Signet Financial Management LLC Sells 155 Shares of Visa Inc. (NYSE:V)

Signet Financial Management LLC lowered its stake in Visa Inc. (NYSE:V) by 1.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 14,265 shares of the credit-card processor’s stock after selling 155 shares during the quarter. Signet Financial Management LLC’s holdings in Visa were worth $4,508,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in Visa by 45,189.4% in the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock worth $2,683,101,000 after purchasing an additional 9,736,958 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Visa by 4,412.3% in the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after acquiring an additional 4,166,905 shares in the last quarter. State Street Corp lifted its position in Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after acquiring an additional 3,327,977 shares during the period. FMR LLC boosted its stake in Visa by 6.1% during the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after acquiring an additional 3,265,518 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Visa by 7.7% in the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after purchasing an additional 2,772,549 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Trading Down 0.4 %

Visa stock opened at $306.59 on Tuesday. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $321.61. The company has a market cap of $571.14 billion, a P/E ratio of 31.51, a P/E/G ratio of 2.11 and a beta of 0.96. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The business has a 50-day simple moving average of $312.44 and a two-hundred day simple moving average of $287.32.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the business posted $2.33 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. Analysts predict that Visa Inc. will post 11.23 EPS for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.77%. Visa’s payout ratio is 24.25%.

Insider Buying and Selling at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

V has been the subject of several recent research reports. Keefe, Bruyette & Woods lifted their target price on shares of Visa from $335.00 to $360.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Morgan Stanley increased their target price on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Piper Sandler lifted their price target on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Mizuho increased their price objective on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $330.85.

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.