Los Angeles Capital Management LLC Sells 608,499 Shares of Visa Inc. (NYSE:V)

Los Angeles Capital Management LLC reduced its position in Visa Inc. (NYSE:V) by 42.7% in the 2nd quarter, Holdings Channel reports. The firm owned 815,699 shares of the credit-card processor’s stock after selling 608,499 shares during the quarter. Visa comprises approximately 0.8% of Los Angeles Capital Management LLC’s investment portfolio, making the stock its 23rd biggest position. Los Angeles Capital Management LLC’s holdings in Visa were worth $214,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hilltop National Bank acquired a new position in Visa during the first quarter worth $1,212,000. Absolute Capital Management LLC acquired a new stake in shares of Visa in the first quarter valued at $404,000. SageView Advisory Group LLC increased its stake in shares of Visa by 40.4% in the fourth 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 in the last quarter. Davidson Capital Management Inc. increased its stake in shares of Visa by 0.5% in the first quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock valued at $2,588,000 after buying an additional 44 shares in the last quarter. Finally, Empirical Finance LLC increased its stake in shares of Visa by 4.4% in the first quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock valued at $12,761,000 after buying an additional 1,914 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on V. Bank of America restated a “neutral” rating and issued a $297.00 target price (down from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Piper Sandler lowered their price objective on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research report on Tuesday. Morgan Stanley lowered their price objective on Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Finally, Evercore ISI lowered their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $309.54.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is owned by insiders.

Visa Stock Up 0.3 %

Shares of NYSE:V traded up $0.75 during trading on Friday, hitting $279.37. 7,187,805 shares of the company were exchanged, compared to its average volume of 7,125,969. The stock has a market cap of $509.10 billion, a price-to-earnings ratio of 31.23, a P/E/G ratio of 1.98 and a beta of 0.96. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96. The firm has a fifty day moving average price of $266.53 and a two-hundred day moving average price of $273.14. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.16 EPS. As a group, research analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s payout ratio is presently 23.24%.

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.