Alapocas Investment Partners Inc. Sells 3,009 Shares of Visa Inc. $V

Alapocas Investment Partners Inc. trimmed its holdings in shares of Visa Inc. (NYSE:V) by 7.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 39,361 shares of the credit-card processor’s stock after selling 3,009 shares during the quarter. Visa accounts for about 9.0% of Alapocas Investment Partners Inc.’s investment portfolio, making the stock its 3rd biggest position. Alapocas Investment Partners Inc.’s holdings in Visa were worth $13,975,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of V. Brighton Jones LLC increased its position in shares of Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after acquiring an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC increased its position in shares of Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after acquiring an additional 4,817 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Visa by 9.9% during the first quarter. GAMMA Investing LLC now owns 42,120 shares of the credit-card processor’s stock worth $14,761,000 after acquiring an additional 3,795 shares during the last quarter. Invesco LLC increased its position in shares of Visa by 8.3% during the first quarter. Invesco LLC now owns 16,871 shares of the credit-card processor’s stock worth $5,913,000 after acquiring an additional 1,300 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Visa by 0.9% during the first quarter. International Assets Investment Management LLC now owns 37,490 shares of the credit-card processor’s stock worth $13,139,000 after acquiring an additional 325 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on V shares. Oppenheimer lifted their target price on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. KeyCorp reissued an “overweight” rating and issued a $405.00 price objective on shares of Visa in a report on Wednesday. Citigroup initiated coverage on Visa in a report on Wednesday. They issued a “buy” rating and a $450.00 price objective for the company. Truist Financial lowered their price objective on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Finally, Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Three investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average target price of $392.75.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,815.10. This represents a 95.13% 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 the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s 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 transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This trade represents a 14.53% 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 corporate insiders.

Visa Stock Up 0.1%

NYSE:V opened at $345.82 on Friday. The firm has a market capitalization of $633.81 billion, a PE ratio of 33.77, a price-to-earnings-growth ratio of 2.04 and a beta of 0.90. The stock has a 50 day moving average of $344.73 and a 200-day moving average of $347.33. Visa Inc. has a 52 week low of $280.78 and a 52 week high of $375.51. 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 (NYSE:V) last posted its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business’s revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.42 earnings per share. Analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa’s dividend payout ratio is 23.05%.

About Visa

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.