Avitas Wealth Management LLC Sells 385 Shares of Visa Inc. (NYSE:V)

Avitas Wealth Management LLC lessened its stake in Visa Inc. (NYSE:V) by 1.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,388 shares of the credit-card processor’s stock after selling 385 shares during the quarter. Avitas Wealth Management LLC’s holdings in Visa were worth $5,351,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Visa in the 4th quarter valued at about $3,895,015,000. National Bank of Canada FI raised its holdings in shares of Visa by 787.1% during the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $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 during the 1st quarter worth $511,321,000. GQG Partners LLC raised its holdings in Visa by 40.1% in the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after buying an additional 1,715,686 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its stake in Visa by 14,306.3% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock worth $390,595,000 after purchasing an additional 1,489,856 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of a number of research analyst reports. William Blair raised Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Macquarie restated an “outperform” rating and issued a $300.00 price target on shares of Visa in a report on Wednesday, July 24th. Bank of America reaffirmed a “neutral” rating and issued a $297.00 price objective (down from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Piper Sandler lowered their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Finally, Jefferies Financial Group reduced their price target on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $308.50.

Visa Price Performance

Visa stock traded down $0.50 during mid-day trading on Friday, reaching $267.44. The company had a trading volume of 3,697,448 shares, compared to its average volume of 7,178,655. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market capitalization of $489.13 billion, a P/E ratio of 29.88, a P/E/G ratio of 1.89 and a beta of 0.95. The stock’s 50-day simple moving average is $265.93 and its 200-day simple moving average is $273.30.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same quarter last year, the business earned $2.16 EPS. Visa’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities analysts predict that Visa Inc. will post 9.91 EPS for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be issued a $0.52 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. Visa’s payout ratio is currently 23.24%.

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.