Visa Inc. $V Position Trimmed by Ithaka Group LLC

Ithaka Group LLC decreased its stake in shares of Visa Inc. (NYSE:V) by 19.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,896 shares of the credit-card processor’s stock after selling 12,852 shares during the quarter. Visa comprises 3.1% of Ithaka Group LLC’s holdings, making the stock its 9th biggest position. Ithaka Group LLC’s holdings in Visa were worth $18,058,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in V. Whalerock Point Partners LLC lifted its position in Visa by 0.4% during the 3rd quarter. Whalerock Point Partners LLC now owns 52,229 shares of the credit-card processor’s stock worth $17,830,000 after acquiring an additional 191 shares during the period. IAG Wealth Partners LLC increased its holdings in shares of Visa by 25.0% in the third quarter. IAG Wealth Partners LLC now owns 495 shares of the credit-card processor’s stock valued at $169,000 after purchasing an additional 99 shares during the period. Mill Creek Capital Advisors LLC raised its stake in shares of Visa by 3.0% in the third quarter. Mill Creek Capital Advisors LLC now owns 9,188 shares of the credit-card processor’s stock worth $3,137,000 after purchasing an additional 270 shares during the last quarter. Lansing Street Advisors lifted its holdings in shares of Visa by 18.1% during the third quarter. Lansing Street Advisors now owns 887 shares of the credit-card processor’s stock worth $303,000 after purchasing an additional 136 shares during the period. Finally, 360 Financial Inc. lifted its holdings in shares of Visa by 3.0% during the third quarter. 360 Financial Inc. now owns 3,757 shares of the credit-card processor’s stock worth $1,283,000 after purchasing an additional 108 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the completion of the transaction, the chief executive officer directly owned 9,401 shares in the company, valued at approximately $3,282,641.18. This represents a 52.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Truist Financial set a $372.00 price target on shares of Visa in a research report on Tuesday, February 10th. HSBC upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 8th. Evercore set a $380.00 target price on shares of Visa in a research report on Friday, December 12th. Rothschild & Co Redburn set a $385.00 price target on Visa in a research report on Wednesday, January 28th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research note on Wednesday, January 21st. Seven analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Visa has a consensus rating of “Buy” and an average target price of $391.43.

Visa Trading Up 1.2%

Shares of Visa stock opened at $316.65 on Friday. The firm has a 50-day simple moving average of $333.60 and a two-hundred day simple moving average of $338.23. The company has a market cap of $574.77 billion, a P/E ratio of 29.70, a price-to-earnings-growth ratio of 1.79 and a beta of 0.79. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.11.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.14 by $0.03. The company had revenue of $10.90 billion for the quarter, compared to the consensus estimate of $10.69 billion. Visa had a return on equity of 61.74% and a net margin of 50.23%.Visa’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.75 earnings per share. As a group, equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, February 10th. Visa’s payout ratio is presently 25.14%.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.