Visa Inc. (NYSE:V) Shares Sold by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. lessened its position in Visa Inc. (NYSE:V) by 3.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,610 shares of the credit-card processor’s stock after selling 890 shares during the period. Visa makes up 1.0% of EFG Asset Management North America Corp.’s holdings, making the stock its 16th largest position. EFG Asset Management North America Corp.’s holdings in Visa were worth $5,931,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Hilltop National Bank bought a new stake in shares of Visa during the 1st quarter worth about $1,212,000. TCI Wealth Advisors Inc. boosted its position in Visa by 0.8% in the 4th quarter. TCI Wealth Advisors Inc. now owns 5,107 shares of the credit-card processor’s stock valued at $1,330,000 after buying an additional 40 shares during the last quarter. Absolute Capital Management LLC bought a new position in Visa in the 1st quarter valued at $404,000. SageView Advisory Group LLC boosted its position in Visa by 40.4% in the 4th quarter. SageView Advisory Group LLC now owns 25,137 shares of the credit-card processor’s stock valued at $6,967,000 after buying an additional 7,236 shares during the last quarter. Finally, Davidson Capital Management Inc. boosted its position in shares of Visa by 0.5% in the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after purchasing an additional 44 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Up 0.4 %

Shares of V traded up $1.16 during mid-day trading on Monday, hitting $268.60. 2,179,155 shares of the company’s stock were exchanged, compared to its average volume of 7,147,555. The company has a market cap of $491.25 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 1.89 and a beta of 0.95. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96. The stock’s 50-day moving average is $265.93 and its 200-day moving average is $273.23. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting 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 for the quarter, compared to analyst estimates of $8.92 billion. During the same period in the previous year, the firm earned $2.16 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, sell-side analysts anticipate 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. Stockholders of record on Friday, August 9th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s dividend payout ratio is currently 23.24%.

Analyst Ratings Changes

V has been the subject of several analyst reports. Macquarie restated an “outperform” rating and issued a $300.00 price objective on shares of Visa in a report on Wednesday, July 24th. Jefferies Financial Group decreased their price objective on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Evercore ISI decreased their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Bank of America reiterated a “neutral” rating and set a $297.00 price target (down from $305.00) on shares of Visa in a report on Wednesday, July 10th. Finally, Piper Sandler reduced their target price on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $308.50.

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.