Sei Investments Co. Cuts Holdings in Visa Inc. $V

Sei Investments Co. reduced its holdings in Visa Inc. (NYSE:V) by 0.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,846,896 shares of the credit-card processor’s stock after selling 3,224 shares during the quarter. Visa comprises 0.5% of Sei Investments Co.’s investment portfolio, making the stock its 28th biggest holding. Sei Investments Co. owned 0.10% of Visa worth $558,205,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC increased its holdings in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after buying an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after acquiring an additional 4,817 shares in the last quarter. Nicholas Hoffman & Company LLC. grew its holdings in shares of Visa by 4.6% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock worth $3,834,000 after acquiring an additional 477 shares during the period. Matrix Asset Advisors Inc. NY grew its holdings in shares of Visa by 16.9% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock worth $402,000 after acquiring an additional 164 shares during the period. Finally, Schnieders Capital Management LLC. increased its stake in Visa by 13.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock valued at $6,521,000 after purchasing an additional 2,230 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Chris Suh sold 10,639 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the transaction, the chief financial officer owned 9,872 shares of the company’s stock, valued at approximately $3,206,524.32. This represents a 51.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total transaction of $729,720.00. Following the sale, the general counsel owned 18,404 shares in the company, valued at approximately $6,625,440. This trade represents a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 75,581 shares of company stock valued at $25,627,975 in the last ninety days. Insiders own 0.12% of the company’s stock.

Visa Stock Performance

Visa stock opened at $353.10 on Thursday. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $365.14. The company has a market capitalization of $633.38 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 1.89 and a beta of 0.75. The stock has a fifty day moving average of $336.39 and a two-hundred day moving average of $325.10. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.21. The business had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The business’s revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.76 earnings per share. On average, analysts anticipate that Visa Inc. will post 13.13 EPS for the current fiscal year.

Visa announced that its board has initiated a stock repurchase program on Tuesday, April 28th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the credit-card processor to buy up to 3.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, May 12th. Visa’s dividend payout ratio is 23.34%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and set a $403.00 price objective (up from $391.00) on shares of Visa in a report on Wednesday, April 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price target on shares of Visa in a research report on Wednesday, April 29th. Clear Str raised Visa to a “strong-buy” rating in a research note on Thursday, July 16th. BNP Paribas Exane upgraded shares of Visa to a “strong-buy” rating in a research report on Tuesday. Finally, Robert W. Baird set a $412.00 price objective on shares of Visa and gave the company an “outperform” rating in a research note on Monday, July 6th. Eight research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $398.36.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.