Winthrop Advisory Group LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 13.5% during the third quarter, HoldingsChannel reports. The firm owned 6,066 shares of the credit-card processor’s stock after buying an additional 721 shares during the period. Winthrop Advisory Group LLC’s holdings in Visa were worth $1,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in V. Creative Financial Designs Inc. ADV boosted its stake in shares of Visa by 2.0% in the second quarter. Creative Financial Designs Inc. ADV now owns 2,118 shares of the credit-card processor’s stock worth $495,000 after acquiring an additional 42 shares during the period. G&S Capital LLC lifted its stake in shares of Visa by 1.8% in the 2nd quarter. G&S Capital LLC now owns 2,429 shares of the credit-card processor’s stock valued at $568,000 after purchasing an additional 43 shares during the last quarter. Founders Capital Management lifted its stake in shares of Visa by 2.9% in the 2nd quarter. Founders Capital Management now owns 1,600 shares of the credit-card processor’s stock valued at $374,000 after purchasing an additional 45 shares during the last quarter. CapWealth Advisors LLC lifted its stake in shares of Visa by 4.4% in the 2nd quarter. CapWealth Advisors LLC now owns 1,067 shares of the credit-card processor’s stock valued at $249,000 after purchasing an additional 45 shares during the last quarter. Finally, IPG Investment Advisors LLC lifted its stake in shares of Visa by 1.2% in the 2nd quarter. IPG Investment Advisors LLC now owns 3,916 shares of the credit-card processor’s stock valued at $916,000 after purchasing an additional 45 shares during the last quarter. 80.54% of the stock is currently owned by hedge funds and other institutional investors.
In related news, President Ryan Mcinerney sold 11,193 shares of Visa stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $229.10, for a total value of $2,564,316.30. Following the completion of the transaction, the president now owns 11,193 shares in the company, valued at approximately $2,564,316.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of Visa stock in a transaction dated Friday, October 29th. The shares were sold at an average price of $208.57, for a total value of $1,877,130.00. The disclosure for this sale can be found here. Insiders have sold a total of 51,580 shares of company stock valued at $11,376,866 in the last quarter. Company insiders own 0.19% of the company’s stock.
Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 26th. The credit-card processor reported $1.62 EPS for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.09. Visa had a return on equity of 37.62% and a net margin of 51.07%. The company had revenue of $6.56 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter in the previous year, the firm posted $1.12 EPS. The firm’s revenue was up 28.6% compared to the same quarter last year. As a group, equities analysts forecast that Visa Inc. will post 7.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 7th. Shareholders of record on Friday, November 12th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Wednesday, November 10th. This represents a $1.50 dividend on an annualized basis and a yield of 0.74%. This is a boost from Visa’s previous quarterly dividend of $0.32. Visa’s payout ratio is currently 26.64%.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded Visa from a “buy” rating to a “hold” rating and set a $227.00 price target on the stock. in a report on Thursday, October 28th. UBS Group assumed coverage on Visa in a report on Thursday, November 18th. They issued a “buy” rating and a $275.00 price target on the stock. Truist raised their price objective on Visa from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Susquehanna raised their price objective on Visa from $265.00 to $290.00 and gave the stock a “positive” rating in a report on Wednesday, July 28th. Finally, Piper Sandler raised their price objective on Visa from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Wednesday, July 28th. Two research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $270.11.
Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global ATM.
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