Larson Financial Group LLC Sells 683 Shares of Visa Inc. (NYSE:V)

Larson Financial Group LLC reduced its position in shares of Visa Inc. (NYSE:V) by 3.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 17,030 shares of the credit-card processor’s stock after selling 683 shares during the quarter. Larson Financial Group LLC’s holdings in Visa were worth $4,682,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Sompo Asset Management Co. Ltd. raised its stake in Visa by 2.9% in the third quarter. Sompo Asset Management Co. Ltd. now owns 49,205 shares of the credit-card processor’s stock valued at $13,529,000 after buying an additional 1,374 shares during the period. Baltimore Washington Financial Advisors Inc. raised its stake in Visa by 3.1% in the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 87,061 shares of the credit-card processor’s stock valued at $23,937,000 after acquiring an additional 2,632 shares during the period. Family Capital Management Inc. lifted its holdings in Visa by 4.8% during the 3rd quarter. Family Capital Management Inc. now owns 1,956 shares of the credit-card processor’s stock valued at $538,000 after purchasing an additional 89 shares during the last quarter. Lane & Associates LLC boosted its position in Visa by 1.5% during the third quarter. Lane & Associates LLC now owns 2,579 shares of the credit-card processor’s stock worth $709,000 after purchasing an additional 37 shares during the period. Finally, Truepoint Inc. increased its holdings in shares of Visa by 7.8% in the third quarter. Truepoint Inc. now owns 2,009 shares of the credit-card processor’s stock valued at $552,000 after purchasing an additional 145 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on V. BMO Capital Markets raised their target price on shares of Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Piper Sandler increased their target price on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Finally, TD Cowen increased their price objective on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Stock Performance

Visa stock opened at $309.92 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The stock has a market cap of $577.34 billion, a PE ratio of 31.85, a P/E/G ratio of 2.08 and a beta of 0.95. Visa Inc. has a 12-month low of $251.61 and a 12-month high of $312.44. The business’s 50-day moving average price is $289.52 and its two-hundred day moving average price is $277.34.

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

Visa Increases Dividend

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

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 94.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

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.