Visa Inc. $V Position Increased by Clearstead Trust LLC

Clearstead Trust LLC increased its stake in shares of Visa Inc. (NYSE:V) by 1.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,417 shares of the credit-card processor’s stock after buying an additional 353 shares during the quarter. Visa comprises approximately 1.6% of Clearstead Trust LLC’s holdings, making the stock its 13th largest position. Clearstead Trust LLC’s holdings in Visa were worth $8,669,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new stake in shares of Visa in the 1st quarter worth about $3,518,533,000. Vanguard Group Inc. boosted its stake in Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after purchasing an additional 1,677,088 shares during the period. Wellington Management Group LLP grew its position in Visa by 17.7% in the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after purchasing an additional 1,651,954 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Visa by 2.5% in the second quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after purchasing an additional 1,067,631 shares during the period. Finally, MUFG Securities EMEA plc bought a new stake in shares of Visa during the first quarter valued at approximately $373,240,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Down 0.9%

V opened at $335.76 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization 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 stock’s fifty day moving average is $342.43 and its 200-day moving average is $348.69. Visa Inc. has a one year low of $299.00 and a one year high of $375.51.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The business had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter last year, the business posted $2.71 earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. On average, equities analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wells Fargo & Company raised Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. KeyCorp reissued an “overweight” rating and issued a $405.00 price target on shares of Visa in a research note on Wednesday, October 22nd. Barclays restated an “overweight” rating and set a $408.00 price objective (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Finally, Truist Financial decreased their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $400.00.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred 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 transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the sale, the chief executive officer owned 537 shares of the company’s stock, valued at $183,117. This trade represents a 95.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 23,897 shares of company stock worth $8,164,561 in the last ninety days. 0.13% of the stock is currently owned by corporate 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.