Gerber Kawasaki Wealth & Investment Management Sells 80 Shares of Visa Inc. (NYSE:V)

Gerber Kawasaki Wealth & Investment Management lowered its stake in shares of Visa Inc. (NYSE:V) by 1.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,295 shares of the credit-card processor’s stock after selling 80 shares during the period. Gerber Kawasaki Wealth & Investment Management’s holdings in Visa were worth $1,194,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in V. Financial Freedom LLC bought a new position in Visa during the fourth quarter worth about $32,000. Ridgewood Investments LLC bought a new position in shares of Visa during the 1st quarter valued at about $35,000. Kalos Management Inc. bought a new position in shares of Visa during the 1st quarter valued at about $40,000. NewSquare Capital LLC lifted its holdings in shares of Visa by 121.9% during the 1st quarter. NewSquare Capital LLC now owns 213 shares of the credit-card processor’s stock valued at $48,000 after purchasing an additional 117 shares in the last quarter. Finally, Moisand Fitzgerald Tamayo LLC lifted its holdings in shares of Visa by 666.7% during the 1st quarter. Moisand Fitzgerald Tamayo LLC now owns 230 shares of the credit-card processor’s stock valued at $52,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 81.35% of the company’s stock.

Visa Stock Down 0.0 %

V stock opened at $247.16 on Wednesday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $460.17 billion, a PE ratio of 31.37, a PEG ratio of 1.86 and a beta of 0.95. Visa Inc. has a 1-year low of $174.60 and a 1-year high of $248.87. The business’s 50 day simple moving average is $241.36 and its 200 day simple moving average is $231.87.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.05. The business had revenue of $8.12 billion during the quarter, compared to the consensus estimate of $8.06 billion. Visa had a return on equity of 49.42% and a net margin of 51.94%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.98 EPS. As a group, research analysts anticipate that Visa Inc. will post 8.65 EPS for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $1.80 annualized dividend and a yield of 0.73%. Visa’s dividend payout ratio (DPR) is presently 22.84%.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 24,025 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total transaction of $5,766,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Ryan Mcinerney sold 24,025 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total transaction of $5,766,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rajat Taneja sold 2,300 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total value of $552,000.00. Following the sale, the insider now owns 232,112 shares of the company’s stock, valued at $55,706,880. The disclosure for this sale can be found here. Insiders sold 65,750 shares of company stock worth $15,845,648 in the last ninety days. 0.22% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wedbush reiterated an “outperform” rating and set a $270.00 price objective on shares of Visa in a report on Thursday, August 31st. StockNews.com assumed coverage on Visa in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Susquehanna lifted their target price on Visa from $266.00 to $300.00 in a research report on Wednesday, July 26th. Truist Financial lifted their target price on Visa from $270.00 to $275.00 in a research report on Wednesday, July 26th. Finally, Credit Suisse Group lifted their target price on Visa from $265.00 to $275.00 in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $273.77.

Visa Profile

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.