Capital Asset Advisory Services LLC Reduces Stake in Visa Inc. $V

Capital Asset Advisory Services LLC lowered its holdings in Visa Inc. (NYSE:V) by 6.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 12,979 shares of the credit-card processor’s stock after selling 868 shares during the period. Capital Asset Advisory Services LLC’s holdings in Visa were worth $4,614,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Keystone Global Partners LLC purchased a new stake in Visa in the 1st quarter worth approximately $26,000. von Borstel & Associates Inc. purchased a new position in shares of Visa in the 1st quarter valued at approximately $27,000. 1 North Wealth Services LLC purchased a new position in shares of Visa in the 1st quarter valued at approximately $38,000. Anderson Financial Strategies LLC purchased a new position in shares of Visa in the 1st quarter valued at approximately $53,000. Finally, O Brien Wealth Partners LLC purchased a new position in shares of Visa in the 1st quarter valued at approximately $54,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,630 shares of the business’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction 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 owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Visa Stock Down 1.2%

Shares of NYSE:V opened at $339.33 on Friday. The stock has a fifty day simple moving average of $347.03 and a two-hundred day simple moving average of $346.92. The stock has a market capitalization of $621.92 billion, a price-to-earnings ratio of 33.14, a PEG ratio of 2.29 and a beta of 0.92. Visa Inc. has a 12-month low of $268.23 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 posted its quarterly 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. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter in the previous year, the business earned $2.42 earnings per share. The company’s revenue was up 14.3% on a year-over-year basis. On average, research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently commented on V shares. Deutsche Bank Aktiengesellschaft started coverage on Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 target price for the company. Barclays restated an “overweight” rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Oppenheimer raised their target price on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Truist Financial lowered their price objective on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Finally, Citigroup assumed coverage on Visa in a research note on Monday, June 2nd. They set a “buy” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $385.96.

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.