Visa Inc. (NYSE:V) Shares Sold by Fragasso Financial Advisors Inc

Fragasso Financial Advisors Inc lessened its position in shares of Visa Inc. (NYSE:V) by 5.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 30,393 shares of the credit-card processor’s stock after selling 1,863 shares during the period. Visa makes up approximately 0.7% of Fragasso Financial Advisors Inc’s investment portfolio, making the stock its 20th largest position. Fragasso Financial Advisors Inc’s holdings in Visa were worth $9,605,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Peterson Financial Group Inc. acquired a new stake in shares of Visa in the third quarter valued at approximately $26,000. Modus Advisors LLC acquired a new stake in Visa during the 4th quarter valued at $32,000. Reston Wealth Management LLC purchased a new position in Visa during the third quarter worth $31,000. West Financial Advisors LLC raised its holdings in shares of Visa by 101.4% in the third quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock worth $40,000 after acquiring an additional 73 shares during the last quarter. Finally, Fairway Wealth LLC acquired a new stake in shares of Visa during the second quarter valued at $39,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Performance

V stock traded down $1.73 during trading on Monday, hitting $305.98. 2,558,434 shares of the company’s stock traded hands, compared to its average volume of 5,061,347. The stock has a fifty day moving average price of $312.14 and a two-hundred day moving average price of $287.04. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $321.61. The stock has a market capitalization of $570.00 billion, a price-to-earnings ratio of 31.45, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.33 earnings per share. As a group, equities analysts anticipate that Visa Inc. will post 11.23 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 24.25%.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the topic of a number of analyst reports. Royal Bank of Canada raised their target price on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Barclays increased their price objective on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. BMO Capital Markets upped their price objective on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler lifted their target price on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Oppenheimer raised their price objective on Visa from $321.00 to $375.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $330.85.

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.