Visa Inc. $V Shares Sold by Black Diamond Financial LLC

Black Diamond Financial LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 8.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,879 shares of the credit-card processor’s stock after selling 169 shares during the period. Black Diamond Financial LLC’s holdings in Visa were worth $667,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Steel Grove Capital Advisors LLC boosted its stake in shares of Visa by 10.2% during the second quarter. Steel Grove Capital Advisors LLC now owns 2,206 shares of the credit-card processor’s stock valued at $783,000 after acquiring an additional 205 shares during the last quarter. Pacific Heights Asset Management LLC lifted its position in Visa by 1.9% during the second quarter. Pacific Heights Asset Management LLC now owns 54,000 shares of the credit-card processor’s stock worth $19,173,000 after buying an additional 1,000 shares during the period. Members Trust Co lifted its position in Visa by 14.7% during the second quarter. Members Trust Co now owns 3,893 shares of the credit-card processor’s stock worth $1,382,000 after buying an additional 500 shares during the period. Family Capital Management Inc. lifted its position in Visa by 31.2% during the second quarter. Family Capital Management Inc. now owns 3,246 shares of the credit-card processor’s stock worth $1,152,000 after buying an additional 771 shares during the period. Finally, Sterling Investment Management LLC lifted its position in Visa by 11.0% during the second quarter. Sterling Investment Management LLC now owns 12,128 shares of the credit-card processor’s stock worth $4,306,000 after buying an additional 1,201 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on V shares. Truist Financial reduced their target price on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Citigroup upgraded Visa to a “strong-buy” rating in a research report on Thursday. Barclays reiterated an “overweight” rating and set a $408.00 target price (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research report on Friday. Finally, Oppenheimer increased their target price on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $392.75.

Visa Stock Performance

Visa stock opened at $347.34 on Friday. The stock’s 50-day moving average is $344.79 and its 200-day moving average is $347.60. The company has a market cap of $636.60 billion, a price-to-earnings ratio of 33.92, a price-to-earnings-growth ratio of 2.05 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 12 month low of $280.78 and a 12 month high of $375.51.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion for 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 quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the business posted $2.42 EPS. Equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is 23.05%.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares in the company, 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. Company insiders own 0.13% of the company’s stock.

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.