Prospect Financial Services LLC Sells 460 Shares of Visa Inc. $V

Prospect Financial Services LLC lessened its holdings in Visa Inc. (NYSE:V) by 42.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 628 shares of the credit-card processor’s stock after selling 460 shares during the quarter. Prospect Financial Services LLC’s holdings in Visa were worth $223,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Nuveen LLC acquired a new stake in shares of Visa in the 1st quarter valued at approximately $3,518,533,000. Vanguard Group Inc. increased its position in Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after purchasing an additional 1,677,088 shares in the last quarter. Wellington Management Group LLP lifted its stake in Visa by 17.7% in the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock valued at $3,847,953,000 after purchasing an additional 1,651,954 shares during the last quarter. Geode Capital Management LLC boosted its position in Visa by 2.5% in the second quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after buying an additional 1,067,631 shares in the last quarter. Finally, MUFG Securities EMEA plc acquired a new stake in Visa in the first quarter valued at approximately $373,240,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Down 0.9%

Shares of V stock opened at $335.76 on Friday. The company’s fifty day simple moving average is $342.43 and its two-hundred day simple moving average is $348.69. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The stock has a market capitalization of $615.37 billion, a price-to-earnings ratio of 32.89, a PEG ratio of 2.05 and a beta of 0.87. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The company 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 company earned $2.71 earnings per share. Visa’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a dividend of $0.67 per share. This is a boost from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, November 12th. Visa’s dividend payout ratio is currently 26.25%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on V. Morgan Stanley set a $398.00 price target on Visa and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Citigroup raised Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft started coverage on Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 price objective for the company. Robert W. Baird set a $425.00 price objective on shares of Visa in a report on Wednesday, October 29th. Finally, Truist Financial reduced their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $400.00.

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the transaction, the director owned 2,468 shares in the company, valued at $830,432.64. This represents a 26.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,897 shares of company stock worth $8,164,561 over the last quarter. Corporate insiders own 0.13% of the company’s stock.

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.