Visa Inc. (NYSE:V) Position Cut by Transamerica Financial Advisors Inc.

Transamerica Financial Advisors Inc. lowered its holdings in shares of Visa Inc. (NYSE:V) by 3.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,264 shares of the credit-card processor’s stock after selling 654 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Visa were worth $5,022,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in shares of Visa by 45,189.4% in the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after acquiring an additional 9,736,958 shares in the last quarter. SG Americas Securities LLC lifted its position in Visa by 4,412.3% in the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after purchasing an additional 4,166,905 shares during the period. FMR LLC boosted its stake in Visa by 6.1% during the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after purchasing an additional 3,265,518 shares in the last quarter. Swedbank AB acquired a new position in shares of Visa during the 1st quarter valued at $511,321,000. Finally, Wulff Hansen & CO. raised its stake in shares of Visa by 26,951.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock worth $416,788,000 after buying an additional 1,582,074 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Piper Sandler boosted their target price on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Mizuho lifted their price target on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. TD Cowen increased their price objective on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. BMO Capital Markets lifted their target price on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley boosted their target price on Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $321.74.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 94.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Visa Stock Performance

Shares of Visa stock traded down $0.68 during midday trading on Tuesday, hitting $312.51. The company had a trading volume of 721,563 shares, compared to its average volume of 6,965,523. The stock has a market cap of $582.17 billion, a PE ratio of 32.15, a P/E/G ratio of 2.08 and a beta of 0.95. Visa Inc. has a 1-year low of $251.61 and a 1-year high of $314.50. The business’s 50 day simple moving average is $289.96 and its two-hundred day simple moving average is $277.58. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the business earned $2.33 earnings per share. As a group, equities analysts predict that Visa Inc. will post 11.19 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 given a dividend of $0.59 per share. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s payout ratio is 24.25%.

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.