Visa Inc. (NYSE:V) Shares Sold by LifePro Asset Management

LifePro Asset Management reduced its stake in shares of Visa Inc. (NYSE:V) by 53.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,080 shares of the credit-card processor’s stock after selling 2,419 shares during the period. LifePro Asset Management’s holdings in Visa were worth $486,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in shares of Visa by 7.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 84,009,523 shares of the credit-card processor’s stock valued at $17,787,336,000 after acquiring an additional 6,034,535 shares during the period. Magellan Asset Management Ltd lifted its stake in Visa by 32.1% in the 1st quarter. Magellan Asset Management Ltd now owns 12,625,802 shares of the credit-card processor’s stock valued at $2,673,261,000 after buying an additional 3,065,044 shares in the last quarter. Edgewood Management LLC lifted its stake in Visa by 17.1% in the 1st quarter. Edgewood Management LLC now owns 15,902,335 shares of the credit-card processor’s stock valued at $3,367,001,000 after buying an additional 2,326,178 shares in the last quarter. Franklin Resources Inc. lifted its stake in Visa by 19.8% in the 1st quarter. Franklin Resources Inc. now owns 12,573,336 shares of the credit-card processor’s stock valued at $2,662,156,000 after buying an additional 2,075,534 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Visa by 10.7% in the 2nd quarter. Alliancebernstein L.P. now owns 20,743,603 shares of the credit-card processor’s stock valued at $4,850,269,000 after buying an additional 2,009,038 shares in the last quarter. 81.04% of the stock is currently owned by institutional investors.

NYSE:V traded down $0.42 during trading hours on Wednesday, reaching $222.61. 204,992 shares of the company were exchanged, compared to its average volume of 8,228,104. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.00 and a quick ratio of 2.00. The firm has a market cap of $433.64 billion, a price-to-earnings ratio of 44.90, a PEG ratio of 2.00 and a beta of 0.98. Visa Inc. has a 52-week low of $179.23 and a 52-week high of $252.67. The stock has a 50 day simple moving average of $236.44 and a 200 day simple moving average of $229.52.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 27th. The credit-card processor reported $1.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.16. The company had revenue of $6.13 billion for the quarter, compared to the consensus estimate of $5.86 billion. Visa had a net margin of 47.97% and a return on equity of 35.45%. Visa’s revenue was up 26.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 earnings per share. On average, analysts predict that Visa Inc. will post 5.82 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Friday, August 13th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Thursday, August 12th. Visa’s payout ratio is currently 25.40%.

In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the firm’s stock in a transaction on Wednesday, June 30th. The shares were sold at an average price of $235.11, for a total transaction of $2,115,990.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rajat Taneja sold 42,336 shares of the firm’s stock in a transaction on Tuesday, July 6th. The stock was sold at an average price of $240.00, for a total transaction of $10,160,640.00. The disclosure for this sale can be found here. Insiders sold 84,813 shares of company stock valued at $20,342,613 in the last three months. Company insiders own 0.19% of the company’s stock.

V has been the subject of several research reports. Piper Sandler lifted their target price on shares of Visa from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Wednesday, July 28th. Truist Securities lifted their target price on shares of Visa from $250.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. Wedbush boosted their price target on shares of Visa from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 28th. Susquehanna Bancshares boosted their price target on shares of Visa from $265.00 to $290.00 and gave the stock a “positive” rating in a research note on Wednesday, July 28th. Finally, Wells Fargo & Company lifted their price objective on shares of Visa from $265.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 28th. One research analyst has rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $271.52.

Visa Profile

Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global ATM.

Further Reading: Institutional Investors

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V).

Institutional Ownership by Quarter for Visa (NYSE:V)

Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.