Logan Capital Management Inc. Trims Holdings in Visa Inc. $V

Logan Capital Management Inc. lowered its stake in shares of Visa Inc. (NYSE:V) by 3.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,957 shares of the credit-card processor’s stock after selling 890 shares during the period. Logan Capital Management Inc.’s holdings in Visa were worth $9,926,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Yeomans Consulting Group Inc. increased its position in Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock worth $360,000 after purchasing an additional 29 shares during the last quarter. Semus Wealth Partners LLC boosted its holdings in Visa by 0.8% in the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock valued at $1,209,000 after purchasing an additional 29 shares during the last quarter. BankPlus Wealth Management LLC grew its stake in shares of Visa by 0.9% in the 2nd quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock valued at $1,185,000 after buying an additional 29 shares during the period. Transcendent Capital Group LLC increased its holdings in shares of Visa by 2.9% during the 2nd quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock worth $360,000 after buying an additional 29 shares during the last quarter. Finally, Wood Tarver Financial Group LLC increased its holdings in shares of Visa by 11.1% during the 1st quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor’s stock worth $105,000 after buying an additional 30 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Down 1.7%

NYSE V opened at $340.93 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $624.86 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 2.05 and a beta of 0.90. The firm has a 50 day simple moving average of $344.93 and a 200-day simple moving average of $348.30. Visa Inc. has a one year low of $287.19 and a one year high of $375.51.

Visa (NYSE:V) last released its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.20%. The company had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same period in the prior year, the business earned $2.71 EPS. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. Equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. Visa’s dividend payout ratio (DPR) is 23.05%.

Insider Buying and Selling at Visa

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

Analyst Ratings Changes

A number of research analysts recently commented on V shares. Oppenheimer upped their price objective on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Truist Financial cut their price objective on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $400.00.

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.