Canvas Wealth Advisors LLC Reduces Holdings in Visa Inc. $V

Canvas Wealth Advisors LLC decreased its holdings in shares of Visa Inc. (NYSE:V) by 16.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,933 shares of the credit-card processor’s stock after selling 389 shares during the period. Canvas Wealth Advisors LLC’s holdings in Visa were worth $687,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of V. Brighton Jones LLC boosted its position in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after buying an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after buying an additional 4,817 shares during the last quarter. GAMMA Investing LLC boosted its position in Visa by 9.9% in the first quarter. GAMMA Investing LLC now owns 42,120 shares of the credit-card processor’s stock valued at $14,761,000 after buying an additional 3,795 shares during the last quarter. Figure 8 Investment Strategies LLC boosted its position in Visa by 1.0% in the first quarter. Figure 8 Investment Strategies LLC now owns 8,624 shares of the credit-card processor’s stock valued at $3,022,000 after buying an additional 83 shares during the last quarter. Finally, Narwhal Capital Management boosted its position in Visa by 6.4% in the first quarter. Narwhal Capital Management now owns 52,609 shares of the credit-card processor’s stock valued at $18,437,000 after buying an additional 3,177 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

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

Visa Trading Down 0.6%

Visa stock opened at $345.10 on Thursday. 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 firm has a market cap of $632.50 billion, a PE ratio of 33.70, a P/E/G ratio of 2.05 and a beta of 0.90. The stock’s 50 day simple moving average is $344.72 and its two-hundred day simple moving average is $347.09. Visa Inc. has a 12 month low of $280.78 and a 12 month high of $375.51.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. The business had revenue of $10.17 billion during 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 quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.42 EPS. Analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Citigroup assumed coverage on Visa in a research report on Wednesday. They issued a “buy” rating and a $450.00 target price on the stock. Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Macquarie upped their price objective on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Finally, UBS Group restated a “buy” rating and issued a $415.00 price objective (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $392.75.

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.