Shaker Investments LLC OH Reduces Stock Holdings in Visa Inc. $V

Shaker Investments LLC OH lowered its position in Visa Inc. (NYSE:V) by 4.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,585 shares of the credit-card processor’s stock after selling 320 shares during the quarter. Shaker Investments LLC OH’s holdings in Visa were worth $2,693,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Visa by 14.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock valued at $159,523,000 after purchasing an additional 57,800 shares during the period. Precedent Wealth Partners LLC boosted its stake in Visa by 7.5% during the second quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock worth $564,000 after buying an additional 111 shares during the period. Consilium Wealth Advisory LLC purchased a new position in Visa during the second quarter worth about $862,000. Iron Gate Global Advisors LLC boosted its stake in Visa by 5.9% during the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock worth $22,040,000 after buying an additional 3,484 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Visa by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after buying an additional 955,392 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 target price for the company. UBS Group reaffirmed a “buy” rating and set a $415.00 target price (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Truist Financial lowered their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Finally, Barclays reaffirmed an “overweight” rating and set a $408.00 target price (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $392.75.

Insider Activity at Visa

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 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 of the company’s stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 transaction of $3,589,015.50. Following the completion of 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 disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Visa Trading Up 0.1%

NYSE V opened at $347.71 on Tuesday. The firm has a 50 day simple moving average of $344.89 and a 200-day simple moving average of $348.09. The firm has a market cap of $637.28 billion, a price-to-earnings ratio of 33.96, a PEG ratio of 2.05 and a beta of 0.90. Visa Inc. has a one year low of $281.35 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm’s revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.42 earnings per share. Equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

About Visa

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.