in the 2nd quarter. Callahan Advisors LLC now owns 9,239 shares of the credit-card processor’s stock valued at $3,280,000 after acquiring an additional 360 shares in the last quarter. Uptick Partners LLC grew its holdings in Visa by 28.0% during the second quarter. Uptick Partners LLC now owns 3,323 shares of the credit-card processor’s stock worth $1,180,000 after purchasing an additional 726 shares during the period. Keeler & Nadler Financial Planning & Wealth Management grew its holdings in Visa by 283.2% during the second quarter. Keeler & Nadler Financial Planning & Wealth Management now owns 2,962 shares of the credit-card processor’s stock worth $1,052,000 after purchasing an additional 2,189 shares during the period. Dock Street Asset Management Inc. grew its holdings in Visa by 3.8% during the second quarter. Dock Street Asset Management Inc. now owns 164,210 shares of the credit-card processor’s stock worth $58,303,000 after purchasing an additional 5,953 shares during the period. Finally, Generali Asset Management SPA SGR grew its holdings in Visa by 0.9% during the second quarter. Generali Asset Management SPA SGR now owns 141,885 shares of the credit-card processor’s stock worth $50,376,000 after purchasing an additional 1,197 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred 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 sale, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on V shares. UBS Group reiterated 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a report on Thursday, July 17th. They set a “buy” rating and a $410.00 price objective for the company. Finally, Oppenheimer boosted their price objective on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $389.00.

Visa Stock Up 1.9%

NYSE V opened at $341.90 on Monday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 1-year low of $280.78 and a 1-year high of $375.51. The company has a 50 day moving average of $344.30 and a 200-day moving average of $346.89. The company has a market cap of $626.63 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 2.03 and a beta of 0.90.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the previous year, the business earned $2.42 earnings per share. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. On average, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Visa Company Profile

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.