Mather Group LLC. reduced its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 10.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,300 shares of the credit-card processor's stock after selling 4,708 shares during the period. Mather Group LLC.'s holdings in Visa were worth $10,531,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the business. Westend Capital Management LLC bought a new position in Visa during the 1st quarter worth approximately $25,000. Livelsberger Financial Advisory purchased a new position in shares of Visa in the fourth quarter worth $25,000. POM Investment Strategies LLC raised its holdings in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor's stock valued at $28,000 after buying an additional 97 shares during the last quarter. TruNorth Capital Management LLC boosted its position 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 period. Finally, Abich Financial Wealth Management LLC grew its holdings in Visa by 52.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor's stock worth $37,000 after acquiring an additional 46 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.
In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction on 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 sale, the chief executive officer now directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.19% of the company's stock.
A number of analysts have recently weighed in on the stock. Bank of America increased their target price on shares of Visa from $279.00 to $308.00 and gave the stock a "neutral" rating in a report on Tuesday, September 17th. William Blair upgraded Visa to a "strong-buy" rating in a research report on Tuesday, July 23rd. Macquarie reissued an "outperform" rating and set a $300.00 target price on shares of Visa in a research note on Friday, September 27th. Piper Sandler cut their price target on shares of Visa from $322.00 to $319.00 and set an "overweight" rating on the stock in a report on Wednesday, July 24th. Finally, Royal Bank of Canada reduced their price objective on shares of Visa from $315.00 to $311.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $312.04.
Check Out Our Latest Stock Analysis on Visa
Shares of NYSE V opened at $273.87 on Tuesday. The firm has a market cap of $500.89 billion, a P/E ratio of 30.60, a PEG ratio of 1.92 and a beta of 0.96. Visa Inc. has a twelve month low of $228.03 and a twelve month high of $293.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average of $273.00 and a 200 day moving average of $272.86.
Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same period in the prior year, the company posted $2.16 earnings per share. The company's quarterly revenue was up 9.6% on a year-over-year basis. As a group, research analysts expect that Visa Inc. will post 9.92 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Friday, August 9th. Visa's payout ratio is presently 23.24%.
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.
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