MainStreet Investment Advisors LLC Trims Stock Position in Visa Inc. (NYSE:V)

MainStreet Investment Advisors LLC decreased its stake in Visa Inc. (NYSE:V) by 6.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,245 shares of the credit-card processor’s stock after selling 2,180 shares during the quarter. Visa makes up 0.9% of MainStreet Investment Advisors LLC’s holdings, making the stock its 29th largest position. MainStreet Investment Advisors LLC’s holdings in Visa were worth $7,676,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Brio Consultants LLC increased its stake in shares of Visa by 39.1% in the 4th quarter. Brio Consultants LLC now owns 1,555 shares of the credit-card processor’s stock valued at $405,000 after purchasing an additional 437 shares in the last quarter. Gilbert & Cook Inc. raised its stake in shares of Visa by 2.9% during the 4th quarter. Gilbert & Cook Inc. now owns 5,629 shares of the credit-card processor’s stock worth $1,466,000 after buying an additional 158 shares during the period. Aveo Capital Partners LLC lifted its position in shares of Visa by 9.2% during the 4th quarter. Aveo Capital Partners LLC now owns 2,802 shares of the credit-card processor’s stock valued at $730,000 after buying an additional 235 shares in the last quarter. 9258 Wealth Management LLC increased its holdings in Visa by 20.8% in the 4th quarter. 9258 Wealth Management LLC now owns 8,043 shares of the credit-card processor’s stock worth $2,094,000 after acquiring an additional 1,387 shares in the last quarter. Finally, Gryphon Financial Partners LLC raised its position in Visa by 53.8% during the fourth quarter. Gryphon Financial Partners LLC now owns 13,640 shares of the credit-card processor’s stock worth $3,282,000 after acquiring an additional 4,774 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Piper Sandler dropped their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price objective on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Morgan Stanley reduced their target price on Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Compass Point initiated coverage on Visa in a research note on Wednesday. They issued a “buy” rating and a $319.00 price target on the stock. Finally, StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $309.54.

Visa Stock Performance

NYSE V opened at $279.37 on Friday. The stock has a fifty day simple moving average of $266.53 and a 200-day simple moving average of $273.13. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market cap of $509.10 billion, a PE ratio of 31.21, a P/E/G ratio of 1.98 and a beta of 0.96. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $290.96.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same quarter last year, the firm posted $2.16 earnings per share. Visa’s revenue was up 9.6% compared to the same quarter last year. Equities analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.74%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

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.