Monetta Financial Services Inc. Sells 600 Shares of Visa Inc. $V

Monetta Financial Services Inc. decreased its position in Visa Inc. (NYSE:V) by 20.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,400 shares of the credit-card processor’s stock after selling 600 shares during the period. Monetta Financial Services Inc.’s holdings in Visa were worth $852,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in V. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Visa by 14.5% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock worth $159,523,000 after purchasing an additional 57,800 shares during the period. Precedent Wealth Partners LLC boosted its position in shares of Visa by 7.5% during the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock valued at $564,000 after acquiring an additional 111 shares during the last quarter. Consilium Wealth Advisory LLC bought a new position in shares of Visa in the second quarter worth approximately $862,000. Iron Gate Global Advisors LLC raised its stake in Visa by 5.9% in the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock valued at $22,040,000 after purchasing an additional 3,484 shares in the last quarter. Finally, NatWest Group plc raised its position in shares of Visa by 43.8% during the 2nd quarter. NatWest Group plc now owns 45,660 shares of the credit-card processor’s stock valued at $16,212,000 after buying an additional 13,912 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the sale, the director directly owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. This represents a 26.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 23,897 shares of company stock valued at $8,164,561. 0.13% of the stock is currently owned by company insiders.

Visa Stock Down 0.9%

Shares of NYSE:V opened at $335.76 on Friday. The stock’s 50-day moving average is $342.43 and its 200 day moving average is $348.69. The company has a market cap of $615.37 billion, a PE ratio of 32.89, a P/E/G ratio of 2.05 and a beta of 0.87. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The firm had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same period last year, the company earned $2.71 EPS. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. Sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 26.25%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on V shares. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price objective for the company. Truist Financial reduced their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Robert W. Baird set a $425.00 price target on shares of Visa in a research note on Wednesday, October 29th. Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, KeyCorp reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Visa in a research note on Wednesday, October 22nd. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $400.00.

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.