Invst LLC Sells 1,985 Shares of Visa Inc. (NYSE:V)

Invst LLC reduced its position in shares of Visa Inc. (NYSE:V) by 43.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,549 shares of the credit-card processor’s stock after selling 1,985 shares during the period. Invst LLC’s holdings in Visa were worth $701,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of V. Peterson Financial Group Inc. acquired a new position in shares of Visa in the 3rd quarter valued at about $26,000. POM Investment Strategies LLC grew its stake in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in Visa in the 3rd quarter worth approximately $31,000. TruNorth Capital Management LLC raised its holdings in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Visa in the 2nd quarter valued at about $35,000. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on V. Oppenheimer restated an “outperform” rating and issued a $321.00 price objective (up from $318.00) on shares of Visa in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Piper Sandler boosted their price objective on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Susquehanna increased their target price on shares of Visa from $339.00 to $375.00 and gave the stock a “positive” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods upped their price objective on Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a research note on Monday. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $324.74.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Visa Trading Up 1.3 %

V stock opened at $312.38 on Wednesday. The company has a market capitalization of $581.93 billion, a PE ratio of 32.10, a P/E/G ratio of 2.07 and a beta of 0.96. The firm’s 50-day moving average is $296.38 and its 200 day moving average is $279.98. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $317.42. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. The firm 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%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.33 earnings per share. On average, research analysts anticipate that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 24.25%.

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.