Visa Inc. $V Stake Lowered by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. lowered its position in Visa Inc. (NYSE:V) by 6.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,505 shares of the credit-card processor’s stock after selling 2,456 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Visa were worth $12,443,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in 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 buying an additional 29 shares during the last quarter. Semus Wealth Partners LLC increased its holdings in shares of Visa by 0.8% during 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 acquiring an additional 29 shares during the last quarter. BankPlus Wealth Management LLC increased its holdings in shares of Visa by 0.9% during 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 acquiring an additional 29 shares during the last quarter. Transcendent Capital Group LLC grew its stake in Visa by 2.9% in the 2nd quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock valued at $360,000 after buying an additional 29 shares during the last quarter. Finally, Valued Retirements Inc. raised its holdings in Visa by 4.3% in the 1st quarter. Valued Retirements Inc. now owns 728 shares of the credit-card processor’s stock worth $255,000 after acquiring an additional 30 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa 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 sale, the general counsel 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 position. 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 business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at $183,117. The trade was a 95.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 23,897 shares of company stock worth $8,164,561. 0.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on V. Truist Financial cut their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. KeyCorp reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Visa in a report on Wednesday, October 22nd. Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. UBS Group set a $425.00 price objective on Visa and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, Citigroup raised shares of Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $400.00.

Visa Stock Down 0.3%

Shares of V stock opened at $335.91 on Friday. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The firm has a fifty day moving average of $343.52 and a 200-day moving average of $348.74. The company has a market capitalization of $615.66 billion, a price-to-earnings ratio of 32.90, a P/E/G ratio of 2.03 and a beta of 0.87.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. The firm had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.71 EPS. As a group, equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a dividend of $0.67 per share. This is an increase from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 12th. Visa’s payout ratio is currently 23.11%.

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.