DoubleLine ETF Adviser LP Sells 1,238 Shares of Visa Inc. (NYSE:V)

DoubleLine ETF Adviser LP reduced its holdings in shares of Visa Inc. (NYSE:V) by 4.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,145 shares of the credit-card processor’s stock after selling 1,238 shares during the quarter. Visa accounts for about 1.8% of DoubleLine ETF Adviser LP’s holdings, making the stock its 13th biggest holding. DoubleLine ETF Adviser LP’s holdings in Visa were worth $6,862,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Westend Capital Management LLC acquired a new stake in Visa during the 1st quarter worth approximately $25,000. Livelsberger Financial Advisory acquired a new position in shares of Visa during the fourth quarter worth $25,000. POM Investment Strategies LLC grew its stake in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in Visa in the fourth quarter valued at $33,000. Finally, TruNorth Capital Management LLC raised its position in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Trading Down 1.1 %

Shares of Visa stock opened at $269.84 on Thursday. The firm has a market cap of $491.73 billion, a PE ratio of 30.15, a P/E/G ratio of 2.04 and a beta of 0.96. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $293.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a fifty day moving average price of $271.12 and a 200-day moving average price of $273.42.

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 analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.16 earnings per share. Equities research analysts anticipate that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.77%. Visa’s payout ratio is presently 23.24%.

Analyst Upgrades and Downgrades

V has been the subject of several recent research reports. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a research note on Tuesday, September 3rd. TD Cowen decreased their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Morgan Stanley restated an “overweight” rating and issued a $322.00 price target on shares of Visa in a research report on Wednesday. Evercore ISI decreased their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Finally, Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a report on Tuesday. 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $310.22.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were 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 owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

About Visa

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.