Narwhal Capital Management reduced its position in Visa Inc. (NYSE:V – Free Report) by 2.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 45,042 shares of the credit-card processor’s stock after selling 1,360 shares during the period. Visa accounts for about 1.1% of Narwhal Capital Management’s portfolio, making the stock its 22nd largest position. Narwhal Capital Management’s holdings in Visa were worth $16,185,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of V. Csenge Advisory Group increased its position in Visa by 45.2% during the 3rd quarter. Csenge Advisory Group now owns 15,569 shares of the credit-card processor’s stock valued at $5,594,000 after buying an additional 4,846 shares in the last quarter. D.B. Root & Company LLC raised its stake in Visa by 1.1% in the third quarter. D.B. Root & Company LLC now owns 2,255 shares of the credit-card processor’s stock valued at $810,000 after buying an additional 25 shares during the last quarter. D Orazio & Associates Inc. raised its stake in Visa by 1.8% in the third quarter. D Orazio & Associates Inc. now owns 6,584 shares of the credit-card processor’s stock valued at $2,366,000 after buying an additional 116 shares during the last quarter. Marathon Wealth Advisors LLC boosted its holdings in Visa by 0.4% in the third quarter. Marathon Wealth Advisors LLC now owns 18,810 shares of the credit-card processor’s stock worth $6,759,000 after acquiring an additional 66 shares in the last quarter. Finally, New York Life Investment Management LLC boosted its holdings in Visa by 2.3% in the third quarter. New York Life Investment Management LLC now owns 253,183 shares of the credit-card processor’s stock worth $90,976,000 after acquiring an additional 5,573 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.
Insider Transactions at Visa
In related news, CEO Ryan Mcinerney sold 5,875 shares of Visa stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $367.87, for a total transaction of $2,161,236.25. Following the completion of the sale, the chief executive officer owned 15,174 shares of the company’s stock, valued at $5,582,059.38. The trade was a 27.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 2,028 shares of Visa stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $381.35, for a total value of $773,377.80. Following the sale, the general counsel directly owned 18,404 shares of the company’s stock, valued at $7,018,365.40. This trade represents a 9.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 29,262 shares of company stock worth $11,195,791 over the last three months. Corporate insiders own 0.12% of the company’s stock.
Visa Price Performance
NYSE V 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’s fifty day moving average price is $387.55 and its 200 day moving average price is $345.66. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $442.23. The company has a market cap of $754.72 billion, a price-to-earnings ratio of 34.30, a PEG ratio of 1.80 and a beta of 0.80.
Visa (NYSE:V – Get Free Report) last issued its earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.04. Visa had a return on equity of 70.50% and a net margin of 51.20%. The company had revenue of $12.14 billion during the quarter, compared to analyst estimates of $12.09 billion. During the same quarter last year, the business posted $2.98 EPS. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. As a group, equities research analysts forecast that Visa Inc. will post 15.02 earnings per share for the current year.
Visa Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 10th will be issued a $0.78 dividend. This is a boost from Visa’s previous quarterly dividend of $0.67. This represents a $3.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, November 10th. Visa’s dividend payout ratio is currently 25.30%.
Analyst Upgrades and Downgrades
V has been the topic of a number of research analyst reports. Rothschild & Co Redburn boosted their price target on Visa from $430.00 to $444.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Raymond James Financial restated an “outperform” rating and set a $445.00 price objective on shares of Visa in a report on Wednesday, October 28th. Susquehanna set a $480.00 price objective on shares of Visa and gave the company a “positive” rating in a research report on Monday, October 26th. Morgan Stanley reiterated an “overweight” rating and issued a $471.00 target price (up from $416.00) on shares of Visa in a research note on Wednesday, October 28th. Finally, BMO Capital Markets set a $438.00 target price on shares of Visa and gave the stock an “outperform” rating in a research report on Wednesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating and thirty-five have assigned a Buy rating to the company’s stock. According to data from MarketBeat, Visa has a consensus rating of “Buy” and a consensus target price of $442.29.
Check Out Our Latest Stock Analysis on V
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
Visa Company Profile
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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