Envestnet Asset Management Inc. Lowers Stock Holdings in Visa Inc. $V

Envestnet Asset Management Inc. cut its holdings in Visa Inc. (NYSE:VFree Report) by 5.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 3,920,611 shares of the credit-card processor’s stock after selling 233,239 shares during the period. Envestnet Asset Management Inc.’s holdings in Visa were worth $1,345,118,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. State Street Corp grew its position in Visa by 0.7% during the second quarter. State Street Corp now owns 82,872,209 shares of the credit-card processor’s stock valued at $28,432,626,000 after acquiring an additional 566,194 shares during the period. Talon Private Wealth LLC lifted its stake in shares of Visa by 100.7% in the 2nd quarter. Talon Private Wealth LLC now owns 14,479 shares of the credit-card processor’s stock valued at $4,968,000 after purchasing an additional 7,265 shares in the last quarter. Marathon Wealth Advisors LLC lifted its stake in shares of Visa by 1.3% in the 2nd quarter. Marathon Wealth Advisors LLC now owns 18,744 shares of the credit-card processor’s stock valued at $6,431,000 after purchasing an additional 239 shares in the last quarter. U S Wealth Group LLC. grew its holdings in shares of Visa by 18.7% during the 2nd quarter. U S Wealth Group LLC. now owns 8,866 shares of the credit-card processor’s stock worth $3,042,000 after purchasing an additional 1,399 shares during the period. Finally, Junto Capital Management LP purchased a new stake in shares of Visa during the 2nd quarter worth about $158,480,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on V shares. TD Cowen restated a “buy” rating on shares of Visa in a report on Wednesday, July 29th. BMO Capital Markets increased their price objective on shares of Visa from $387.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Cantor Fitzgerald set a $445.00 target price on shares of Visa and gave the company an “overweight” rating in a research note on Monday, August 3rd. Raymond James Financial restated an “outperform” rating and set a $406.00 target price on shares of Visa in a report on Wednesday, July 29th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $460.00 price target (up from $435.00) on shares of Visa in a research report on Tuesday, August 25th. Seven equities research analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the company’s stock. According to MarketBeat, Visa currently has an average rating of “Buy” and an average price target of $416.62.

Check Out Our Latest Research Report on Visa

Visa Stock Down 0.2%

Visa stock traded down $0.67 during midday trading on Wednesday, hitting $361.37. 5,125,151 shares of the company were exchanged, compared to its average volume of 7,716,233. The company’s fifty day moving average price is $367.93 and its 200-day moving average price is $337.88. The company has a market cap of $644.84 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 1.98 and a beta of 0.76. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.99. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $385.57.

Visa (NYSE:VGet Free Report) last released its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, topping analysts’ consensus estimates of $3.23 by $0.09. Visa had a return on equity of 67.68% and a net margin of 50.78%.The firm had revenue of $11.63 billion during the quarter, compared to analysts’ expectations of $11.40 billion. During the same quarter in the prior year, the business earned $2.98 EPS. Visa’s quarterly revenue was up 14.4% compared to the same quarter last year. On average, research analysts predict that Visa Inc. will post 13.16 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 11th were given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 11th. Visa’s payout ratio is presently 22.79%.

Insider Activity

In other news, General Counsel Julie Rottenberg sold 2,028 shares of the company’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $381.35, for a total value of $773,377.80. Following the completion of the transaction, the general counsel directly owned 18,404 shares in the company, valued at approximately $7,018,365.40. This represents a 9.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 20,970 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $340.25, for a total transaction of $7,135,042.50. Following the sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,162,953.50. The trade was a 58.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 106,404 shares of company stock worth $38,228,528. 0.12% of the stock is currently owned by company insiders.

Key Visa News

Here are the key news stories impacting Visa this week:

  • Positive Sentiment: Brokerages maintain an average “Buy” rating on Visa, supporting investor confidence in the company’s earnings outlook and long-term growth prospects. Visa Inc. Given Average Rating of Buy by Brokerages
  • Positive Sentiment: Visa and travel-platform Klook signed a memorandum of understanding covering six Southeast Asian markets. The agreement is expected to support card usage through travel offers, creator programs and in-destination promotions, although it does not disclose a material financial commitment. Klook and Visa Partner Across Six Southeast Asian Markets
  • Positive Sentiment: Visa is supporting Moov’s new Moov Money real-time person-to-person payment service, expanding the potential use of eligible Visa debit cards for digital money transfers. Visa and Mastercard Help Moov Launch P2P Payment Solution
  • Positive Sentiment: Visa’s blockchain strategy is gaining attention after reportedly processing $20 billion in stablecoin transactions and joining Circle’s Arc blockchain as a founding validator. The move could strengthen Visa’s position in stablecoin infrastructure and digital settlement services. Visa Settled $20B in Stablecoins
  • Positive Sentiment: UPT plans to use Visa’s Currencycloud and Visa Direct capabilities to offer corporate customers virtual euro and pound IBANs, potentially increasing cross-border payment volume and services revenue. UPT to Launch Virtual IBAN Service

About Visa

(Free Report)

Visa Inc is a global payments technology company that operates one of the world’s largest electronic payment networks. The company connects consumers, businesses, financial institutions and governments, enabling transactions through credit, debit, prepaid and commercial payment products. Visa generally does not issue cards, extend credit or set consumer interest rates; instead, it provides the network, technology and services that support payments.

Visa’s products and services include Visa-branded cards, digital payment solutions, tokenization, fraud prevention, risk management, data analytics and payment acceptance tools.

See Also

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:VFree Report).

Institutional Ownership by Quarter for Visa (NYSE:V)

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