Visa Inc. $V Shares Sold by Studio Investment Management LLC

Studio Investment Management LLC cut its position in Visa Inc. (NYSE:V) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,819 shares of the credit-card processor’s stock after selling 44 shares during the quarter. Studio Investment Management LLC’s holdings in Visa were worth $646,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Keystone Global Partners LLC acquired a new stake in shares of Visa in the 1st quarter valued at about $26,000. von Borstel & Associates Inc. acquired a new stake in shares of Visa in the 1st quarter valued at about $27,000. Family Legacy Financial Solutions LLC acquired a new stake in Visa during the 2nd quarter worth approximately $28,000. Harbor Asset Planning Inc. acquired a new stake in Visa during the 2nd quarter worth approximately $29,000. Finally, Cranbrook Wealth Management LLC lifted its position in Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 41 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’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 completion of the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value 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. The trade was a 95.13% 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.

Analyst Upgrades and Downgrades

V has been the subject of a number of recent research reports. Robert W. Baird set a $410.00 price objective on Visa and gave the stock an “outperform” rating in a research report on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. UBS Group reaffirmed a “buy” rating and set a $415.00 price objective (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Macquarie increased 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, Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $392.75.

Visa Stock Performance

Shares of V stock opened at $345.82 on Friday. The company has a market cap of $633.81 billion, a price-to-earnings ratio of 33.77, a price-to-earnings-growth ratio of 2.04 and a beta of 0.90. The stock has a 50 day simple moving average of $344.73 and a 200-day simple moving average of $347.33. Visa Inc. has a 12-month low of $280.78 and a 12-month high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.42 EPS. On average, equities analysts forecast that Visa Inc. will post 11.3 EPS 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 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s dividend payout ratio is 23.05%.

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.