Johnson Financial Group LLC Trims Stock Position in Visa Inc. $V

by · The Markets Daily

Johnson Financial Group LLC lessened its holdings in Visa Inc. (NYSE:V – Free Report) by 52.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,085 shares of the credit-card processor’s stock after selling 1,178 shares during the period. Johnson Financial Group LLC’s holdings in Visa were worth $385,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Semus Wealth Partners LLC lifted its stake in Visa by 0.8% during the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock worth $1,209,000 after acquiring an additional 29 shares in the last quarter. BankPlus Wealth Management LLC increased its stake in Visa by 0.9% during the 2nd quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock worth $1,185,000 after buying an additional 29 shares during the period. Transcendent Capital Group LLC lifted its holdings in Visa by 2.9% during the 2nd quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock worth $360,000 after buying an additional 29 shares in the last quarter. Valued Retirements Inc. boosted its position in Visa by 4.3% in the 1st quarter. Valued Retirements Inc. now owns 728 shares of the credit-card processor’s stock valued at $255,000 after buying an additional 30 shares during the period. Finally, Interchange Capital Partners LLC increased its position in shares of Visa by 0.5% during the second quarter. Interchange Capital Partners LLC now owns 6,413 shares of the credit-card processor’s stock worth $2,276,000 after acquiring an additional 30 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

V stock opened at $329.89 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market cap of $600.98 billion, a P/E ratio of 32.31, a PEG ratio of 2.00 and a beta of 0.87. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The stock’s 50 day moving average price is $342.16 and its 200 day moving average price is $348.71.

Visa (NYSE:V – Get Free Report) last posted its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. The firm had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.71 EPS. On average, sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio is presently 26.25%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on V. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. KeyCorp reiterated an “overweight” rating and set a $405.00 target price on shares of Visa in a research report on Wednesday, October 22nd. Raymond James Financial reissued an “outperform” rating and set a $408.00 price objective (up from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Wells Fargo & Company raised Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Four analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $400.00.

View Our Latest Report on Visa

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,117. This represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Lloyd Carney sold 900 shares of Visa stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the sale, the director owned 2,468 shares of the company’s stock, valued at $830,432.64. This trade represents a 26.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 21,870 shares of company stock valued at $7,467,233 over the last quarter. 0.13% of the stock is currently owned by insiders.

Visa Profile

(Free Report)

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.

Further Reading

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