Visa Inc. $V Shares Sold by McElhenny Sheffield Capital Management LLC

McElhenny Sheffield Capital Management LLC decreased its position in shares of Visa Inc. (NYSE:V) by 2.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,345 shares of the credit-card processor’s stock after selling 70 shares during the quarter. McElhenny Sheffield Capital Management LLC’s holdings in Visa were worth $833,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of V. Keystone Global Partners LLC acquired a new position in shares of Visa during the first quarter valued at $26,000. von Borstel & Associates Inc. acquired a new position in shares of Visa during the first quarter valued at $27,000. Family Legacy Financial Solutions LLC bought a new stake in shares of Visa during the second quarter valued at about $28,000. Cranbrook Wealth Management LLC raised its stake in shares of Visa by 82.0% during the second 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 in the last quarter. Finally, 1 North Wealth Services LLC bought a new stake in shares of Visa during the first quarter valued at about $38,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

Shares of Visa stock opened at $343.63 on Monday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average price is $343.77 and its two-hundred day moving average price is $346.97. Visa Inc. has a 52 week low of $275.37 and a 52 week high of $375.51. The stock has a market cap of $629.79 billion, a PE ratio of 33.56, a price-to-earnings-growth ratio of 2.03 and a beta of 0.90.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.42 EPS. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders 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 payout ratio is presently 23.05%.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the business’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. The trade was a 95.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction dated 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 owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on V. Macquarie lifted their price objective on shares of Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Truist Financial cut their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Raymond James Financial restated an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Erste Group Bank cut shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $389.00.

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.