Freedom Investment Management Inc. Reduces Stock Position in Visa Inc. $V

Freedom Investment Management Inc. lowered its stake in shares of Visa Inc. (NYSE:V) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,883 shares of the credit-card processor’s stock after selling 110 shares during the period. Freedom Investment Management Inc.’s holdings in Visa were worth $2,799,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in V. Brighton Jones LLC raised its position in shares of Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after buying an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after buying an additional 4,817 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Visa by 9.9% in the first quarter. GAMMA Investing LLC now owns 42,120 shares of the credit-card processor’s stock worth $14,761,000 after buying an additional 3,795 shares in the last quarter. Golden State Wealth Management LLC raised its position in shares of Visa by 123.8% in the first quarter. Golden State Wealth Management LLC now owns 17,239 shares of the credit-card processor’s stock worth $6,047,000 after buying an additional 9,535 shares in the last quarter. Finally, Alpine Bank Wealth Management purchased a new stake in shares of Visa in the first quarter worth $656,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Macquarie increased their price objective on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Citigroup upgraded Visa to a “strong-buy” rating in a research report on Thursday. KeyCorp reiterated an “overweight” rating and issued a $405.00 price objective on shares of Visa in a research report on Wednesday. UBS Group reiterated a “buy” rating and issued a $415.00 price objective (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Finally, Truist Financial reduced their target price on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $392.75.

Visa Stock Up 0.4%

V opened at $347.34 on Friday. The stock has a market cap of $636.60 billion, a PE ratio of 33.92, a P/E/G ratio of 2.05 and a beta of 0.90. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 52 week low of $280.78 and a 52 week high of $375.51. The business’s fifty day simple moving average is $344.79 and its 200 day simple moving average is $347.60.

Visa (NYSE:V) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.42 earnings per share. As a group, research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is 23.05%.

Visa Company 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.