Asset Dedication LLC Sells 3,677 Shares of Visa Inc. (NYSE:V)

Asset Dedication LLC lessened its stake in shares of Visa Inc. (NYSE:V) by 12.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,656 shares of the credit-card processor’s stock after selling 3,677 shares during the quarter. Asset Dedication LLC’s holdings in Visa were worth $7,054,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Westend Capital Management LLC acquired a new position in Visa during the first quarter worth $25,000. POM Investment Strategies LLC raised its holdings in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares during the last quarter. TruNorth Capital Management LLC lifted its position in Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares in the last quarter. Bbjs Financial Advisors LLC acquired a new position in Visa during the 2nd quarter valued at about $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in Visa during the 2nd quarter worth approximately $35,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Jefferies Financial Group lowered their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. 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. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Finally, Evercore ISI cut their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $313.81.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the 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 sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.19% of the stock is owned by corporate insiders.

Visa Stock Down 0.5 %

Shares of NYSE:V opened at $279.29 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a 52-week low of $228.03 and a 52-week high of $293.07. The firm has a market capitalization of $510.80 billion, a P/E ratio of 31.21, a P/E/G ratio of 1.92 and a beta of 0.96. The stock has a 50 day moving average price of $275.07 and a 200-day moving average price of $272.63.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the previous year, the business posted $2.16 EPS. The company’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, equities research analysts anticipate that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis 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.