Visa Inc. (NYSE:V) Shares Sold by Smith Chas P & Associates PA Cpas

Smith Chas P & Associates PA Cpas lessened its holdings in Visa Inc. (NYSE:V) by 2.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 165,938 shares of the credit-card processor’s stock after selling 4,932 shares during the quarter. Visa accounts for approximately 2.6% of Smith Chas P & Associates PA Cpas’ holdings, making the stock its 13th largest holding. Smith Chas P & Associates PA Cpas’ holdings in Visa were worth $45,625,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Scarborough Advisors LLC increased its holdings in Visa by 5.1% in the 4th quarter. Scarborough Advisors LLC now owns 926 shares of the credit-card processor’s stock worth $241,000 after buying an additional 45 shares during the period. Northwest Bank & Trust Co acquired a new stake in Visa during the fourth quarter worth about $71,000. Richardson Financial Services Inc. acquired a new position in Visa in the fourth quarter valued at approximately $1,199,000. Congress Asset Management Co. MA lifted its holdings in Visa by 0.3% in the fourth quarter. Congress Asset Management Co. MA now owns 571,173 shares of the credit-card processor’s stock valued at $148,705,000 after acquiring an additional 1,899 shares during the period. Finally, PBCay One RSC Ltd purchased a new stake in Visa in the 4th quarter worth approximately $6,589,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.1 %

V opened at $277.84 on Monday. Visa Inc. has a 52 week low of $228.03 and a 52 week high of $293.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The business has a fifty day simple moving average of $274.16 and a 200-day simple moving average of $272.62. The firm has a market cap of $508.15 billion, a P/E ratio of 31.04, a P/E/G ratio of 1.92 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $8.92 billion. During the same period in the prior year, the firm earned $2.16 earnings per share. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities analysts expect that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given 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 0.75%. Visa’s dividend payout ratio is presently 23.24%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on V. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a research note on Tuesday, September 3rd. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Evercore ISI dropped their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Piper Sandler decreased their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Finally, William Blair raised shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $313.81.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Visa Company 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.