Visa Inc. $V Shares Sold by Altarock Partners LP

Altarock Partners LP lessened its position in shares of Visa Inc. (NYSE:V) by 37.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 535,412 shares of the credit-card processor’s stock after selling 315,000 shares during the quarter. Visa accounts for 3.5% of Altarock Partners LP’s portfolio, making the stock its 6th largest position. Altarock Partners LP’s holdings in Visa were worth $190,098,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Ameriprise Financial Inc. lifted its holdings in shares of Visa by 2.5% during the second quarter. Ameriprise Financial Inc. now owns 12,583,679 shares of the credit-card processor’s stock worth $4,466,741,000 after purchasing an additional 311,853 shares during the period. AQR Capital Management LLC raised its position in Visa by 1.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,241,348 shares of the credit-card processor’s stock worth $438,196,000 after buying an additional 21,401 shares during the last quarter. Absoluto Partners Gestao de Recursos Ltda lifted its stake in Visa by 23.3% during the 2nd quarter. Absoluto Partners Gestao de Recursos Ltda now owns 9,339 shares of the credit-card processor’s stock valued at $3,316,000 after acquiring an additional 1,764 shares during the period. Strategic Wealth Investment Group LLC boosted its holdings in shares of Visa by 1.3% in the 2nd quarter. Strategic Wealth Investment Group LLC now owns 3,705 shares of the credit-card processor’s stock valued at $1,315,000 after acquiring an additional 46 shares during the last quarter. Finally, Challenger Wealth Management boosted its holdings in shares of Visa by 6.1% in the 2nd quarter. Challenger Wealth Management now owns 6,569 shares of the credit-card processor’s stock valued at $2,332,000 after acquiring an additional 379 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the sale, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,117. The trade was a 95.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 2,172 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the transaction, the insider owned 26,413 shares of the company’s stock, valued at $8,608,789.09. This represents a 7.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 24,042 shares of company stock valued at $8,175,152. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on V. Citigroup raised shares of Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Evercore ISI set a $380.00 price objective on Visa in a research note on Friday. UBS Group set a $425.00 price objective on Visa and gave the company a “buy” rating in a report on Wednesday, October 29th. Bank of America raised Visa from a “neutral” rating to a “buy” rating and set a $382.00 target price on the stock in a report on Thursday. Finally, Robert W. Baird set a $425.00 price target on Visa in a research report on Wednesday, October 29th. Five analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $402.52.

Visa Price Performance

Shares of Visa stock opened at $347.83 on Friday. The firm has a market cap of $633.65 billion, a PE ratio of 34.07, a P/E/G ratio of 2.05 and a beta of 0.82. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average price of $337.70 and a 200 day moving average price of $345.34.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter in the prior year, the business posted $2.71 earnings per share. Visa’s revenue for the quarter was up 11.5% on a year-over-year basis. Sell-side analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th were given a dividend of $0.67 per share. This is a positive change from Visa’s previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s payout ratio is 26.25%.

Visa 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.