Visa Inc. $V Shares Sold by Greenland Capital Management LP

Greenland Capital Management LP lessened its holdings in shares of Visa Inc. (NYSE:V) by 56.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,449 shares of the credit-card processor’s stock after selling 8,231 shares during the period. Greenland Capital Management LP’s holdings in Visa were worth $2,213,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of V. Cresta Advisors Ltd. acquired a new position in shares of Visa during the 4th quarter worth approximately $26,000. Parvin Asset Management LLC increased its holdings in shares of Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 50 shares during the last quarter. Virtus Advisers LLC acquired a new stake in shares of Visa in the second quarter valued at approximately $33,000. RHL Group LLC purchased a new position in Visa during the fourth quarter worth approximately $34,000. Finally, Timmons Wealth Management LLC purchased a new position in Visa during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

In other Visa news, insider Tullier Kelly Mahon sold 57,272 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $364.97, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred 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 owned 18,404 shares of the company’s stock, valued at $6,625,440. This trade represents a 9.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 90,759 shares of company stock valued at $32,375,779. Corporate insiders own 0.12% of the company’s stock.

Visa Stock Up 1.5%

Visa stock opened at $371.09 on Friday. The company has a market capitalization of $662.18 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 1.99 and a beta of 0.74. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.99 and a current ratio of 0.99. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $373.97. The firm has a 50 day moving average price of $353.73 and a 200 day moving average price of $329.64.

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

Visa declared that its board has approved a stock buyback program on Tuesday, April 28th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the credit-card processor to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Visa Dividend Announcement

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 paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $2.68 annualized dividend and a yield of 0.7%. Visa’s dividend payout ratio is presently 22.79%.

Wall Street Analyst Weigh In

V has been the subject of several analyst reports. TD Cowen restated a “buy” rating on shares of Visa in a report on Wednesday, July 29th. Erste Group Bank upgraded Visa from a “hold” rating to a “buy” rating in a report on Monday, July 27th. Wells Fargo & Company reiterated an “overweight” rating and set a $432.00 price target (up from $412.00) on shares of Visa in a report on Thursday, July 30th. Cantor Fitzgerald set a $445.00 price target on shares of Visa and gave the company an “overweight” rating in a research report on Monday, August 3rd. Finally, Piper Sandler reissued an “overweight” rating and issued a $430.00 price objective (up from $394.00) on shares of Visa in a report on Wednesday, July 29th. Seven investment analysts have rated the stock with a Strong Buy rating and twenty-four have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $413.58.

Visa Company Profile

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.