Visa Inc. (NYSE:V) Shares Sold by Ithaka Group LLC

Ithaka Group LLC cut its stake in Visa Inc. (NYSE:V) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,407 shares of the credit-card processor’s stock after selling 1,792 shares during the period. Visa makes up about 3.8% of Ithaka Group LLC’s portfolio, making the stock its 9th biggest holding. Ithaka Group LLC’s holdings in Visa were worth $19,908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Unionview LLC raised its stake in Visa by 1.5% during the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock valued at $631,000 after purchasing an additional 33 shares in the last quarter. St. Louis Trust Co raised its stake in shares of Visa by 0.9% in the third quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock valued at $1,068,000 after acquiring an additional 34 shares during the period. FWG Holdings LLC raised its stake in shares of Visa by 1.1% in the third quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock valued at $900,000 after acquiring an additional 34 shares during the period. KMG Fiduciary Partners LLC raised its stake in shares of Visa by 0.3% in the third quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after acquiring an additional 37 shares during the period. Finally, Iron Horse Wealth Management LLC raised its stake in shares of Visa by 15.9% in the third quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock valued at $74,000 after acquiring an additional 37 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 94.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on V. TD Cowen upped their price target on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a report on Tuesday, September 3rd. Citigroup increased their price objective on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Macquarie raised their price target on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler lifted their target price on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Stock Up 0.9 %

Shares of NYSE:V opened at $310.23 on Friday. The stock has a market cap of $565.32 billion, a price-to-earnings ratio of 31.88, a P/E/G ratio of 2.09 and a beta of 0.95. The company has a 50 day moving average of $289.07 and a 200-day moving average of $277.08. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. Visa Inc. has a one year low of $251.61 and a one year high of $312.44.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the previous year, the firm posted $2.33 earnings per share. The business’s revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts forecast that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is currently 24.25%.

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.