Stonebrook Private Inc. Sells 169 Shares of Visa Inc. (NYSE:V)

Stonebrook Private Inc. trimmed its holdings in shares of Visa Inc. (NYSE:V) by 2.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,066 shares of the credit-card processor’s stock after selling 169 shares during the quarter. Stonebrook Private Inc.’s holdings in Visa were worth $2,218,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. WFA Asset Management Corp lifted its stake in Visa by 4.6% in the first quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock valued at $632,000 after purchasing an additional 100 shares during the last quarter. Bamco Inc. NY raised its stake in shares of Visa by 12.3% in the first quarter. Bamco Inc. NY now owns 190,107 shares of the credit-card processor’s stock valued at $53,055,000 after buying an additional 20,786 shares during the period. London & Capital Asset Management Ltd raised its stake in shares of Visa by 2.6% in the first quarter. London & Capital Asset Management Ltd now owns 85,712 shares of the credit-card processor’s stock valued at $23,921,000 after buying an additional 2,138 shares during the period. Transcendent Capital Group LLC grew its stake in shares of Visa by 5.1% during the 1st quarter. Transcendent Capital Group LLC now owns 2,697 shares of the credit-card processor’s stock worth $753,000 after acquiring an additional 132 shares during the period. Finally, Ascent Group LLC increased its holdings in Visa by 12.9% in the 1st quarter. Ascent Group LLC now owns 41,542 shares of the credit-card processor’s stock worth $11,594,000 after acquiring an additional 4,735 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

V has been the subject of several analyst reports. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Piper Sandler lifted their price target on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Bank of America lifted their target price on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Finally, BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a report on Tuesday, September 3rd. Four equities research 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $321.74.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 94.13 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

Visa Stock Up 0.0 %

Shares of NYSE:V opened at $309.93 on Friday. The stock’s 50-day moving average is $289.52 and its 200 day moving average is $277.33. The company has a market cap of $577.36 billion, a PE ratio of 31.85, a P/E/G ratio of 2.08 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. Visa Inc. has a 1 year low of $251.61 and a 1 year high of $312.44.

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

Visa Increases Dividend

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

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.