Trust Asset Management LLC Has $5.05 Million Stock Position in Visa Inc. (NYSE:V)

Trust Asset Management LLC cut its holdings in Visa Inc. (NYSE:V) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,376 shares of the credit-card processor’s stock after selling 376 shares during the quarter. Visa makes up 0.4% of Trust Asset Management LLC’s holdings, making the stock its 20th biggest holding. Trust Asset Management LLC’s holdings in Visa were worth $5,052,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Associated Banc Corp increased its holdings in shares of Visa by 2.9% during the third quarter. Associated Banc Corp now owns 13,573 shares of the credit-card processor’s stock worth $3,732,000 after buying an additional 381 shares in the last quarter. Horizon Kinetics Asset Management LLC increased its holdings in Visa by 4.6% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 4,539 shares of the credit-card processor’s stock worth $1,248,000 after purchasing an additional 200 shares in the last quarter. Diversified LLC increased its holdings in Visa by 3.6% in the 3rd quarter. Diversified LLC now owns 5,314 shares of the credit-card processor’s stock worth $1,461,000 after purchasing an additional 184 shares in the last quarter. Truvestments Capital LLC bought a new position in Visa in the third quarter valued at about $133,000. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Visa by 9.1% during the third quarter. Brown Brothers Harriman & Co. now owns 88,709 shares of the credit-card processor’s stock valued at $24,391,000 after purchasing an additional 7,394 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s 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 sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The trade was a 94.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, 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. 0.19% of the stock is currently owned by corporate insiders.

Visa Stock Up 0.8 %

NYSE:V traded up $2.43 during trading hours on Monday, hitting $312.35. 747,115 shares of the company traded hands, compared to its average volume of 6,933,421. Visa Inc. has a one year low of $251.61 and a one year high of $313.66. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The company has a market cap of $581.87 billion, a PE ratio of 31.85, a PEG ratio of 2.08 and a beta of 0.95. The firm’s 50-day simple moving average is $289.52 and its 200-day simple moving average is $277.34.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the business posted $2.33 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities analysts predict that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.76%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is presently 24.25%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on V shares. Piper Sandler raised their price target on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Robert W. Baird lifted their target price on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley upped their price target on shares of Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

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.