Visa Inc. (NYSE:V) Shares Sold by Zega Financial LLC

Zega Financial LLC lessened its holdings in shares of Visa Inc. (NYSE:V) by 56.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 2,282 shares of the credit-card processor’s stock after selling 2,990 shares during the quarter. Zega Financial LLC’s holdings in Visa were worth $599,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Brio Consultants LLC lifted its holdings in Visa by 39.1% in the 4th quarter. Brio Consultants LLC now owns 1,555 shares of the credit-card processor’s stock valued at $405,000 after acquiring an additional 437 shares during the last quarter. Gilbert & Cook Inc. lifted its stake in Visa by 2.9% during the fourth quarter. Gilbert & Cook Inc. now owns 5,629 shares of the credit-card processor’s stock valued at $1,466,000 after purchasing an additional 158 shares during the last quarter. Aveo Capital Partners LLC boosted its holdings in Visa by 9.2% during the fourth quarter. Aveo Capital Partners LLC now owns 2,802 shares of the credit-card processor’s stock worth $730,000 after buying an additional 235 shares in the last quarter. 9258 Wealth Management LLC grew its position in Visa by 20.8% in the fourth quarter. 9258 Wealth Management LLC now owns 8,043 shares of the credit-card processor’s stock worth $2,094,000 after buying an additional 1,387 shares during the last quarter. Finally, Gryphon Financial Partners LLC increased its holdings in shares of Visa by 53.8% in the fourth quarter. Gryphon Financial Partners LLC now owns 13,640 shares of the credit-card processor’s stock valued at $3,282,000 after buying an additional 4,774 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 0.4 %

Shares of Visa stock opened at $291.61 on Wednesday. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $293.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a 50 day moving average price of $269.30 and a two-hundred day moving average price of $273.27. The stock has a market capitalization of $533.34 billion, a P/E ratio of 32.58, a PEG ratio of 2.01 and a beta of 0.96.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter last year, the firm posted $2.16 EPS. The business’s quarterly revenue was up 9.6% on a year-over-year basis. Equities analysts expect that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.71%. Visa’s payout ratio is 23.24%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group reduced their price objective on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. TD Cowen dropped their price target on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Piper Sandler cut their price objective on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. William Blair upgraded shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Six analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $310.22.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.19% 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.