Envestnet Portfolio Solutions Inc. Lowers Position in Visa Inc. (NYSE:V)

Envestnet Portfolio Solutions Inc. lowered its stake in shares of Visa Inc. (NYSE:V) by 16.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 152,425 shares of the credit-card processor’s stock after selling 29,870 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Visa were worth $53,419,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Lakeridge Wealth Management LLC grew its holdings in Visa by 5.7% during the first 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 in the last quarter. Blue Rock Wealth Management LLC bought a new stake in Visa during the fourth quarter worth $306,000. Aptus Capital Advisors LLC grew its holdings in Visa by 19.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock worth $57,727,000 after buying an additional 30,185 shares in the last quarter. King Wealth Management Group grew its holdings in Visa by 9.0% during the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock worth $23,663,000 after buying an additional 6,172 shares in the last quarter. Finally, Eagle Strategies LLC grew its holdings in Visa by 2.5% during the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock worth $811,000 after buying an additional 63 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the subject of several recent research reports. BMO Capital Markets upped their price target on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. UBS Group upped their price target on Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. Barclays reissued an “overweight” rating on shares of Visa in a research report on Friday, June 13th. Evercore ISI began coverage on Visa in a research report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 price objective on the stock. Finally, William Blair reissued an “outperform” rating on shares of Visa in a research report on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $372.80.

Visa Stock Performance

NYSE:V opened at $340.16 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. The firm has a market cap of $627.64 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 2.29 and a beta of 0.94. The business’s fifty day moving average is $351.69 and its 200 day moving average is $338.37.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period in the previous year, the company posted $2.51 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. Research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.69%. Visa’s payout ratio is 23.72%.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the company’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider now directly owns 26,413 shares in the company, valued at $9,772,810. This represents a 63.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the transaction, the chief executive officer now owns 537 shares in the company, valued at $185,576.46. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,098 shares of company stock worth $36,738,526. 0.13% of the stock is owned by company insiders.

About Visa

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.