Delta Financial Advisors LLC Reduces Position in Visa Inc. (NYSE:V)

Delta Financial Advisors LLC cut its stake in shares of Visa Inc. (NYSE:V) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,415 shares of the credit-card processor’s stock after selling 363 shares during the quarter. Visa comprises approximately 2.6% of Delta Financial Advisors LLC’s portfolio, making the stock its 6th biggest position. Delta Financial Advisors LLC’s holdings in Visa were worth $7,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of V. KMG Fiduciary Partners LLC increased its holdings in shares of Visa by 0.3% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock worth $3,831,000 after purchasing an additional 37 shares in the last quarter. Iron Horse Wealth Management LLC increased its holdings in Visa by 15.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock worth $74,000 after buying an additional 37 shares in the last quarter. Washington Trust Bank raised its position in Visa by 1.1% in the 3rd quarter. Washington Trust Bank now owns 3,258 shares of the credit-card processor’s stock worth $896,000 after buying an additional 37 shares during the last quarter. Proffitt & Goodson Inc. lifted its stake in Visa by 20.3% during the 3rd quarter. Proffitt & Goodson Inc. now owns 219 shares of the credit-card processor’s stock valued at $60,000 after acquiring an additional 37 shares during the period. Finally, Tlwm lifted its stake in Visa by 0.7% during the 2nd quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock valued at $1,376,000 after acquiring an additional 38 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 1.0 %

Shares of V stock opened at $310.98 on Tuesday. The stock has a market cap of $566.70 billion, a P/E ratio of 31.96, a PEG ratio of 2.06 and a beta of 0.95. The company’s fifty day simple moving average is $283.95 and its two-hundred day simple moving average is $274.67. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a 52 week low of $244.11 and a 52 week high of $312.44.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the prior year, the company earned $2.33 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. Analysts predict that Visa Inc. will post 11.18 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s payout ratio is 21.38%.

Analysts Set New Price Targets

Several research firms have recently weighed in on V. Susquehanna boosted their price objective on shares of Visa from $326.00 to $339.00 and gave the company a “positive” rating in a report on Wednesday, October 30th. Piper Sandler boosted their target price 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 price target on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Jefferies Financial Group upped their price objective on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.19% 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.