Visa Inc. (NYSE:V) Shares Sold by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp lowered its position in shares of Visa Inc. (NYSE:V) by 2.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,454 shares of the credit-card processor’s stock after selling 464 shares during the quarter. Visa makes up about 1.6% of UNIVEST FINANCIAL Corp’s holdings, making the stock its 20th largest holding. UNIVEST FINANCIAL Corp’s holdings in Visa were worth $5,631,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Candriam S.C.A. lifted its position in Visa by 5.0% during the second quarter. Candriam S.C.A. now owns 831,372 shares of the credit-card processor’s stock worth $218,200,000 after buying an additional 39,568 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Visa by 7.7% in the second quarter. Private Advisor Group LLC now owns 168,507 shares of the credit-card processor’s stock valued at $44,228,000 after purchasing an additional 12,073 shares during the period. New York Life Investment Management LLC grew its holdings in shares of Visa by 0.6% in the second quarter. New York Life Investment Management LLC now owns 240,242 shares of the credit-card processor’s stock valued at $63,056,000 after purchasing an additional 1,351 shares during the period. Addison Advisors LLC boosted its holdings in Visa by 2.1% in the 2nd quarter. Addison Advisors LLC now owns 2,570 shares of the credit-card processor’s stock valued at $674,000 after purchasing an additional 53 shares during the last quarter. Finally, Arcadia Investment Management Corp MI grew its stake in shares of Visa by 1.0% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 58,129 shares of the credit-card processor’s stock valued at $15,257,000 after buying an additional 581 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on V shares. Citigroup reduced their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Compass Point initiated coverage on Visa in a research note on Wednesday. They set a “buy” rating and a $319.00 target price on the stock. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a research report on Tuesday. Finally, Bank of America reissued a “neutral” rating and set a $297.00 price target (down previously from $305.00) on shares of Visa in a research report on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $309.54.

Visa Stock Performance

Shares of NYSE V opened at $279.48 on Friday. Visa Inc. has a 12 month low of $227.78 and a 12 month high of $290.96. The company has a 50-day simple moving average of $266.53 and a 200-day simple moving average of $273.14. The company has a market cap of $509.30 billion, a PE ratio of 31.23, a price-to-earnings-growth ratio of 1.98 and a beta of 0.96. 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 (NYSE:V) last released its earnings results 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. The business had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the company earned $2.16 earnings per share. On average, equities analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

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 shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is currently owned by insiders.

Visa Company 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.