Ieq Capital LLC Sells 22,197 Shares of Visa Inc. $V

Ieq Capital LLC trimmed its position in shares of Visa Inc. (NYSE:V) by 10.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 195,446 shares of the credit-card processor’s stock after selling 22,197 shares during the period. Ieq Capital LLC’s holdings in Visa were worth $67,056,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Burnham & Co LLC bought a new stake in shares of Visa in the second quarter valued at $96,000. Robinhood Asset Management LLC purchased a new stake in Visa in the 2nd quarter worth about $11,535,000. Callan Family Office LLC raised its stake in Visa by 6.6% in the 2nd quarter. Callan Family Office LLC now owns 141,136 shares of the credit-card processor’s stock valued at $48,423,000 after acquiring an additional 8,788 shares during the period. Manhattan West Asset Management LLC raised its stake in Visa by 7.1% in the 2nd quarter. Manhattan West Asset Management LLC now owns 14,858 shares of the credit-card processor’s stock valued at $5,098,000 after acquiring an additional 990 shares during the period. Finally, Keebeck Wealth Management lifted its holdings in Visa by 4.4% during the second quarter. Keebeck Wealth Management now owns 14,606 shares of the credit-card processor’s stock valued at $5,011,000 after purchasing an additional 615 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Visa news, insider Tullier Kelly Mahon sold 57,272 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $364.97, for a total value of $20,902,561.84. Following the sale, the insider directly owned 49,662 shares in the company, valued at $18,125,140.14. This represents a 53.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total transaction of $729,720.00. Following the completion of the transaction, the general counsel directly owned 18,404 shares of the company’s stock, valued at approximately $6,625,440. The trade was a 9.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 90,759 shares of company stock worth $32,375,779 in the last three months. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on V. BNP Paribas Exane upgraded shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 21st. UBS Group reissued a “buy” rating and issued a $420.00 price target (up from $410.00) on shares of Visa in a research report on Wednesday, July 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $412.00 price objective (up from $395.00) on shares of Visa in a report on Wednesday, July 29th. JPMorgan Chase & Co. lifted their price objective on shares of Visa from $400.00 to $450.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Finally, Robert W. Baird lifted their price objective on shares of Visa from $412.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. 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. Based on data from MarketBeat, Visa presently has an average rating of “Buy” and an average price target of $413.58.

Visa Stock Up 1.5%

V stock opened at $371.09 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $662.18 billion, a PE ratio of 31.56, a PEG ratio of 1.96 and a beta of 0.74. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $373.97. The stock has a 50-day simple moving average of $353.73 and a two-hundred day simple moving average of $329.64.

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

Visa declared that its Board of Directors has authorized a share repurchase program on Tuesday, April 28th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Visa Announces Dividend

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

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.