1,752 Visa Inc. $V Shares Sold by Kelleher Financial Advisors

Kelleher Financial Advisors decreased its holdings in shares of Visa Inc. (NYSE:V) by 39.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,697 shares of the credit-card processor’s stock after selling 1,752 shares during the period. Kelleher Financial Advisors’ holdings in Visa were worth $969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. John Boyer Inc. acquired a new position in Visa during the third quarter worth $27,000. Philadelphia Investment Partners LLC acquired a new stake in shares of Visa in the second quarter valued at about $29,000. Virtus Advisers LLC acquired a new stake in shares of Visa in the second quarter valued at about $33,000. Portfolio Resources Advisor Group Inc. acquired a new stake in shares of Visa in the third quarter valued at about $35,000. Finally, DecisionPoint Financial LLC increased its stake in shares of Visa by 307.7% during the third quarter. DecisionPoint Financial LLC now owns 106 shares of the credit-card processor’s stock worth $38,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Transactions at Visa

In other Visa news, General Counsel Julie Rottenberg sold 1,867 shares of the stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $368.34, for a total value of $687,690.78. Following the completion of the sale, the general counsel owned 18,404 shares in the company, valued at approximately $6,778,929.36. This represents a 9.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 5,875 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $416.22, for a total transaction of $2,445,292.50. Following the completion of the transaction, the chief executive officer directly owned 15,174 shares in the company, valued at $6,315,722.28. This trade represents a 27.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 27,395 shares of company stock valued at $10,406,050. 0.12% of the stock is owned by insiders.

Visa Trading Up 3.8%

Shares of V opened at $436.21 on Thursday. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $436.76. The stock has a market cap of $778.39 billion, a PE ratio of 35.38, a price-to-earnings-growth ratio of 1.79 and a beta of 0.80. The firm’s fifty day moving average is $384.21 and its two-hundred day moving average is $343.74. The company has a quick ratio of 0.99, a current ratio of 0.97 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.04. The business had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Visa had a net margin of 51.20% and a return on equity of 70.50%. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.98 earnings per share. Research analysts forecast that Visa Inc. will post 15.02 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, November 10th. This is a positive change from Visa’s previous quarterly dividend of $0.67. Visa’s payout ratio is currently 25.30%.

Analysts Set New Price Targets

Several research firms recently weighed in on V. Cantor Fitzgerald restated an “overweight” rating and set a $500.00 price target (up from $445.00) on shares of Visa in a research report on Wednesday, October 28th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $430.00 price objective on shares of Visa in a report on Wednesday, July 29th. Piper Sandler reiterated an “overweight” rating and issued a $479.00 price objective (up from $430.00) on shares of Visa in a report on Wednesday, October 28th. Loop Capital boosted their price objective on Visa from $387.00 to $404.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Finally, Oppenheimer increased their target price on Visa from $403.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, October 28th. Two analysts have rated the stock with a Strong Buy rating and thirty-five have given a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $440.03.

Key Stories Impacting Visa

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Verifone has deployed Visa’s Featurespace fraud-screening technology across its payment gateways. The system assesses transactions in real time across in-store, online and mobile channels, giving Visa another opportunity to expand its fraud-prevention services; the announcements did not disclose the financial size of the deal. Article: Verifone Turns to Visa’s Featurespace to Combat Fraud
• Positive Sentiment: Visa raised its quarterly dividend from $0.67 to $0.78 per share, an increase of more than 16%. The hike signals confidence in cash generation and adds to shareholder returns, although the yield is still relatively low. Article: Visa Just Hiked Its Dividend
• Positive Sentiment: Visa’s latest reported quarter beat analyst expectations for earnings and revenue, with revenue up 13.2% year over year. That performance offers support for the growth outlook behind the dividend increase. Article: Will Earnings Beat Change Visa Stock’s Narrative
• Neutral Sentiment: Former Visa chairman and CEO Joseph Saunders, who led the company through its IPO, has died. The report is a tribute to his legacy and does not indicate an effect on Visa’s current operations. Article: Former Visa CEO Joseph Saunders Dies
• Negative Sentiment: A recent article cautioned investors about buying after Visa’s strong share-price run, noting the relatively low dividend yield. Separately, CEO Ryan McInerney sold 5,875 shares; the transaction was made under a pre-arranged trading plan, which tempers its significance as an outlook signal. Article: Visa Just Hiked Its Dividend Visa insider-trading report

About Visa

Visa Inc (NYSE: V) is a global payments technology company that facilitates electronic payments between consumers, businesses, financial institutions and governments. Through its VisaNet network, the company authorizes, clears and settles transactions made with Visa-branded credit, debit and prepaid cards, while generally not issuing cards, extending credit or setting cardholder account terms.

Visa provides payment products and services for consumer, commercial and government payments, as well as digital commerce and money movement.