Norden Group LLC Lowers Stake in Visa Inc. (NYSE:V)

Norden Group LLC reduced its position in shares of Visa Inc. (NYSE:V) by 5.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 16,818 shares of the credit-card processor’s stock after selling 1,052 shares during the period. Visa accounts for 0.9% of Norden Group LLC’s portfolio, making the stock its 23rd biggest position. Norden Group LLC’s holdings in Visa were worth $4,414,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of V. Livelsberger Financial Advisory acquired a new stake in Visa in the 4th quarter valued at about $25,000. Westend Capital Management LLC acquired a new stake in Visa in the 1st quarter valued at about $25,000. POM Investment Strategies LLC raised its holdings in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Visa in the 4th quarter valued at 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 valued at $34,000 after buying an additional 89 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on V. TD Cowen dropped their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Piper Sandler dropped their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Compass Point began coverage on shares of Visa in a research note on Wednesday. They issued a “buy” rating and a $319.00 price target for the company. Finally, Jefferies Financial Group dropped their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $309.54.

Visa Stock Up 0.3 %

V stock traded up $0.75 during midday trading on Friday, hitting $279.37. The company’s stock had a trading volume of 7,187,805 shares, compared to its average volume of 7,125,969. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $290.96. The firm has a market capitalization of $509.10 billion, a P/E ratio of 31.23, a PEG ratio of 1.98 and a beta of 0.96. The firm has a 50-day simple moving average of $266.53 and a 200-day simple moving average of $273.14.

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

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.74%. Visa’s payout ratio is 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.