Envestnet Portfolio Solutions Inc. Sells 3,450 Shares of Visa Inc. (NYSE:V)

Envestnet Portfolio Solutions Inc. decreased its position in Visa Inc. (NYSE:V) by 1.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 185,651 shares of the credit-card processor’s stock after selling 3,450 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Visa were worth $48,728,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. PGGM Investments grew its holdings in shares of Visa by 2.5% in the 2nd quarter. PGGM Investments now owns 209,099 shares of the credit-card processor’s stock worth $54,882,000 after purchasing an additional 5,065 shares during the last quarter. Key Client Fiduciary Advisors LLC grew its holdings in Visa by 19.8% during the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 1,401 shares of the credit-card processor’s stock worth $368,000 after acquiring an additional 232 shares during the last quarter. Sky Investment Group LLC grew its holdings in Visa by 4.7% during the 2nd quarter. Sky Investment Group LLC now owns 6,702 shares of the credit-card processor’s stock worth $1,759,000 after acquiring an additional 302 shares during the last quarter. Addenda Capital Inc. grew its holdings in Visa by 0.8% during the 2nd quarter. Addenda Capital Inc. now owns 75,513 shares of the credit-card processor’s stock worth $19,820,000 after acquiring an additional 591 shares during the last quarter. Finally, ORG Partners LLC grew its holdings in Visa by 776.2% during the 2nd quarter. ORG Partners LLC now owns 5,923 shares of the credit-card processor’s stock worth $1,561,000 after acquiring an additional 5,247 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.4 %

Shares of NYSE:V traded up $0.95 during midday trading on Wednesday, hitting $261.08. The stock had a trading volume of 8,552,058 shares, compared to its average volume of 7,239,547. Visa Inc. has a 12 month low of $227.78 and a 12 month high of $290.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The business’s 50-day simple moving average is $266.84 and its 200-day simple moving average is $273.69. The company has a market cap of $475.77 billion, a P/E ratio of 29.17, a PEG ratio of 1.83 and a beta of 0.95.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same period last year, the business earned $2.16 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. On average, sell-side analysts forecast that Visa Inc. will post 9.91 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.80%. Visa’s dividend payout ratio (DPR) is 23.24%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on V. Citigroup decreased their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Bank of America reaffirmed a “neutral” rating and issued a $297.00 target price (down previously from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Royal Bank of Canada reduced their target price on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Oppenheimer raised their target price on shares of Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, Piper Sandler reduced their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $307.25.

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.