Delap Wealth Advisory LLC Trims Stock Position in Visa Inc. (NYSE:V)

Delap Wealth Advisory LLC cut its position in Visa Inc. (NYSE:V) by 25.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 769 shares of the credit-card processor’s stock after selling 265 shares during the quarter. Delap Wealth Advisory LLC’s holdings in Visa were worth $270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of V. Eastern Bank boosted its stake in Visa by 2.9% during the first quarter. Eastern Bank now owns 343,625 shares of the credit-card processor’s stock valued at $120,427,000 after buying an additional 9,565 shares during the period. Vestcor Inc raised its holdings in shares of Visa by 5.4% in the 1st quarter. Vestcor Inc now owns 63,526 shares of the credit-card processor’s stock valued at $22,263,000 after acquiring an additional 3,237 shares in the last quarter. Independence Financial Advisors LLC purchased a new stake in shares of Visa in the 1st quarter valued at about $204,000. Harvest Fund Management Co. Ltd boosted its position in shares of Visa by 221.5% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 39,963 shares of the credit-card processor’s stock valued at $13,577,000 after acquiring an additional 27,531 shares during the last quarter. Finally, S&CO Inc. grew its holdings in shares of Visa by 1.3% during the first quarter. S&CO Inc. now owns 16,036 shares of the credit-card processor’s stock worth $5,619,000 after purchasing an additional 201 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the transaction, the insider owned 26,413 shares in the company, valued at approximately $9,904,875. This represents a 30.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,108 shares of company stock worth $36,771,200 over the last three months. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on V. William Blair reiterated an “outperform” rating on shares of Visa in a research report on Wednesday, April 30th. Evercore ISI started coverage on shares of Visa in a research report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 target price for the company. Oppenheimer increased their target price on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Jefferies Financial Group lifted their price target on Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research note on Tuesday, May 27th. Finally, BMO Capital Markets upped their price objective on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $375.52.

Visa Price Performance

V opened at $351.92 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $649.35 billion, a PE ratio of 35.37, a price-to-earnings-growth ratio of 2.40 and a beta of 0.92. The stock’s 50 day moving average price is $355.76 and its 200-day moving average price is $345.83. Visa Inc. has a 52-week low of $254.51 and a 52-week high of $375.51.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the previous year, the firm earned $2.42 EPS. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, equities research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. Visa’s payout ratio is currently 23.72%.

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.