Visa Inc. (NYSE:V) Shares Sold by SP Asset Management LLC

SP Asset Management LLC lowered its position in shares of Visa Inc. (NYSE:V) by 3.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 19,678 shares of the credit-card processor’s stock after selling 757 shares during the quarter. SP Asset Management LLC’s holdings in Visa were worth $5,165,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in Visa during the fourth quarter worth about $3,895,015,000. National Bank of Canada FI raised its position 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 purchasing an additional 4,099,122 shares during the period. Swedbank AB bought a new stake in shares of Visa in the 1st quarter worth approximately $511,321,000. GQG Partners LLC boosted its position in Visa by 40.1% during 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 purchasing an additional 1,715,686 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its stake in Visa by 14,306.3% during the 4th 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 buying an additional 1,489,856 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Piper Sandler lowered their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Royal Bank of Canada dropped their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Macquarie reiterated an “outperform” rating and set a $300.00 price objective on shares of Visa in a research report on Wednesday, July 24th. Citigroup cut their target price on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, Bank of America reissued a “neutral” rating and issued a $297.00 price target (down previously from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $309.54.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is currently owned by insiders.

Visa Trading Down 0.1 %

Shares of V opened at $285.34 on Wednesday. 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 Inc. has a 1-year low of $227.78 and a 1-year high of $290.96. The stock has a market capitalization of $519.98 billion, a P/E ratio of 31.88, a P/E/G ratio of 1.97 and a beta of 0.96. The business’s 50-day moving average price is $267.32 and its 200 day moving average price is $273.13.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.16 earnings per share. Analysts expect that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.73%. 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.