Great Diamond Partners LLC Reduces Position in Visa Inc. (NYSE:V)

Great Diamond Partners LLC lowered its holdings in Visa Inc. (NYSE:V) by 31.3% in the third quarter, HoldingsChannel reports. The firm owned 6,188 shares of the credit-card processor’s stock after selling 2,822 shares during the period. Great Diamond Partners LLC’s holdings in Visa were worth $1,701,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. KMG Fiduciary Partners LLC lifted its position in shares of Visa by 0.3% during the third 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 during the last quarter. Iron Horse Wealth Management LLC lifted its holdings in Visa by 15.9% during 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 during the last quarter. Tlwm grew its position in shares of Visa by 0.7% in the 2nd quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock worth $1,376,000 after acquiring an additional 38 shares in the last quarter. Meridian Financial Partners LLC raised its position in shares of Visa by 0.5% during the 2nd quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock valued at $2,196,000 after acquiring an additional 38 shares in the last quarter. Finally, First National Corp MA ADV lifted its stake in Visa by 1.0% during the third quarter. First National Corp MA ADV now owns 3,841 shares of the credit-card processor’s stock worth $1,056,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

NYSE V opened at $290.16 on Thursday. Visa Inc. has a 1 year low of $232.99 and a 1 year high of $295.78. The stock’s 50-day moving average price is $280.09 and its two-hundred day moving average price is $273.38. The company has a market cap of $530.68 billion, a PE ratio of 32.42, a PEG ratio of 1.95 and a beta of 0.96. 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 (NYSE:V) last issued 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. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the firm earned $2.33 EPS. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. On average, analysts predict that Visa Inc. will post 9.92 EPS for the current year.

Analyst Upgrades and Downgrades

V has been the topic of a number of research reports. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a report on Tuesday, September 3rd. Royal Bank of Canada raised their target price on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a report on Wednesday. BMO Capital Markets lifted their target price on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday. Keefe, Bruyette & Woods upgraded Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Piper Sandler upped their price objective on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $320.07.

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 approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by insiders.

Visa 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.