Visa Inc. (NYSE:V) Stock Position Lessened by Independent Advisor Alliance

Independent Advisor Alliance trimmed its holdings in shares of Visa Inc. (NYSE:V) by 10.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 71,370 shares of the credit-card processor’s stock after selling 7,927 shares during the period. Visa makes up approximately 0.7% of Independent Advisor Alliance’s investment portfolio, making the stock its 25th largest holding. Independent Advisor Alliance’s holdings in Visa were worth $19,623,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of V. Davis R M Inc. boosted its holdings in shares of Visa by 2.4% in the third quarter. Davis R M Inc. now owns 284,030 shares of the credit-card processor’s stock valued at $78,094,000 after acquiring an additional 6,566 shares in the last quarter. Prosperity Financial Group Inc. raised its holdings in shares of Visa by 5.2% in the 3rd quarter. Prosperity Financial Group Inc. now owns 4,882 shares of the credit-card processor’s stock worth $1,342,000 after purchasing an additional 242 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Visa by 2.1% during the third quarter. Fisher Asset Management LLC now owns 9,584,713 shares of the credit-card processor’s stock valued at $2,635,317,000 after purchasing an additional 196,891 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Visa by 7.2% during the third quarter. Daiwa Securities Group Inc. now owns 304,618 shares of the credit-card processor’s stock worth $83,755,000 after buying an additional 20,368 shares in the last quarter. Finally, Hartford Funds Management Co LLC grew its position in Visa by 3.2% in the third quarter. Hartford Funds Management Co LLC now owns 4,154 shares of the credit-card processor’s stock worth $1,142,000 after buying an additional 129 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Price Performance

NYSE V opened at $309.92 on Monday. The stock has a 50-day simple moving average of $289.52 and a 200 day simple moving average of $277.34. Visa Inc. has a twelve month low of $251.61 and a twelve month high of $312.44. The stock has a market capitalization of $577.34 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 quick ratio of 1.28 and a current ratio of 1.28.

Visa (NYSE:V) last posted its quarterly earnings data 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. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.33 earnings per share. Research analysts anticipate that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on V. Bank of America lifted their target price on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Jefferies Financial Group boosted their price objective on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Compass Point assumed coverage on shares of Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective for the company. The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 price objective on shares of Visa in a research report on Thursday, September 12th. Finally, Piper Sandler increased their target price on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction 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 directly owns 538 shares in the company, valued at approximately $148,687.06. This represents a 94.13 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

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.