Visa Inc. $V Shares Sold by Capital Group Private Client Services Inc.

Capital Group Private Client Services Inc. lowered its position in shares of Visa Inc. (NYSE:V) by 75.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,187 shares of the credit-card processor’s stock after selling 384,296 shares during the period. Visa accounts for approximately 0.7% of Capital Group Private Client Services Inc.’s portfolio, making the stock its 23rd largest position. Capital Group Private Client Services Inc.’s holdings in Visa were worth $43,078,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of V. Insight Wealth Strategies LLC lifted its holdings in Visa by 1.6% during the 3rd quarter. Insight Wealth Strategies LLC now owns 1,875 shares of the credit-card processor’s stock worth $640,000 after buying an additional 29 shares during the last quarter. Old Port Advisors increased its holdings in shares of Visa by 0.9% in the 3rd quarter. Old Port Advisors now owns 3,423 shares of the credit-card processor’s stock valued at $1,169,000 after acquiring an additional 29 shares during the last quarter. Carr Financial Group Corp increased its holdings in shares of Visa by 2.4% in the 3rd quarter. Carr Financial Group Corp now owns 1,290 shares of the credit-card processor’s stock valued at $440,000 after acquiring an additional 30 shares during the last quarter. Define Financial LLC raised its position in shares of Visa by 4.0% during the 3rd quarter. Define Financial LLC now owns 779 shares of the credit-card processor’s stock worth $266,000 after acquiring an additional 30 shares in the last quarter. Finally, Patron Partners LLC lifted its stake in Visa by 0.6% during the third quarter. Patron Partners LLC now owns 4,648 shares of the credit-card processor’s stock worth $1,587,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $349.18, for a total value of $3,661,152.30. Following the completion of the sale, the chief executive officer owned 9,401 shares in the company, valued at $3,282,641.18. This trade represents a 52.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.12% of the stock is owned by company insiders.

Visa Stock Down 0.4%

Visa stock opened at $316.03 on Tuesday. The stock’s 50 day moving average price is $328.80 and its 200 day moving average price is $337.05. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The company has a market cap of $573.65 billion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 1.82 and a beta of 0.78. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.11.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.03. Visa had a return on equity of 61.74% and a net margin of 50.23%.The firm had revenue of $10.90 billion during the quarter, compared to analysts’ expectations of $10.69 billion. During the same quarter in the prior year, the business posted $2.75 earnings per share. Visa’s revenue was up 14.6% compared to the same quarter last year. On average, sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th were issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, February 10th. Visa’s dividend payout ratio (DPR) is currently 25.14%.

Analyst Ratings Changes

A number of brokerages recently issued reports on V. Piper Sandler set a $160.00 price target on Visa in a report on Wednesday, January 28th. HSBC upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. Daiwa Securities Group raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $370.00 target price on the stock in a report on Monday, February 2nd. Macquarie Infrastructure reiterated an “outperform” rating and issued a $410.00 price target on shares of Visa in a research report on Friday, January 30th. Finally, Bank of America initiated coverage on shares of Visa in a research note on Thursday, March 5th. They set a “buy” rating and a $410.00 price target for the company. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Visa has a consensus rating of “Buy” and an average price target of $392.65.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.