Visa Inc. $V Position Reduced by Defined Financial Planning LLC

Defined Financial Planning LLC cut its position in shares of Visa Inc. (NYSE:V) by 9.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 902 shares of the credit-card processor’s stock after selling 92 shares during the quarter. Defined Financial Planning LLC’s holdings in Visa were worth $313,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of V. Keystone Global Partners LLC purchased a new stake in Visa during the first quarter valued at about $26,000. von Borstel & Associates Inc. acquired a new position in shares of Visa in the 1st quarter valued at about $27,000. Family Legacy Financial Solutions LLC acquired a new position in shares of Visa in the 2nd quarter valued at about $28,000. Cranbrook Wealth Management LLC increased its holdings in shares of Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares during the period. Finally, 1 North Wealth Services LLC acquired a new position in shares of Visa in the 1st quarter valued at about $38,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was 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 of the company’s stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Visa Trading Down 1.3%

NYSE:V opened at $346.66 on Friday. The stock’s 50 day moving average price is $343.68 and its 200 day moving average price is $346.98. Visa Inc. has a 52 week low of $275.35 and a 52 week high of $375.51. The company has a market capitalization of $635.36 billion, a P/E ratio of 33.85, a P/E/G ratio of 2.08 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter in the prior year, the company posted $2.42 earnings per share. The firm’s revenue was up 14.3% on a year-over-year basis. On average, research analysts forecast 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 Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is 23.05%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Macquarie upped their target price on Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Morgan Stanley upped their target price on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. UBS Group reiterated a “buy” rating and issued a $415.00 target price (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Raymond James Financial reiterated an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. Finally, Truist Financial dropped their target price on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $389.00.

About Visa

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.