Elevated Capital Advisors LLC decreased its position in shares of Visa Inc. (NYSE:V – Free Report) by 37.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,205 shares of the credit-card processor’s stock after selling 1,928 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Visa were worth $1,152,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. XXEC Inc. lifted its stake in shares of Visa by 153,118.8% during the second quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor’s stock valued at $63,904,097,000 after acquiring an additional 186,138,883 shares during the period. Jupiter Topco LLC bought a new position in Visa in the second quarter valued at about $1,435,262,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Visa by 13.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,720,068 shares of the credit-card processor’s stock valued at $5,393,398,000 after acquiring an additional 1,808,496 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Visa by 33.1% in the first quarter. Janus Henderson Group PLC now owns 4,486,927 shares of the credit-card processor’s stock valued at $1,356,090,000 after acquiring an additional 1,116,498 shares during the last quarter. Finally, Amundi increased its position in Visa by 16.5% in the second quarter. Amundi now owns 7,714,919 shares of the credit-card processor’s stock worth $2,646,911,000 after purchasing an additional 1,092,315 shares during the period. 82.15% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Visa
In other Visa news, CEO Ryan Mcinerney sold 5,875 shares of the stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $416.22, for a total value of $2,445,292.50. Following the sale, the chief executive officer directly owned 15,174 shares in the company, valued at approximately $6,315,722.28. This trade represents a 27.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie Rottenberg sold 1,867 shares of Visa stock in a transaction on Monday, November 9th. The stock was sold at an average price of $423.00, for a total transaction of $789,741.00. Following the transaction, the general counsel directly owned 18,404 shares in the company, valued at approximately $7,784,892. This represents a 9.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 29,262 shares of company stock worth $11,195,791. Company insiders own 0.12% of the company’s stock.
Key Stories Impacting Visa
Here are the key news stories impacting Visa this week:
- Positive Sentiment: Citigroup raised its price target to $490 from $440 and maintained a Buy rating, implying about 15.9% upside from the cited share price. Citigroup recommendations
- Positive Sentiment: Global Payments added Visa’s Intelligent Data Exchange API to its Adaptive Authentication platform. Sharing more transaction data with issuers is intended to reduce false declines and improve digital checkout, supporting the utility of Visa’s data tools. Global Payments expands authentication platform
- Neutral Sentiment: Visa General Counsel Julie Rottenberg sold 1,867 shares for about $790,000 under a pre-arranged Rule 10b5-1 plan. She retained 18,404 shares, which may temper concern about the sale as a signal of her outlook. SEC filing
- Negative Sentiment: A hotter-than-expected October CPI reading could renew inflation and interest-rate concerns, potentially pressuring richly valued growth-oriented stocks, including Visa. CPI and market drivers
- Negative Sentiment: Commentary on Visa’s long-term performance also flags fee-related lawsuits, stablecoin competition and a high valuation as risks that could challenge its record of outperforming the broader market. Visa’s IPO and long-term performance
Analyst Ratings Changes
Several analysts have weighed in on V shares. Weiss Ratings cut Visa from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, October 28th. Rothschild & Co Redburn raised their target price on shares of Visa from $430.00 to $444.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Loop Capital lifted their price target on shares of Visa from $387.00 to $404.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Susquehanna set a $480.00 price target on shares of Visa and gave the stock a “positive” rating in a research note on Monday, October 26th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $500.00 price objective (up from $445.00) on shares of Visa in a report on Wednesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating and thirty-five have assigned a Buy rating to the company. According to MarketBeat, Visa currently has an average rating of “Buy” and a consensus target price of $442.29.
Visa Stock Performance
Shares of V stock opened at $422.95 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $754.72 billion, a PE ratio of 34.30, a price-to-earnings-growth ratio of 1.80 and a beta of 0.80. The stock has a 50-day moving average of $387.55 and a 200-day moving average of $345.66. Visa Inc. has a one year low of $293.89 and a one year high of $442.23.
Visa (NYSE:V – Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.04. Visa had a net margin of 51.20% and a return on equity of 70.50%. The business had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same period last year, the company posted $2.98 EPS. Visa’s revenue for the quarter was up 13.2% on a year-over-year basis. As a group, sell-side analysts expect that Visa Inc. will post 15.02 earnings per share for the current year.
Visa Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This is a boost from Visa’s previous quarterly dividend of $0.67. This represents a $3.12 annualized dividend and a yield of 0.7%. Visa’s payout ratio is currently 25.30%.
About Visa
Visa Inc. operates a global payments network that connects consumers, merchants, financial institutions and governments. Its network supports the authorization, clearing and settlement of electronic payments, including transactions made in person and online. The company’s services include payment processing, fraud prevention, identity and risk management, and money-transfer solutions such as Visa Direct. Visa-branded credit, debit and prepaid cards are issued by participating financial institutions; Visa generally provides the network and related services rather than issuing cards or extending credit directly to consumers.
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