2,206 Visa Inc. $V Shares Sold by Northeast Investment Management

Northeast Investment Management trimmed its stake in shares of Visa Inc. (NYSE:V) by 0.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 235,610 shares of the credit-card processor’s stock after selling 2,206 shares during the period. Visa comprises about 3.0% of Northeast Investment Management’s portfolio, making the stock its 6th largest position. Northeast Investment Management’s holdings in Visa were worth $84,662,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Richardson Financial Services Inc. grew its stake in shares of Visa by 2.6% during the 3rd quarter. Richardson Financial Services Inc. now owns 1,216 shares of the credit-card processor’s stock worth $437,000 after acquiring an additional 31 shares in the last quarter. Ascent Group LLC raised its holdings in shares of Visa by 6.4% in the third quarter. Ascent Group LLC now owns 51,473 shares of the credit-card processor’s stock valued at $18,496,000 after purchasing an additional 3,111 shares during the last quarter. Signet Investment Advisory Group Inc. raised its holdings in shares of Visa by 1.0% in the third quarter. Signet Investment Advisory Group Inc. now owns 17,700 shares of the credit-card processor’s stock valued at $6,360,000 after purchasing an additional 182 shares during the last quarter. JCIC Asset Management Inc. lifted its position in shares of Visa by 1.5% in the third quarter. JCIC Asset Management Inc. now owns 24,886 shares of the credit-card processor’s stock worth $8,942,000 after purchasing an additional 360 shares in the last quarter. Finally, 3Chopt Investment Partners LLC lifted its position in shares of Visa by 8.8% in the third quarter. 3Chopt Investment Partners LLC now owns 6,585 shares of the credit-card processor’s stock worth $2,366,000 after purchasing an additional 532 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie Rottenberg sold 1,867 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $368.34, for a total value of $687,690.78. Following the completion of the sale, the general counsel owned 18,404 shares in the company, valued at $6,778,929.36. This trade represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 5,875 shares of Visa stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $416.22, for a total transaction of $2,445,292.50. Following the completion of the transaction, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $6,315,722.28. This trade represents a 27.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 27,395 shares of company stock worth $10,406,050 over the last ninety days. Insiders own 0.12% of the company’s stock.

Visa Trading Up 3.8%

Shares of Visa stock opened at $436.21 on Thursday. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $436.76. The stock has a market cap of $778.39 billion, a P/E ratio of 35.38, a P/E/G ratio of 1.79 and a beta of 0.80. The company has a quick ratio of 0.99, a current ratio of 0.97 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average is $384.21 and its 200-day moving average is $343.74.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 27th. The credit-card processor reported $3.48 EPS for the quarter, beating the consensus estimate of $3.44 by $0.04. Visa had a return on equity of 70.50% and a net margin of 51.20%. The company had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the prior year, the firm posted $2.98 EPS. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. Equities research analysts predict that Visa Inc. will post 15.02 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 0.7%. This is an increase from Visa’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Tuesday, November 10th. Visa’s payout ratio is currently 25.30%.

Analyst Ratings Changes

Several research analysts recently commented on V shares. Truist Financial set a $443.00 target price on shares of Visa and gave the stock a “buy” rating in a report on Friday, October 23rd. DZ Bank reiterated a “buy” rating on shares of Visa in a research note on Monday, August 3rd. Oppenheimer boosted their price target on shares of Visa from $403.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 28th. Wells Fargo & Company boosted their price target on shares of Visa from $432.00 to $463.00 and gave the stock an “overweight” rating in a research report on Thursday, October 29th. Finally, Morgan Stanley restated an “overweight” rating and issued a $471.00 price objective (up from $416.00) on shares of Visa in a report on Wednesday, October 28th. Two analysts have rated the stock with a Strong Buy rating and thirty-five have issued a Buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $440.03.

Key Headlines Impacting Visa

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Verifone has deployed Visa’s Featurespace fraud-screening technology across its payment gateways. The system assesses transactions in real time across in-store, online and mobile channels, giving Visa another opportunity to expand its fraud-prevention services; the announcements did not disclose the financial size of the deal. Article: Verifone Turns to Visa’s Featurespace to Combat Fraud
• Positive Sentiment: Visa raised its quarterly dividend from $0.67 to $0.78 per share, an increase of more than 16%. The hike signals confidence in cash generation and adds to shareholder returns, although the yield is still relatively low. Article: Visa Just Hiked Its Dividend
• Positive Sentiment: Visa’s latest reported quarter beat analyst expectations for earnings and revenue, with revenue up 13.2% year over year. That performance offers support for the growth outlook behind the dividend increase. Article: Will Earnings Beat Change Visa Stock’s Narrative
• Neutral Sentiment: Former Visa chairman and CEO Joseph Saunders, who led the company through its IPO, has died. The report is a tribute to his legacy and does not indicate an effect on Visa’s current operations. Article: Former Visa CEO Joseph Saunders Dies
• Negative Sentiment: A recent article cautioned investors about buying after Visa’s strong share-price run, noting the relatively low dividend yield. Separately, CEO Ryan McInerney sold 5,875 shares; the transaction was made under a pre-arranged trading plan, which tempers its significance as an outlook signal. Article: Visa Just Hiked Its Dividend Visa insider-trading report

Visa Company Profile

Visa Inc (NYSE: V) is a global payments technology company that facilitates electronic payments between consumers, businesses, financial institutions and governments. Through its VisaNet network, the company authorizes, clears and settles transactions made with Visa-branded credit, debit and prepaid cards, while generally not issuing cards, extending credit or setting cardholder account terms.

Visa provides payment products and services for consumer, commercial and government payments, as well as digital commerce and money movement.