OneAscent Financial Services LLC Has $1.46 Million Stock Holdings in Visa Inc. (NYSE:V)

OneAscent Financial Services LLC cut its stake in shares of Visa Inc. (NYSE:V) by 13.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,308 shares of the credit-card processor’s stock after selling 852 shares during the period. Visa makes up about 1.0% of OneAscent Financial Services LLC’s holdings, making the stock its 17th biggest position. OneAscent Financial Services LLC’s holdings in Visa were worth $1,459,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Arjuna Capital grew its holdings in shares of Visa by 0.8% during the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after buying an additional 96 shares in the last quarter. Custom Index Systems LLC purchased a new position in shares of Visa during the third quarter valued at $731,000. Mechanics Bank Trust Department grew its holdings in shares of Visa by 8.0% during the second quarter. Mechanics Bank Trust Department now owns 32,460 shares of the credit-card processor’s stock valued at $8,520,000 after buying an additional 2,410 shares in the last quarter. Chicago Capital LLC grew its holdings in shares of Visa by 5.2% during the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after buying an additional 20,023 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft grew its holdings in shares of Visa by 9.3% during the second quarter. Baader Bank Aktiengesellschaft now owns 58,655 shares of the credit-card processor’s stock valued at $15,299,000 after buying an additional 4,988 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

NYSE V opened at $312.16 on Tuesday. Visa Inc. has a twelve month low of $245.60 and a twelve month high of $312.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market capitalization of $568.85 billion, a PE ratio of 32.08, a P/E/G ratio of 2.07 and a beta of 0.95. The stock has a 50-day simple moving average of $287.57 and a 200 day simple moving average of $276.32.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the previous year, the firm earned $2.33 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. Research analysts anticipate that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is currently 24.25%.

Wall Street Analyst Weigh In

V has been the topic of a number of research analyst reports. Macquarie lifted their price target on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Oppenheimer reiterated an “outperform” rating and set a $321.00 price target (up previously from $318.00) on shares of Visa in a report on Wednesday, October 30th. William Blair upgraded Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada boosted their target price on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler boosted their target price on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 94.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is owned by insiders.

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.