Visa Inc. (NYSE:V) Shares Sold by Alpha DNA Investment Management LLC

Alpha DNA Investment Management LLC trimmed its holdings in Visa Inc. (NYSE:V) by 45.3% during the second quarter, Holdings Channel.com reports. The fund owned 3,960 shares of the credit-card processor’s stock after selling 3,285 shares during the period. Alpha DNA Investment Management LLC’s holdings in Visa were worth $1,039,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Trinity Legacy Partners LLC grew its holdings in Visa by 1.2% during the 2nd quarter. Trinity Legacy Partners LLC now owns 17,654 shares of the credit-card processor’s stock valued at $4,634,000 after buying an additional 208 shares during the last quarter. Unisphere Establishment boosted its stake in shares of Visa by 4.1% during the second quarter. Unisphere Establishment now owns 1,520,000 shares of the credit-card processor’s stock valued at $398,954,000 after acquiring an additional 60,000 shares during the last quarter. Kingfisher Capital LLC increased its position in Visa by 0.7% during the 2nd quarter. Kingfisher Capital LLC now owns 14,913 shares of the credit-card processor’s stock worth $3,914,000 after purchasing an additional 99 shares in the last quarter. Point72 Hong Kong Ltd increased its position in Visa by 64.1% during the 2nd quarter. Point72 Hong Kong Ltd now owns 67,327 shares of the credit-card processor’s stock worth $17,671,000 after purchasing an additional 26,295 shares in the last quarter. Finally, Insigneo Advisory Services LLC raised its stake in Visa by 8.5% in the 2nd quarter. Insigneo Advisory Services LLC now owns 24,253 shares of the credit-card processor’s stock valued at $6,219,000 after purchasing an additional 1,899 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 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Down 5.4 %

Shares of Visa stock opened at $272.93 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $293.07. The business has a 50-day moving average of $271.12 and a 200-day moving average of $273.42. The company has a market capitalization of $497.36 billion, a PE ratio of 30.49, a P/E/G ratio of 2.04 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same period in the previous year, the business earned $2.16 EPS. Visa’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, equities analysts forecast that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s payout ratio is currently 23.24%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on V. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a report on Tuesday. Jefferies Financial Group cut their price target on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. William Blair raised Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Evercore ISI reduced their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Finally, Royal Bank of Canada decreased their target price on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target of $310.22.

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.