Litman Gregory Wealth Management LLC Sells 10,942 Shares of Visa Inc. $V

Litman Gregory Wealth Management LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 18.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,708 shares of the credit-card processor’s stock after selling 10,942 shares during the period. Visa makes up 1.3% of Litman Gregory Wealth Management LLC’s portfolio, making the stock its 19th biggest position. Litman Gregory Wealth Management LLC’s holdings in Visa were worth $16,939,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of V. Nuveen LLC acquired a new position in Visa during the first quarter valued at approximately $3,518,533,000. Vanguard Group Inc. boosted its position in shares of Visa by 1.1% during the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after purchasing an additional 1,677,088 shares in the last quarter. Wellington Management Group LLP raised its stake in Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after buying an additional 1,651,954 shares during the period. MUFG Securities EMEA plc acquired a new stake in Visa during the 1st quarter worth $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Visa by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after buying an additional 955,392 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

NYSE V opened at $346.66 on Friday. The company has a market capitalization of $635.36 billion, a PE ratio of 33.85, a price-to-earnings-growth ratio of 2.08 and a beta of 0.90. Visa Inc. has a 12-month low of $275.35 and a 12-month high of $375.51. The firm’s 50 day moving average is $343.68 and its 200-day moving average is $346.98. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter last year, the firm earned $2.42 earnings per share. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Analysts Set New Price Targets

V has been the subject of several recent analyst reports. Macquarie increased their price target on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Morgan Stanley boosted their price objective on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research report on Wednesday. Robert W. Baird set a $410.00 price target on shares of Visa and gave the company an “outperform” rating in a research note on Monday. Finally, Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $389.00.

Insider Activity

In related news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 537 shares in the company, valued at approximately $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’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 transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Visa 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.