Smith Chas P & Associates PA Cpas lessened its holdings in Visa Inc. (NYSE:V – Free Report) 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 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.
Get Our Latest Research Report on V
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.
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