Three Seasons Wealth LLC Cuts Stock Holdings in Visa Inc. $V

Three Seasons Wealth LLC cut its stake in shares of Visa Inc. (NYSE:V) by 19.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,887 shares of the credit-card processor’s stock after selling 1,393 shares during the period. Three Seasons Wealth LLC’s holdings in Visa were worth $2,020,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Hingham Institution for Savings grew its position in Visa by 1.5% in the 2nd quarter. Hingham Institution for Savings now owns 66,150 shares of the credit-card processor’s stock worth $22,695,000 after purchasing an additional 1,000 shares in the last quarter. SMART Wealth LLC purchased a new stake in Visa in the second quarter worth $232,000. NWF Advisory Services Inc. raised its stake in Visa by 3.0% in the 2nd quarter. NWF Advisory Services Inc. now owns 38,771 shares of the credit-card processor’s stock valued at $13,302,000 after acquiring an additional 1,136 shares during the period. TD Waterhouse Canada Inc. raised its position in shares of Visa by 0.3% in the second quarter. TD Waterhouse Canada Inc. now owns 1,182,750 shares of the credit-card processor’s stock valued at $415,306,000 after purchasing an additional 3,373 shares during the period. Finally, Syntax Research Inc. raised its holdings in Visa by 16.4% during the 2nd quarter. Syntax Research Inc. now owns 1,424 shares of the credit-card processor’s stock valued at $489,000 after acquiring an additional 201 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Down 1.1%

Shares of Visa stock opened at $374.46 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $385.57. The company’s fifty day simple moving average is $363.63 and its two-hundred day simple moving average is $333.27. The company has a market cap of $668.20 billion, a P/E ratio of 31.84, a PEG ratio of 2.03 and a beta of 0.76.

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

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 11th were issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 11th. Visa’s dividend payout ratio (DPR) is presently 22.79%.

Analysts Set New Price Targets

V has been the subject of several analyst reports. Susquehanna restated a “positive” rating and issued a $427.00 target price (up from $410.00) on shares of Visa in a research note on Wednesday, July 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $430.00 price target (up from $394.00) on shares of Visa in a report on Wednesday, July 29th. Weiss Ratings upgraded shares of Visa from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 30th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $466.00 price objective (up from $412.00) on shares of Visa in a report on Monday. Finally, UBS Group reaffirmed a “buy” rating and issued a $420.00 price objective (up from $410.00) on shares of Visa in a research note on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $416.62.

Insiders Place Their Bets

In other news, insider Tullier Mahon sold 57,272 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $364.97, for a total value of $20,902,561.84. Following the transaction, the insider owned 49,662 shares in the company, valued at approximately $18,125,140.14. This represents a 53.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,028 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $381.35, for a total value of $773,377.80. Following the sale, the general counsel owned 18,404 shares in the company, valued at approximately $7,018,365.40. This represents a 9.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 104,537 shares of company stock valued at $37,540,837. 0.12% of the stock is currently owned by corporate insiders.

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.