Corbyn Investment Management Inc. MD Sells 68 Shares of Visa Inc. (NYSE:V)

Corbyn Investment Management Inc. MD decreased its holdings in Visa Inc. (NYSE:V) by 0.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,378 shares of the credit-card processor’s stock after selling 68 shares during the period. Visa comprises approximately 1.5% of Corbyn Investment Management Inc. MD’s investment portfolio, making the stock its 23rd biggest holding. Corbyn Investment Management Inc. MD’s holdings in Visa were worth $3,953,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of V. Peterson Financial Group Inc. bought a new position in shares of Visa during the third quarter worth approximately $26,000. POM Investment Strategies LLC increased its stake in shares of Visa by 970.0% during 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 period. Reston Wealth Management LLC bought a new position in shares of Visa during the third quarter worth approximately $31,000. TruNorth Capital Management LLC increased its stake in shares of Visa by 211.9% during the second 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 period. Finally, Bbjs Financial Advisors LLC bought a new position in shares of Visa during the second quarter worth approximately $35,000. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

V has been the topic of a number of recent research reports. Oppenheimer reiterated an “outperform” rating and set a $321.00 target price (up previously from $318.00) on shares of Visa in a research note on Wednesday, October 30th. William Blair upgraded Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Barclays raised their price objective on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. BMO Capital Markets raised their price objective on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler raised their price objective on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Trading Up 0.5 %

Shares of V stock opened at $309.64 on Monday. The firm has a market capitalization of $564.26 billion, a P/E ratio of 31.82, a P/E/G ratio of 2.07 and a beta of 0.95. Visa Inc. has a twelve month low of $245.60 and a twelve month high of $312.44. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The stock’s fifty day simple moving average is $287.04 and its 200 day simple moving average is $276.01.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.33 EPS. As a group, sell-side analysts predict that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.76%. Visa’s payout ratio is presently 24.25%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated 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 transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 94.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

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.