Wintrust Investments LLC Sells 8,866 Shares of Visa Inc. (NYSE:V)

Wintrust Investments LLC lessened its holdings in Visa Inc. (NYSE:V) by 28.2% in the second quarter, Holdings Channel reports. The firm owned 22,623 shares of the credit-card processor’s stock after selling 8,866 shares during the period. Wintrust Investments LLC’s holdings in Visa were worth $5,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Danda Trouve Investment Management Inc. purchased a new stake in shares of Visa during the 2nd quarter worth approximately $25,000. Baldrige Asset Management LLC purchased a new stake in Visa in the second quarter worth $40,000. FFT Wealth Management LLC bought a new stake in shares of Visa in the second quarter valued at $46,000. Financial Management Professionals Inc. raised its stake in shares of Visa by 38.9% in the second quarter. Financial Management Professionals Inc. now owns 207 shares of the credit-card processor’s stock valued at $48,000 after buying an additional 58 shares during the period. Finally, Harvest Group Wealth Management LLC purchased a new position in shares of Visa during the 2nd quarter valued at $50,000. 81.04% of the stock is owned by hedge funds and other institutional investors.

NYSE V traded down $0.36 during trading on Wednesday, hitting $222.67. 125,273 shares of the company’s stock traded hands, compared to its average volume of 8,228,104. The stock has a fifty day moving average of $236.44 and a two-hundred day moving average of $229.52. Visa Inc. has a 12-month low of $179.23 and a 12-month high of $252.67. The firm has a market cap of $433.75 billion, a P/E ratio of 44.90, a PEG ratio of 2.00 and a beta of 0.98. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.00 and a quick ratio of 2.00.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 27th. The credit-card processor reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.16. The company had revenue of $6.13 billion during the quarter, compared to analysts’ expectations of $5.86 billion. Visa had a return on equity of 35.45% and a net margin of 47.97%. Visa’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.07 EPS. As a group, analysts expect that Visa Inc. will post 5.82 earnings per share for the current fiscal year.

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

In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the business’s stock in a transaction dated Friday, July 30th. The shares were sold at an average price of $247.21, for a total transaction of $2,224,890.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Tullier Kelly Mahon sold 2,091 shares of Visa stock in a transaction that occurred on Wednesday, July 28th. The shares were sold at an average price of $248.71, for a total transaction of $520,052.61. Following the transaction, the executive vice president now owns 32,055 shares of the company’s stock, valued at $7,972,399.05. The disclosure for this sale can be found here. Insiders have sold a total of 84,813 shares of company stock valued at $20,342,613 over the last quarter. 0.19% of the stock is currently owned by company insiders.

A number of equities research analysts recently issued reports on V shares. Piper Sandler boosted their price objective on Visa from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Wednesday, July 28th. Truist Securities upped their price target on shares of Visa from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. Robert W. Baird raised their price objective on shares of Visa from $282.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, July 15th. Wedbush boosted their target price on shares of Visa from $250.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday, July 28th. Finally, Daiwa Capital Markets lowered Visa from an “outperform” rating to a “neutral” rating and set a $250.00 price target for the company. in a report on Thursday, August 12th. One analyst has rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus 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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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