Linscomb Wealth Inc. Lowers Stock Holdings in Visa Inc. (NYSE:V)

Linscomb Wealth Inc. decreased its position in shares of Visa Inc. (NYSE:V) by 0.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,757 shares of the credit-card processor’s stock after selling 67 shares during the quarter. Linscomb Wealth Inc.’s holdings in Visa were worth $10,931,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of V. Gouws Capital LLC lifted its stake in Visa by 1.0% in the 3rd quarter. Gouws Capital LLC now owns 29,242 shares of the credit-card processor’s stock worth $8,040,000 after purchasing an additional 294 shares in the last quarter. Bank of Marin increased its holdings in shares of Visa by 3.3% in the 3rd quarter. Bank of Marin now owns 4,180 shares of the credit-card processor’s stock worth $1,149,000 after buying an additional 133 shares during the last quarter. Valley Wealth Managers Inc. increased its holdings in shares of Visa by 67.4% in the 3rd quarter. Valley Wealth Managers Inc. now owns 4,453 shares of the credit-card processor’s stock worth $1,224,000 after buying an additional 1,793 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Visa by 15.4% in the 3rd quarter. Empowered Funds LLC now owns 72,571 shares of the credit-card processor’s stock worth $19,953,000 after buying an additional 9,675 shares during the last quarter. Finally, Empirical Finance LLC increased its holdings in shares of Visa by 3.8% in the 3rd quarter. Empirical Finance LLC now owns 43,867 shares of the credit-card processor’s stock worth $12,061,000 after buying an additional 1,594 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of NYSE:V traded up $1.29 during midday trading on Friday, reaching $309.54. The company’s stock had a trading volume of 1,051,576 shares, compared to its average volume of 6,976,321. The firm has a market capitalization of $564.08 billion, a PE ratio of 31.71, a P/E/G ratio of 2.07 and a beta of 0.95. Visa Inc. has a twelve month low of $245.60 and a twelve month high of $312.44. The stock has a fifty day moving average of $286.44 and a 200 day moving average of $275.64. 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 (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. On average, equities analysts expect that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is currently 24.25%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on V shares. BMO Capital Markets boosted their target price on shares of Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. William Blair upgraded shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Susquehanna upped their price target on shares of Visa from $326.00 to $339.00 and gave the company a “positive” rating in a report on Wednesday, October 30th. Finally, Piper Sandler upped their price target on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $321.74.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on 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. This trade represents a 94.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is owned by company insiders.

Visa Company Profile

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.