Portfolio Design Labs LLC Decreases Stock Holdings in Visa Inc. $V

Portfolio Design Labs LLC cut its stake in Visa Inc. (NYSE:V) by 10.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,756 shares of the credit-card processor’s stock after selling 2,056 shares during the period. Visa makes up approximately 1.0% of Portfolio Design Labs LLC’s holdings, making the stock its 20th largest holding. Portfolio Design Labs LLC’s holdings in Visa were worth $6,092,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. G&S Capital LLC boosted its position in Visa by 4.0% during 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. NerdWallet Wealth Partners LLC grew its holdings in Visa by 4.5% in the second 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 during the last quarter. Planned Solutions Inc. increased its position in shares of Visa by 2.0% in the fourth quarter. Planned Solutions Inc. now owns 1,598 shares of the credit-card processor’s stock valued at $560,000 after buying an additional 31 shares in the last quarter. Frederick Financial Consultants LLC increased its position in shares of Visa by 2.0% in the fourth quarter. Frederick Financial Consultants LLC now owns 1,598 shares of the credit-card processor’s stock valued at $560,000 after buying an additional 31 shares in the last quarter. Finally, Kuhn & Co Investment Counsel raised its stake in shares of Visa by 0.5% during 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 last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on V shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $416.00 price target on shares of Visa in a report on Wednesday, July 29th. Royal Bank Of Canada restated an “outperform” rating and set a $412.00 price objective (up from $395.00) on shares of Visa in a research report on Wednesday, July 29th. JPMorgan Chase & Co. upped their target price on Visa from $400.00 to $450.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Raymond James Financial reiterated an “outperform” rating and set a $406.00 target price on shares of Visa in a report on Wednesday, July 29th. Finally, Robert W. Baird raised their price target on Visa from $412.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Seven analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $413.58.

Visa Trading Up 0.2%

V opened at $366.31 on Friday. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $373.97. The firm has a market capitalization of $653.65 billion, a P/E ratio of 31.15, a P/E/G ratio of 1.96 and a beta of 0.74. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.60. The firm’s 50 day moving average is $352.75 and its 200-day moving average is $329.35.

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

Visa Dividend Announcement

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

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

Insider Transactions at Visa

In other news, insider Tullier Kelly Mahon sold 57,272 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $364.97, for a total transaction of $20,902,561.84. Following the transaction, the insider owned 49,662 shares of the company’s stock, valued at approximately $18,125,140.14. This trade represents a 53.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 10,490 shares of Visa stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $343.99, for a total value of $3,608,455.10. Following the completion of the transaction, the chief executive officer owned 15,174 shares of the company’s stock, valued at $5,219,704.26. This trade represents a 40.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 90,759 shares of company stock valued at $32,375,779. Insiders own 0.12% of the company’s stock.

About Visa

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.