Meitav Investment House Ltd. Sells 14,745 Shares of Visa Inc. $V

Meitav Investment House Ltd. lessened its stake in shares of Visa Inc. (NYSE:V) by 6.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 197,951 shares of the credit-card processor’s stock after selling 14,745 shares during the quarter. Visa accounts for about 1.1% of Meitav Investment House Ltd.’s investment portfolio, making the stock its 27th largest position. Meitav Investment House Ltd.’s holdings in Visa were worth $70,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Lakeridge Wealth Management LLC lifted its position in shares of Visa by 5.7% during the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor’s stock worth $528,000 after buying an additional 81 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Visa by 14.5% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock valued at $159,523,000 after purchasing an additional 57,800 shares during the last quarter. Precedent Wealth Partners LLC raised its position in Visa by 7.5% in the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock valued at $564,000 after purchasing an additional 111 shares during the last quarter. Consilium Wealth Advisory LLC bought a new position in Visa in the 2nd quarter valued at $862,000. Finally, Iron Gate Global Advisors LLC raised its position in Visa by 5.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock valued at $22,040,000 after purchasing an additional 3,484 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Down 1.3%

NYSE V opened at $346.66 on Friday. The stock has a fifty day moving average of $343.68 and a 200-day moving average of $346.98. The stock has a market capitalization of $635.36 billion, a P/E ratio of 33.85, a price-to-earnings-growth ratio of 2.08 and a beta of 0.90. Visa Inc. has a 52 week low of $275.35 and a 52 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.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm earned $2.42 earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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

Wall Street Analyst Weigh In

V has been the subject of several research analyst reports. Truist Financial cut their price objective on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price objective for the company. Macquarie lifted their price objective on Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Barclays reiterated an “overweight” rating and issued a $408.00 price objective (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Finally, Morgan Stanley lifted 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. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $389.00.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction 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 sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction 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 sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $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 owned by insiders.

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.