Campbell Newman Asset Management Inc. Sells 8,671 Shares of Visa Inc. (NYSE:V)

Campbell Newman Asset Management Inc. reduced its position in Visa Inc. (NYSE:V) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 127,811 shares of the credit-card processor’s stock after selling 8,671 shares during the quarter. Visa makes up about 3.3% of Campbell Newman Asset Management Inc.’s portfolio, making the stock its 8th largest position. Campbell Newman Asset Management Inc.’s holdings in Visa were worth $40,393,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of V. Edgestream Partners L.P. lifted its stake in Visa by 27.0% in the second quarter. Edgestream Partners L.P. now owns 9,860 shares of the credit-card processor’s stock valued at $2,588,000 after buying an additional 2,096 shares during the period. Mutual of America Capital Management LLC grew its position in shares of Visa by 0.5% during the 2nd quarter. Mutual of America Capital Management LLC now owns 217,597 shares of the credit-card processor’s stock worth $57,113,000 after buying an additional 1,078 shares during the period. Charles Lim Capital Ltd increased its stake in shares of Visa by 225.0% in the 2nd quarter. Charles Lim Capital Ltd now owns 325,000 shares of the credit-card processor’s stock valued at $85,303,000 after acquiring an additional 225,000 shares in the last quarter. Meridian Wealth Partners LLC lifted its position in shares of Visa by 8.1% during the 2nd quarter. Meridian Wealth Partners LLC now owns 1,593 shares of the credit-card processor’s stock valued at $418,000 after acquiring an additional 119 shares during the period. Finally, Lingotto Investment Management LLP boosted its stake in Visa by 11.2% during the second quarter. Lingotto Investment Management LLP now owns 32,348 shares of the credit-card processor’s stock worth $8,490,000 after acquiring an additional 3,253 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on V. Piper Sandler lifted 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. Mizuho raised their target price on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Jefferies Financial Group raised their price objective on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada boosted their price objective on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $331.92.

Visa Stock Performance

V stock opened at $316.45 on Thursday. 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 firm has a market cap of $589.51 billion, a PE ratio of 32.52, a P/E/G ratio of 2.06 and a beta of 0.96. The business has a 50 day moving average of $312.76 and a 200-day moving average of $287.65. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $321.61.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.33 EPS. As a group, sell-side analysts expect that Visa Inc. will post 11.22 earnings per share for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were given a $0.59 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.75%. Visa’s payout ratio is currently 24.25%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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. Corporate insiders own 0.13% of the company’s stock.

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.