Anchor Capital Advisors LLC Sells 113 Shares of Visa Inc. (NYSE:V)

Anchor Capital Advisors LLC lowered its position in Visa Inc. (NYSE:V) by 0.2% in the 2nd quarter, Holdings Channel reports. The fund owned 53,080 shares of the credit-card processor’s stock after selling 113 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Visa were worth $13,932,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Livelsberger Financial Advisory bought a new stake in Visa during the fourth quarter worth about $25,000. Westend Capital Management LLC purchased a new position in shares of Visa during the first quarter valued at approximately $25,000. POM Investment Strategies LLC boosted its position in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Visa in the 4th quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC grew its stake in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Visa Stock Performance

V opened at $279.37 on Friday. The company’s 50 day moving average is $266.53 and its 200 day moving average is $273.13. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market cap of $510.95 billion, a price-to-earnings ratio of 31.21, a PEG ratio of 1.98 and a beta of 0.96. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $290.96.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate of $2.42. The business had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.16 EPS. On average, equities research analysts predict that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.74%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio is presently 23.24%.

Wall Street Analyst Weigh In

V has been the topic of several analyst reports. Bank of America reissued a “neutral” rating and issued a $297.00 target price (down from $305.00) on shares of Visa in a report on Wednesday, July 10th. Royal Bank of Canada lowered their price target on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Piper Sandler cut their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Evercore ISI decreased their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Finally, William Blair upgraded shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $309.54.

Visa Company 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.