Visa Inc. $V Shares Sold by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. lessened its stake in Visa Inc. (NYSE:V) by 4.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 25,209 shares of the credit-card processor’s stock after selling 1,106 shares during the quarter. Visa comprises 0.6% of Platinum Investment Management Ltd.’s portfolio, making the stock its 27th largest holding. Platinum Investment Management Ltd.’s holdings in Visa were worth $8,950,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in V. Keystone Global Partners LLC purchased a new stake in Visa during the first quarter worth approximately $26,000. Family Legacy Financial Solutions LLC purchased a new stake in Visa in the second quarter valued at approximately $28,000. von Borstel & Associates Inc. purchased a new stake in Visa in the first quarter valued at approximately $27,000. Cranbrook Wealth Management LLC raised its stake in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 41 shares during the last quarter. Finally, Westend Capital Management LLC raised its stake in shares of Visa by 83.1% during the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor’s stock worth $38,000 after purchasing an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Up 1.1%

Shares of V stock opened at $349.90 on Friday. Visa Inc. has a fifty-two week low of $273.24 and a fifty-two week high of $375.51. The stock has a market cap of $641.28 billion, a P/E ratio of 34.17, a P/E/G ratio of 2.07 and a beta of 0.90. The business has a fifty day simple moving average of $343.78 and a 200-day simple moving average of $346.75. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business’s revenue for the quarter 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. On average, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on 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 owned 537 shares of the company’s stock, valued at $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction 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 directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Macquarie upped their price target on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a report on Saturday, September 27th. Oppenheimer boosted their target price on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Erste Group Bank cut shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Finally, Truist Financial lowered their price target on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $385.96.

Visa Company 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.