Obsidian Personal Planning Solutions LLC Cuts Stock Position in Visa Inc. (NYSE:V)

Obsidian Personal Planning Solutions LLC cut its position in Visa Inc. (NYSE:V) by 2.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,751 shares of the credit-card processor’s stock after selling 45 shares during the quarter. Obsidian Personal Planning Solutions LLC’s holdings in Visa were worth $507,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Unionview LLC grew its stake in shares of Visa by 1.5% during the 3rd quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock worth $631,000 after acquiring an additional 33 shares in the last quarter. KMG Fiduciary Partners LLC lifted its holdings in Visa by 0.3% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after purchasing an additional 37 shares during the last quarter. Iron Horse Wealth Management LLC lifted its holdings in shares of Visa by 15.9% during the third quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock worth $74,000 after buying an additional 37 shares in the last quarter. Washington Trust Bank raised its stake in Visa by 1.1% in the third quarter. Washington Trust Bank now owns 3,258 shares of the credit-card processor’s stock valued at $896,000 after purchasing an additional 37 shares in the last quarter. Finally, Proffitt & Goodson Inc. grew its position in Visa by 20.3% in the third quarter. Proffitt & Goodson Inc. now owns 219 shares of the credit-card processor’s stock valued at $60,000 after acquiring an additional 37 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

V has been the topic of several analyst reports. Mizuho upped their target price on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Piper Sandler upped their target price on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Susquehanna upped their target price on Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a research report on Wednesday, October 30th. Royal Bank of Canada increased their price target on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, William Blair upgraded Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s 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 sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The trade was a 94.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Visa Trading Up 0.5 %

Shares of V opened at $309.64 on Friday. The business has a 50-day moving average of $287.04 and a 200 day moving average of $275.95. Visa Inc. has a fifty-two week low of $245.60 and a fifty-two week high of $312.44. The firm has a market cap of $564.26 billion, a P/E ratio of 31.82, a price-to-earnings-growth ratio of 2.07 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter last year, the company earned $2.33 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. As a group, research analysts forecast that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.76%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is currently 24.25%.

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.