Visa Inc. (NYSE:V) Shares Sold by Norway Savings Bank

Norway Savings Bank trimmed its holdings in Visa Inc. (NYSE:V) by 3.1% during the third quarter, Holdings Channel reports. The institutional investor owned 3,432 shares of the credit-card processor’s stock after selling 108 shares during the period. Norway Savings Bank’s holdings in Visa were worth $944,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Westend Capital Management LLC acquired a new stake in Visa during the first quarter worth about $25,000. Livelsberger Financial Advisory purchased a new stake in shares of Visa during the 4th quarter worth about $25,000. POM Investment Strategies LLC increased its position in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares in the last quarter. TruNorth Capital Management LLC raised its holdings in Visa by 211.9% in the second 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. Finally, Abich Financial Wealth Management LLC lifted its position in Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after buying an additional 46 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on V. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 price target on shares of Visa in a report on Thursday, September 12th. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Jefferies Financial Group lowered their target price on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Piper Sandler reduced their price target on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $313.81.

Visa Stock Performance

NYSE V traded up $1.37 during trading hours on Tuesday, reaching $282.05. The company’s stock had a trading volume of 1,796,155 shares, compared to its average volume of 7,086,296. 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 business has a 50-day simple moving average of $274.65 and a 200 day simple moving average of $272.63. Visa Inc. has a 52 week low of $228.03 and a 52 week high of $293.07. The stock has a market cap of $515.85 billion, a PE ratio of 31.49, a PEG ratio of 1.92 and a beta of 0.96.

Visa (NYSE:V) last announced its quarterly earnings results 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. The business had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business’s revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $2.16 EPS. Equities research analysts predict that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

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