Spinnaker Trust Sells 177 Shares of Visa Inc. (NYSE:V)

Spinnaker Trust decreased its position in Visa Inc. (NYSE:V) by 0.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 29,521 shares of the credit-card processor’s stock after selling 177 shares during the quarter. Spinnaker Trust’s holdings in Visa were worth $8,117,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in V. Donald L. Hagan LLC boosted its position in Visa by 32.1% in the third quarter. Donald L. Hagan LLC now owns 1,366 shares of the credit-card processor’s stock valued at $376,000 after buying an additional 332 shares in the last quarter. Maia Wealth LLC boosted its holdings in shares of Visa by 11.5% in the 3rd quarter. Maia Wealth LLC now owns 9,109 shares of the credit-card processor’s stock worth $2,580,000 after acquiring an additional 943 shares in the last quarter. Umpqua Bank boosted its holdings in shares of Visa by 2.2% in the 3rd quarter. Umpqua Bank now owns 9,610 shares of the credit-card processor’s stock worth $2,642,000 after acquiring an additional 208 shares in the last quarter. Foster & Motley Inc. grew its position in Visa by 81.3% during the 3rd quarter. Foster & Motley Inc. now owns 10,301 shares of the credit-card processor’s stock worth $2,832,000 after acquiring an additional 4,620 shares during the last quarter. Finally, Harvest Portfolios Group Inc. raised its position in Visa by 4.7% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 69,056 shares of the credit-card processor’s stock valued at $18,987,000 after purchasing an additional 3,071 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on V. Compass Point initiated coverage on Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price for the company. Piper Sandler upped their target price on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Oppenheimer reissued an “outperform” rating and issued a $321.00 price target (up previously from $318.00) on shares of Visa in a report on Wednesday, October 30th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. Finally, Barclays boosted their price target on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research note on Monday. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $321.74.

Visa Trading Up 4.8 %

NYSE V opened at $307.36 on Thursday. The stock has a market capitalization of $560.11 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 1.96 and a beta of 0.95. Visa Inc. has a 52 week low of $240.97 and a 52 week high of $309.00. The stock’s 50 day moving average price is $282.69 and its two-hundred day moving average price is $274.20. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the prior year, the company posted $2.33 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis. As a group, analysts anticipate that Visa Inc. will post 11.18 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a $0.59 dividend. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. Visa’s dividend payout ratio (DPR) is presently 21.38%.

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.