Profund Advisors LLC Has $4 Million Stock Position in Visa Inc. (NYSE:V)

Profund Advisors LLC grew its holdings in shares of Visa Inc. (NYSE:VGet Rating) by 0.4% in the third quarter, Holdings Channel reports. The institutional investor owned 22,525 shares of the credit-card processor’s stock after acquiring an additional 96 shares during the period. Profund Advisors LLC’s holdings in Visa were worth $4,002,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. 1ST Source Bank raised its position in shares of Visa by 0.3% during the second quarter. 1ST Source Bank now owns 14,266 shares of the credit-card processor’s stock valued at $2,809,000 after buying an additional 47 shares during the last quarter. Austin Private Wealth LLC raised its position in shares of Visa by 1.4% during the second quarter. Austin Private Wealth LLC now owns 3,522 shares of the credit-card processor’s stock valued at $693,000 after buying an additional 49 shares during the last quarter. Copperleaf Capital LLC raised its position in shares of Visa by 0.6% during the second quarter. Copperleaf Capital LLC now owns 7,968 shares of the credit-card processor’s stock valued at $1,569,000 after buying an additional 49 shares during the last quarter. CNB Bank raised its position in shares of Visa by 0.8% during the second quarter. CNB Bank now owns 6,338 shares of the credit-card processor’s stock valued at $1,248,000 after buying an additional 49 shares during the last quarter. Finally, JGP Wealth Management LLC raised its position in shares of Visa by 1.9% during the second quarter. JGP Wealth Management LLC now owns 2,649 shares of the credit-card processor’s stock valued at $533,000 after buying an additional 50 shares during the last quarter. 81.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

V has been the topic of several recent analyst reports. Jefferies Financial Group lifted their price objective on shares of Visa from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, January 18th. BMO Capital Markets reduced their price target on shares of Visa from $257.00 to $241.00 and set an “outperform” rating on the stock in a research report on Thursday, October 27th. Morgan Stanley boosted their price target on shares of Visa from $282.00 to $284.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 26th. Oppenheimer boosted their price target on shares of Visa from $210.00 to $237.00 in a research report on Wednesday. Finally, Truist Financial boosted their price target on shares of Visa from $235.00 to $260.00 in a research report on Friday, January 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average price target of $256.15.

Visa Trading Down 1.0 %

Shares of V traded down $2.16 during trading hours on Wednesday, reaching $221.73. 1,121,068 shares of the company traded hands, compared to its average volume of 5,538,267. The firm has a market cap of $417.63 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 1.80 and a beta of 0.95. Visa Inc. has a 12-month low of $174.60 and a 12-month high of $250.58. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.61. The stock’s fifty day moving average price is $212.92 and its 200 day moving average price is $204.65.

Visa (NYSE:VGet Rating) last issued its earnings results on Tuesday, October 25th. The credit-card processor reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.07. The firm had revenue of $7.79 billion during the quarter, compared to analyst estimates of $7.55 billion. Visa had a net margin of 51.03% and a return on equity of 48.56%. Sell-side analysts forecast that Visa Inc. will post 8.3 earnings per share for the current year.

Visa Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Friday, December 16th were issued a $0.395 dividend. The ex-dividend date of this dividend was Thursday, December 15th. This represents a $1.58 annualized dividend and a dividend yield of 0.71%. Visa’s payout ratio is currently 25.75%.

Visa declared that its Board of Directors has approved a share buyback program on Tuesday, October 25th that permits the company to repurchase $12.00 billion in shares. This repurchase authorization permits the credit-card processor to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at Visa

In related news, President Ryan Mcinerney sold 58,197 shares of Visa stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $62.47, for a total value of $3,635,566.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Visa news, insider Rajat Taneja sold 25,627 shares of the business’s stock in a transaction dated Friday, December 2nd. The shares were sold at an average price of $216.67, for a total value of $5,552,602.09. Following the completion of the transaction, the insider now directly owns 232,112 shares in the company, valued at $50,291,707.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Ryan Mcinerney sold 58,197 shares of the business’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $62.47, for a total transaction of $3,635,566.59. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Visa Company Profile

(Get Rating)

Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).

Recommended Stories

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:VGet Rating).

Institutional Ownership by Quarter for Visa (NYSE:V)

Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.