RiverPark Advisors LLC Sells 3,025 Shares of Visa Inc. $V

RiverPark Advisors LLC reduced its stake in Visa Inc. (NYSE:V) by 23.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,061 shares of the credit-card processor’s stock after selling 3,025 shares during the period. Visa comprises approximately 2.2% of RiverPark Advisors LLC’s investment portfolio, making the stock its 12th largest position. RiverPark Advisors LLC’s holdings in Visa were worth $3,572,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in V. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Visa by 14.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock worth $159,523,000 after acquiring an additional 57,800 shares during the last quarter. Precedent Wealth Partners LLC raised its stake in shares of Visa by 7.5% during the second quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock valued at $564,000 after acquiring an additional 111 shares during the last quarter. Consilium Wealth Advisory LLC acquired a new position in shares of Visa during the second quarter worth $862,000. Iron Gate Global Advisors LLC grew its stake in shares of Visa by 5.9% in 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 purchasing an additional 3,484 shares during the last quarter. Finally, NatWest Group plc grew its stake in shares of Visa by 43.8% in the second quarter. NatWest Group plc now owns 45,660 shares of the credit-card processor’s stock worth $16,212,000 after purchasing an additional 13,912 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on V. Morgan Stanley set a $398.00 price target on Visa and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Macquarie lowered their price target on shares of Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Finally, Robert W. Baird set a $425.00 price target on Visa in a report on Wednesday, October 29th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $400.00.

Visa Price Performance

Shares of V opened at $334.70 on Wednesday. The stock has a market cap of $609.74 billion, a P/E ratio of 32.78, a P/E/G ratio of 1.95 and a beta of 0.87. The business’s fifty day moving average is $340.14 and its 200 day moving average is $347.61. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same quarter last year, the company earned $2.71 earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. Sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s payout ratio is 26.25%.

Insider Buying and Selling

In other news, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the transaction, the director owned 2,468 shares in the company, valued at $830,432.64. The trade was a 26.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,117. The trade was a 95.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 24,042 shares of company stock worth $8,175,152. 0.13% of the stock is owned by insiders.

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.