Absoluto Partners Gestao de Recursos Ltda Lowers Position in Visa Inc. (NYSE:V)

Absoluto Partners Gestao de Recursos Ltda lessened its holdings in shares of Visa Inc. (NYSE:V) by 17.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,144 shares of the credit-card processor’s stock after selling 1,312 shares during the quarter. Visa comprises 1.0% of Absoluto Partners Gestao de Recursos Ltda’s investment portfolio, making the stock its 15th largest position. Absoluto Partners Gestao de Recursos Ltda’s holdings in Visa were worth $1,632,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of V. Livelsberger Financial Advisory purchased a new position in shares of Visa in the 4th quarter worth about $25,000. Westend Capital Management LLC purchased a new stake in Visa in the first quarter worth approximately $25,000. POM Investment Strategies LLC grew its position in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of Visa during the fourth quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC lifted its holdings in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on 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 transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.19% of the stock is owned by insiders.

Visa Price Performance

V opened at $272.93 on Wednesday. The company’s 50-day simple moving average is $271.12 and its two-hundred day simple moving average is $273.42. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market capitalization of $497.36 billion, a P/E ratio of 30.49, a P/E/G ratio of 2.04 and a beta of 0.96. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $293.07.

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

Visa Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently commented on the company. Compass Point started coverage on Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price objective on the stock. Piper Sandler dropped their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Royal Bank of Canada dropped their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Finally, Evercore ISI decreased their target price on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Six equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.