Pinion Investment Advisors LLC Has $2.28 Million Position in Visa Inc. $V

Pinion Investment Advisors LLC reduced its position in shares of Visa Inc. (NYSE:V) by 0.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,413 shares of the credit-card processor’s stock after selling 46 shares during the quarter. Visa accounts for 0.8% of Pinion Investment Advisors LLC’s investment portfolio, making the stock its 27th biggest holding. Pinion Investment Advisors LLC’s holdings in Visa were worth $2,277,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Coordinated Financial Services Inc. bought a new stake in Visa in the second quarter worth $1,502,000. Moseley Investment Management Inc. boosted its holdings in Visa by 7.9% during the second quarter. Moseley Investment Management Inc. now owns 6,968 shares of the credit-card processor’s stock valued at $2,474,000 after acquiring an additional 511 shares during the period. KRS Capital Management LLC boosted its holdings in Visa by 1.6% during the second quarter. KRS Capital Management LLC now owns 3,166 shares of the credit-card processor’s stock valued at $1,124,000 after acquiring an additional 50 shares during the period. Horizon Bancorp Inc. IN boosted its holdings in Visa by 375.0% during the second quarter. Horizon Bancorp Inc. IN now owns 1,900 shares of the credit-card processor’s stock valued at $675,000 after acquiring an additional 1,500 shares during the period. Finally, IFP Advisors Inc boosted its holdings in Visa by 6.6% during the second quarter. IFP Advisors Inc now owns 43,664 shares of the credit-card processor’s stock valued at $15,628,000 after acquiring an additional 2,701 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Visa Stock Performance

NYSE:V opened at $343.05 on Tuesday. Visa Inc. has a 12-month low of $277.99 and a 12-month high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $628.73 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 2.03 and a beta of 0.90. The firm has a 50-day moving average price of $343.79 and a 200 day moving average price of $346.97.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the prior year, the business posted $2.42 earnings per share. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. Research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s dividend payout ratio is 23.05%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on V. Truist Financial reduced their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Oppenheimer increased their target price on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Morgan Stanley increased their target price on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Barclays reiterated an “overweight” rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Finally, UBS Group reiterated a “buy” rating and issued a $415.00 target price (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus price target of $389.00.

About Visa

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.