Verum Partners LLC Sells 41 Shares of Visa Inc. (NYSE:V)

Verum Partners LLC cut its stake in shares of Visa Inc. (NYSE:V) by 2.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,560 shares of the credit-card processor’s stock after selling 41 shares during the quarter. Verum Partners LLC’s holdings in Visa were worth $429,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC raised its position in shares of Visa by 4,412.3% during the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock valued at $1,119,725,000 after purchasing an additional 4,166,905 shares during the period. National Bank of Canada FI raised its holdings in Visa by 787.1% during the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after acquiring an additional 4,099,122 shares during the period. Swedbank AB purchased a new position in shares of Visa in the first quarter valued at about $511,321,000. GQG Partners LLC lifted its position in shares of Visa by 40.1% in the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after acquiring an additional 1,715,686 shares in the last quarter. Finally, Wulff Hansen & CO. boosted its stake in shares of Visa by 26,951.9% in the second quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock worth $416,788,000 after acquiring an additional 1,582,074 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

V has been the topic of a number of research analyst reports. Jefferies Financial Group lowered their price target on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Compass Point assumed coverage on shares of Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price for the company. Piper Sandler reduced their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Morgan Stanley reissued an “overweight” rating and set a $322.00 price objective on shares of Visa in a report on Wednesday, September 25th. Finally, Citigroup decreased their target price on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.81.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated 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 sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Visa Trading Up 0.8 %

Shares of V traded up $2.35 during trading hours on Wednesday, reaching $281.64. 613,057 shares of the company traded hands, compared to its average volume of 7,073,984. The firm has a market cap of $515.10 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 1.92 and a beta of 0.96. Visa Inc. has a 12-month low of $228.03 and a 12-month high of $293.07. The stock’s fifty day moving average price is $275.07 and its 200 day moving average price is $272.63. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 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 business had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same period in the prior year, the firm earned $2.16 EPS. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Sell-side analysts forecast that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

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

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.