Visa Inc. (NYSE:V) Shares Sold by Red Cedar Investment Management LLC

Red Cedar Investment Management LLC decreased its position in shares of Visa Inc. (NYSE:V) by 25.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,214 shares of the credit-card processor’s stock after selling 2,510 shares during the period. Red Cedar Investment Management LLC’s holdings in Visa were worth $1,893,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Westend Capital Management LLC acquired a new stake in shares of Visa during the first quarter worth about $25,000. Livelsberger Financial Advisory purchased a new stake in Visa during the 4th quarter valued at approximately $25,000. Frank Rimerman Advisors LLC acquired a new stake in Visa during the 4th quarter worth approximately $33,000. 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 valued at $34,000 after purchasing an additional 89 shares during the last quarter. Finally, Abich Financial Wealth Management LLC increased its holdings in shares of Visa by 52.9% in the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after purchasing an additional 46 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of several recent research reports. Piper Sandler decreased their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their target price on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Morgan Stanley dropped their price target on shares of Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Citigroup reduced their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, Evercore ISI dropped their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Six research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $308.50.

Visa Stock Down 0.2 %

NYSE:V traded down $0.50 on Friday, hitting $267.44. 3,697,448 shares of the company’s stock traded hands, compared to its average volume of 9,242,073. The firm has a 50-day moving average price of $265.93 and a 200-day moving average price of $273.28. 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 $487.36 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 1.89 and a beta of 0.95. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same period last year, the company earned $2.16 earnings per share. Visa’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities analysts anticipate that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

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.