Trillium Asset Management LLC Has $27.96 Million Stock Position in Visa Inc. $V

Trillium Asset Management LLC lowered its stake in Visa Inc. (NYSE:V) by 33.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,502 shares of the credit-card processor’s stock after selling 41,155 shares during the period. Trillium Asset Management LLC’s holdings in Visa were worth $27,963,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. G&S Capital LLC increased its position in Visa by 4.0% during the 2nd quarter. G&S Capital LLC now owns 761 shares of the credit-card processor’s stock valued at $261,000 after purchasing an additional 29 shares during the period. NerdWallet Wealth Partners LLC boosted its position in shares of Visa by 4.5% during the 2nd quarter. NerdWallet Wealth Partners LLC now owns 695 shares of the credit-card processor’s stock worth $239,000 after purchasing an additional 30 shares in the last quarter. Planned Solutions Inc. boosted its holdings in Visa by 2.0% in the fourth quarter. Planned Solutions Inc. now owns 1,598 shares of the credit-card processor’s stock worth $560,000 after acquiring an additional 31 shares in the last quarter. Frederick Financial Consultants LLC grew its stake in Visa by 2.0% in the fourth quarter. Frederick Financial Consultants LLC now owns 1,598 shares of the credit-card processor’s stock valued at $560,000 after acquiring an additional 31 shares during the period. Finally, Kuhn & Co Investment Counsel increased its holdings in shares of Visa by 0.5% during the fourth quarter. Kuhn & Co Investment Counsel now owns 6,096 shares of the credit-card processor’s stock valued at $2,138,000 after acquiring an additional 32 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Thursday, July 2nd. The stock was 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. This represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 10,490 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $343.99, for a total value of $3,608,455.10. Following the completion of the sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at $5,219,704.26. This represents a 40.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 90,759 shares of company stock valued at $32,375,779. 0.12% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on V. BNP Paribas Exane upgraded Visa to a “strong-buy” rating in a report on Tuesday, July 21st. Cantor Fitzgerald set a $445.00 price objective on shares of Visa and gave the company an “overweight” rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. boosted their target price on shares of Visa from $400.00 to $450.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $430.00 target price on shares of Visa in a report on Wednesday, July 29th. Finally, Citigroup reiterated a “buy” rating and set a $440.00 price target (up from $400.00) on shares of Visa in a research note on Wednesday, July 29th. Seven analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $413.58.

Visa Trading Up 0.2%

Shares of Visa stock opened at $366.31 on Friday. The stock has a fifty day moving average price of $352.75 and a 200-day moving average price of $329.35. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $653.65 billion, a PE ratio of 31.15, a P/E/G ratio of 1.96 and a beta of 0.74. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $373.97.

Visa (NYSE:V) last posted its quarterly earnings data 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. The business had revenue of $11.63 billion during the quarter, compared to the consensus estimate of $11.40 billion. Visa had a net margin of 50.78% and a return on equity of 67.68%. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.98 earnings per share. Equities research analysts anticipate that Visa Inc. will post 13.16 EPS for the current year.

Visa announced that its Board of Directors has initiated a share buyback plan on Tuesday, April 28th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Visa Dividend Announcement

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