Linscomb Wealth Inc. Trims Stock Position in Visa Inc. (NYSE:V)

Linscomb Wealth Inc. cut its position in shares of Visa Inc. (NYSE:V) by 0.2% during the third quarter, Holdings Channel.com reports. The firm 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.

Other institutional investors also recently bought and sold shares of the company. Unionview LLC raised its stake in shares of Visa by 1.5% during the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock valued at $631,000 after purchasing an additional 33 shares in the last quarter. KMG Fiduciary Partners LLC raised its stake 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 valued at $3,831,000 after purchasing an additional 37 shares in the last quarter. Iron Horse Wealth Management LLC raised its stake in shares of Visa by 15.9% during the third quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock valued at $74,000 after purchasing an additional 37 shares in the last quarter. Washington Trust Bank raised its stake in shares of Visa by 1.1% during the third quarter. Washington Trust Bank now owns 3,258 shares of the credit-card processor’s stock valued at $896,000 after purchasing an additional 37 shares in the last quarter. Finally, Proffitt & Goodson Inc. raised its stake in shares of Visa by 20.3% during the third quarter. Proffitt & Goodson Inc. now owns 219 shares of the credit-card processor’s stock valued at $60,000 after purchasing an additional 37 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Performance

Shares of V traded up $1.29 during mid-day trading on Friday, hitting $309.54. The company’s stock had a trading volume of 1,051,576 shares, compared to its average volume of 6,976,321. Visa Inc. has a one year low of $245.60 and a one year high of $312.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. The firm has a market capitalization of $564.08 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 2.07 and a beta of 0.95. The stock’s 50-day moving average is $286.44 and its two-hundred day moving average is $275.64.

Visa (NYSE:V) last issued 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 business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the prior year, the company posted $2.33 earnings per share. Visa’s revenue was up 11.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio is presently 24.25%.

Insider Transactions 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 value of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $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 the SEC website. 0.19% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on V. Piper Sandler lifted their target price on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. William Blair upgraded Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Compass Point initiated coverage on Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price on the stock. Finally, Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $321.74.

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.