Rehmann Capital Advisory Group Sells 159 Shares of Visa Inc. (NYSE:V)

Rehmann Capital Advisory Group cut its position in shares of Visa Inc. (NYSE:V) by 1.4% in the third quarter, HoldingsChannel reports. The firm owned 11,325 shares of the credit-card processor’s stock after selling 159 shares during the period. Rehmann Capital Advisory Group’s holdings in Visa were worth $3,116,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other news, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on V shares. TD Cowen boosted their target price on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Bank of America boosted their price objective on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Royal Bank of Canada raised their target price on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler raised their price objective on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Citigroup increased their price target on Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $324.74.

Visa Price Performance

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

Visa (NYSE:V) last posted 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 return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the company earned $2.33 earnings per share. Visa’s revenue for the quarter was up 11.7% compared to the same quarter last year. Research analysts predict that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were paid a $0.59 dividend. This is a boost from Visa’s previous quarterly dividend of $0.52. 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. Visa’s 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.