Benchmark Financial Wealth Advisors LLC Cuts Stock Position in Visa Inc. (NYSE:V)

Benchmark Financial Wealth Advisors LLC lowered its position in Visa Inc. (NYSE:V) by 10.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,022 shares of the credit-card processor’s stock after selling 357 shares during the quarter. Benchmark Financial Wealth Advisors LLC’s holdings in Visa were worth $831,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Radnor Capital Management LLC grew its holdings in Visa by 11.1% in the 3rd quarter. Radnor Capital Management LLC now owns 11,120 shares of the credit-card processor’s stock worth $3,057,000 after buying an additional 1,115 shares in the last quarter. Wisconsin Capital Management LLC raised its stake in Visa by 1.1% during the 3rd quarter. Wisconsin Capital Management LLC now owns 31,656 shares of the credit-card processor’s stock valued at $8,704,000 after purchasing an additional 335 shares during the period. Avidian Wealth Enterprises LLC lifted its holdings in shares of Visa by 3.8% in the third quarter. Avidian Wealth Enterprises LLC now owns 8,590 shares of the credit-card processor’s stock valued at $2,362,000 after purchasing an additional 316 shares in the last quarter. Beacon Financial Advisory LLC boosted its position in Visa by 6.3% during the 3rd quarter. Beacon Financial Advisory LLC now owns 8,093 shares of the credit-card processor’s stock worth $2,225,000 after acquiring an additional 483 shares during the period. Finally, Marks Group Wealth Management Inc grew its position in Visa by 3.3% in the third quarter. Marks Group Wealth Management Inc now owns 59,027 shares of the credit-card processor’s stock worth $16,229,000 after acquiring an additional 1,895 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the 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 completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on V shares. Susquehanna increased their price objective on Visa from $326.00 to $339.00 and gave the company a “positive” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Barclays increased their price target on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a report on Monday. Macquarie upped their price objective on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group upped their price target on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Visa Stock Performance

NYSE:V opened at $307.36 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The stock has a 50 day simple moving average of $282.69 and a 200 day simple moving average of $274.20. Visa Inc. has a 1-year low of $240.97 and a 1-year high of $309.00. The stock has a market cap of $560.11 billion, a P/E ratio of 31.59, a PEG ratio of 1.96 and a beta of 0.95.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.33 EPS. Research analysts anticipate that Visa Inc. will post 11.18 earnings per share for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.77%. Visa’s dividend payout ratio (DPR) is currently 21.38%.

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.