Marco Investment Management LLC Sells 66 Shares of Visa Inc. (NYSE:V)

Marco Investment Management LLC lessened its stake in Visa Inc. (NYSE:V) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,474 shares of the credit-card processor’s stock after selling 66 shares during the period. Marco Investment Management LLC’s holdings in Visa were worth $405,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Hartford Funds Management Co LLC boosted its stake in shares of Visa by 3.2% during the 3rd quarter. Hartford Funds Management Co LLC now owns 4,154 shares of the credit-card processor’s stock worth $1,142,000 after acquiring an additional 129 shares during the last quarter. Pekin Hardy Strauss Inc. boosted its stake in shares of Visa by 1.2% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 6,771 shares of the credit-card processor’s stock worth $1,862,000 after acquiring an additional 80 shares during the last quarter. Summit Trail Advisors LLC boosted its stake in shares of Visa by 8.4% during the 3rd quarter. Summit Trail Advisors LLC now owns 20,627 shares of the credit-card processor’s stock worth $5,671,000 after acquiring an additional 1,592 shares during the last quarter. Capital Investment Counsel LLC boosted its stake in shares of Visa by 4.2% during the 3rd quarter. Capital Investment Counsel LLC now owns 1,539 shares of the credit-card processor’s stock worth $423,000 after acquiring an additional 62 shares during the last quarter. Finally, Cahill Financial Advisors Inc. boosted its stake in shares of Visa by 4.9% during the 3rd quarter. Cahill Financial Advisors Inc. now owns 4,062 shares of the credit-card processor’s stock worth $1,117,000 after acquiring an additional 190 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.0 %

NYSE:V opened at $309.92 on Friday. The firm has a market capitalization of $577.34 billion, a P/E ratio of 31.85, a PEG ratio of 2.08 and a beta of 0.95. Visa Inc. has a 1-year low of $251.61 and a 1-year high of $312.44. The company’s fifty day moving average price is $289.52 and its 200-day moving average price is $277.34. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28.

Visa (NYSE:V) last released its quarterly earnings results 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. The company 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%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the business earned $2.33 earnings per share. As a group, equities research analysts anticipate that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.76%. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 94.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction 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 trade represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the topic of several analyst reports. Citigroup lifted their price target on shares of Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Piper Sandler lifted their price target on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their price target on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus target price 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.