Silvant Capital Management LLC Sells 24,809 Shares of Visa Inc. $V

by · The Markets Daily

Silvant Capital Management LLC trimmed its position in Visa Inc. (NYSE:V – Free Report) by 10.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 215,278 shares of the credit-card processor’s stock after selling 24,809 shares during the period. Visa makes up approximately 3.5% of Silvant Capital Management LLC’s holdings, making the stock its 8th biggest holding. Silvant Capital Management LLC’s holdings in Visa were worth $75,446,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Keystone Global Partners LLC bought a new stake in Visa during the 1st quarter worth approximately $26,000. von Borstel & Associates Inc. bought a new stake in Visa during the 1st quarter worth approximately $27,000. Measured Risk Portfolios Inc. bought a new stake in Visa during the 4th quarter worth approximately $47,000. Navigoe LLC bought a new stake in Visa during the 4th quarter worth approximately $53,000. Finally, O Brien Wealth Partners LLC bought a new stake in Visa during the 1st quarter worth approximately $54,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 46,214 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider directly owned 26,413 shares of the company’s stock, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,127 shares of company stock valued at $28,340,553. 0.13% of the stock is owned by corporate insiders.

Visa Price Performance

Shares of V opened at $351.19 on Wednesday. The stock has a market capitalization of $643.65 billion, a P/E ratio of 34.30, a P/E/G ratio of 2.32 and a beta of 0.94. Visa Inc. has a twelve month low of $267.67 and a twelve month high of $375.51. The company has a 50 day moving average of $347.66 and a 200-day moving average of $347.42. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V – Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.82 billion. During the same period last year, the business earned $2.42 EPS. The business’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa’s dividend payout ratio (DPR) is currently 23.05%.

Analysts Set New Price Targets

V has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 target price for the company. Jefferies Financial Group increased their target price on Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research note on Tuesday, May 27th. Mizuho raised Visa from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. UBS Group reissued a “buy” rating and set a $415.00 target price (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Finally, Piper Sandler raised their price target on shares of Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $380.84.

Check Out Our Latest Stock Analysis on V

About Visa

(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.

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