Visa Inc. $V Position Lessened by Sanctuary Advisors LLC

Sanctuary Advisors LLC decreased its position in shares of Visa Inc. (NYSE:V) by 0.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 318,611 shares of the credit-card processor’s stock after selling 1,528 shares during the period. Sanctuary Advisors LLC’s holdings in Visa were worth $109,312,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cresta Advisors Ltd. acquired a new stake in shares of Visa during the 4th quarter valued at about $26,000. Parvin Asset Management LLC grew its stake in shares of Visa by 200.0% in the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after buying an additional 50 shares in the last quarter. Virtus Advisers LLC acquired a new position in Visa in the second quarter worth approximately $33,000. RHL Group LLC bought a new position in Visa during the fourth quarter valued at approximately $34,000. Finally, Timmons Wealth Management LLC acquired a new stake in Visa in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Oppenheimer reissued an “outperform” rating and issued a $403.00 target price (up from $391.00) on shares of Visa in a research report on Wednesday, April 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $430.00 price objective (up from $394.00) on shares of Visa in a research note on Wednesday, July 29th. Citigroup reaffirmed a “buy” rating and issued a $440.00 price objective (up from $400.00) on shares of Visa in a research note on Wednesday, July 29th. Clear Str raised shares of Visa to a “strong-buy” rating in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $412.00 target price (up from $395.00) on shares of Visa in a report on Wednesday, July 29th. Seven research analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $413.58.

Visa Trading Up 0.0%

Shares of V stock opened at $371.09 on Monday. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $373.97. 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 business’s 50 day moving average is $353.73 and its two-hundred day moving average is $329.61. The company has a market cap of $662.18 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 1.99 and a beta of 0.74.

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

Visa Announces Dividend

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

Visa announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, April 28th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the credit-card processor to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Tullier Kelly Mahon sold 57,272 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $364.97, for a total value of $20,902,561.84. Following the sale, the insider directly 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 can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 20,970 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $340.25, for a total value of $7,135,042.50. Following the completion of the sale, the chief executive officer directly owned 15,174 shares in the company, valued at approximately $5,162,953.50. This represents a 58.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 90,759 shares of company stock valued at $32,375,779 in the last quarter. Insiders own 0.12% of the company’s stock.

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.