London Co. of Virginia Sells 8,302 Shares of Visa Inc. $V

London Co. of Virginia lowered its stake in Visa Inc. (NYSE:V) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 296,812 shares of the credit-card processor’s stock after selling 8,302 shares during the period. London Co. of Virginia’s holdings in Visa were worth $101,326,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Sagard Holdings Management Inc. acquired a new stake in shares of Visa in the 2nd quarter valued at $31,000. Bare Financial Services Inc raised its position in shares of Visa by 287.0% during the second quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 66 shares during the last quarter. Imprint Wealth LLC acquired a new position in shares of Visa during the third quarter valued at $39,000. Winnow Wealth LLC bought a new position in Visa in the second quarter valued at about $40,000. Finally, Moisand Fitzgerald Tamayo LLC boosted its holdings in Visa by 344.8% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 129 shares of the credit-card processor’s stock valued at $44,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on V. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a report on Wednesday, January 21st. UBS Group reaffirmed a “buy” rating on shares of Visa in a research note on Tuesday, January 13th. Morgan Stanley reiterated an “overweight” rating and set a $411.00 price target (up from $398.00) on shares of Visa in a research report on Friday, January 30th. Truist Financial set a $372.00 price target on shares of Visa in a research note on Tuesday, February 10th. Finally, Piper Sandler set a $160.00 price objective on shares of Visa in a research note on Wednesday, January 28th. Seven 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. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $392.65.

Visa Stock Performance

Shares of Visa stock opened at $310.10 on Tuesday. The stock’s fifty day simple moving average is $324.62 and its 200 day simple moving average is $335.62. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $562.88 billion, a PE ratio of 29.09, a PEG ratio of 1.76 and a beta of 0.78. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings results 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. The company had revenue of $10.90 billion during the quarter, compared to the consensus estimate of $10.69 billion. Visa had a return on equity of 61.74% and a net margin of 50.23%.The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.75 earnings per share. On average, research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 10th were paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, February 10th. Visa’s dividend payout ratio is presently 25.14%.

Insider Activity at Visa

In other news, Director Lloyd Carney sold 650 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total value of $201,253.00. Following the completion of the transaction, the director owned 2,679 shares in the company, valued at $829,471.98. This represents a 19.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the sale, the chief executive officer directly owned 9,401 shares of the company’s stock, valued at $3,282,641.18. This represents a 52.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.12% of the company’s stock.

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.