GenTrust LLC Reduces Stake in Visa Inc. $V

GenTrust LLC decreased its stake in shares of Visa Inc. (NYSE:V) by 11.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,834 shares of the credit-card processor’s stock after selling 375 shares during the period. GenTrust LLC’s holdings in Visa were worth $1,006,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of V. Keystone Global Partners LLC bought a new position in shares of Visa during the 1st quarter valued at about $26,000. von Borstel & Associates Inc. bought a new position in shares of Visa during the 1st quarter valued at about $27,000. Family Legacy Financial Solutions LLC bought a new position in shares of Visa during the 2nd quarter valued at about $28,000. Harbor Asset Planning Inc. bought a new position in shares of Visa during the 2nd quarter valued at about $29,000. Finally, Cranbrook Wealth Management LLC increased its position in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of several recent research reports. Morgan Stanley raised their price target on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Citigroup upgraded Visa to a “strong-buy” rating in a research report on Thursday. Oppenheimer raised their price target on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Finally, Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $392.75.

Visa Trading Up 0.4%

NYSE V opened at $347.34 on Monday. Visa Inc. has a fifty-two week low of $280.78 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a 50 day simple moving average of $344.79 and a two-hundred day simple moving average of $347.98. The stock has a market cap of $636.60 billion, a P/E ratio of 33.92, a price-to-earnings-growth ratio of 2.05 and a beta of 0.90.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter last year, the business posted $2.42 EPS. The business’s revenue was up 14.3% on a year-over-year basis. On average, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were paid 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 dividend payout ratio (DPR) is presently 23.05%.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

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.