Visa Inc. $V Stock Holdings Reduced by Welch & Forbes LLC

Welch & Forbes LLC lowered its position in Visa Inc. (NYSE:V) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 732,353 shares of the credit-card processor’s stock after selling 5,649 shares during the quarter. Visa makes up approximately 3.2% of Welch & Forbes LLC’s holdings, making the stock its 5th biggest position. Welch & Forbes LLC’s holdings in Visa were worth $260,022,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Keystone Global Partners LLC purchased a new position in Visa in the first quarter valued at about $26,000. Family Legacy Financial Solutions LLC bought a new stake in shares of Visa during the 2nd quarter worth about $28,000. von Borstel & Associates Inc. bought a new stake in shares of Visa during the 1st quarter worth about $27,000. Harbor Asset Planning Inc. bought a new stake in shares of Visa during the 2nd quarter worth about $29,000. Finally, Cranbrook Wealth Management LLC boosted its stake in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

NYSE V opened at $336.74 on Tuesday. Visa Inc. has a twelve month low of $290.76 and a twelve month high of $375.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.12 and a current ratio of 1.08. The stock has a market capitalization of $617.17 billion, a PE ratio of 32.98, a P/E/G ratio of 2.03 and a beta of 0.87. The stock has a 50-day simple moving average of $344.54 and a 200 day simple moving average of $348.57.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The business had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter in the previous year, the firm earned $2.71 EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. Research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

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

Wall Street Analyst Weigh In

V has been the subject of several recent analyst reports. Truist Financial decreased their price target on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Raymond James Financial reiterated an “outperform” rating and set a $408.00 price target (up previously from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Citigroup upgraded Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Robert W. Baird set a $425.00 price target on Visa in a research note on Wednesday, October 29th. Finally, Morgan Stanley set a $398.00 price target on Visa and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $400.00.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at $183,815.10. This represents a 95.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel directly 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 0.13% of the company’s stock.

Visa 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.