Lindbrook Capital LLC Sells 1,328 Shares of Visa Inc. (NYSE:V)

Lindbrook Capital LLC lowered its position in shares of Visa Inc. (NYSE:V) by 10.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,346 shares of the credit-card processor’s stock after selling 1,328 shares during the period. Lindbrook Capital LLC’s holdings in Visa were worth $3,120,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in V. POM Investment Strategies LLC raised its holdings in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the last quarter. Reston Wealth Management LLC bought a new stake in Visa in the 3rd quarter worth approximately $31,000. TruNorth Capital Management LLC raised its stake in Visa by 211.9% during 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 last quarter. Abich Financial Wealth Management LLC lifted its holdings in shares of Visa by 52.9% during the 1st 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 during the period. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in shares of Visa in the 2nd quarter worth $35,000. 82.15% of the stock is owned by institutional investors.

Visa Stock Up 0.7 %

Shares of V opened at $307.87 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. The stock has a market capitalization of $561.03 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95. Visa Inc. has a 1 year low of $240.97 and a 1 year high of $311.15. The business’s 50 day simple moving average is $283.95 and its 200-day simple moving average is $274.67.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS 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 during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the business earned $2.33 earnings per share. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities analysts expect that Visa Inc. will post 11.18 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.77%. The ex-dividend date is Tuesday, November 12th. Visa’s payout ratio is presently 21.38%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on V. Royal Bank of Canada upped their price objective on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their price objective on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Macquarie boosted their target price on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Piper Sandler lifted their price target on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

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.