Capital Investment Counsel Inc Sells 1,000 Shares of Visa Inc. (NYSE:V)

Capital Investment Counsel Inc decreased its position in Visa Inc. (NYSE:V) by 7.3% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 12,666 shares of the credit-card processor’s stock after selling 1,000 shares during the period. Capital Investment Counsel Inc’s holdings in Visa were worth $3,324,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of V. Westend Capital Management LLC bought a new position in Visa during the first quarter worth about $25,000. Livelsberger Financial Advisory acquired a new stake in shares of Visa during the fourth quarter worth $25,000. Frank Rimerman Advisors LLC acquired a new position in shares of Visa in the fourth quarter valued at about $33,000. TruNorth Capital Management LLC grew its stake in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares in the last quarter. Finally, Abich Financial Wealth Management LLC increased its position in Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after acquiring an additional 46 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 0.6 %

V stock traded up $1.57 during midday trading on Tuesday, reaching $268.04. 6,734,110 shares of the company’s stock traded hands, compared to its average volume of 7,221,004. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $290.96. The company has a market cap of $488.45 billion, a price-to-earnings ratio of 29.95, a P/E/G ratio of 1.89 and a beta of 0.95. The firm’s fifty day moving average price is $266.10 and its 200-day moving average price is $273.43. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.16 EPS. As a group, sell-side analysts forecast that Visa Inc. will post 9.91 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.78%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on V shares. Oppenheimer raised their price objective on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Piper Sandler cut their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Citigroup reduced their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, TD Cowen dropped their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $308.50.

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.