Forvis Mazars Wealth Advisors LLC Has $2.90 Million Stock Holdings in Visa Inc. $V

Forvis Mazars Wealth Advisors LLC reduced its position in shares of Visa Inc. (NYSE:VFree Report) by 16.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,483 shares of the credit-card processor’s stock after selling 1,697 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Visa were worth $2,896,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in V. Norges Bank acquired a new position in shares of Visa during the second quarter worth approximately $7,034,939,000. TCI Fund Management Ltd. increased its stake in Visa by 14.6% during the 2nd quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock valued at $6,769,936,000 after purchasing an additional 2,429,996 shares in the last quarter. Corient Private Wealth LLC raised its holdings in Visa by 110.4% during the second quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock worth $1,396,930,000 after buying an additional 2,075,289 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Visa by 0.9% in the second quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock valued at $57,711,249,000 after buying an additional 1,461,575 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Visa by 2.5% during the second quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock worth $15,253,245,000 after acquiring an additional 1,067,631 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa News Summary

Here are the key news stories impacting Visa this week:

Visa Trading Down 0.0%

Shares of V stock opened at $325.71 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The firm has a market cap of $593.36 billion, a P/E ratio of 31.90, a PEG ratio of 1.92 and a beta of 0.81. The company has a 50 day moving average of $338.77 and a 200-day moving average of $342.83. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51.

Visa (NYSE:VGet Free Report) last announced its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The business had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same period in the prior year, the company earned $2.71 earnings per share. Visa’s revenue was up 11.5% compared to the same quarter last year. Sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 12th were issued a $0.67 dividend. This is an increase from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s payout ratio is 26.25%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $349.18, for a total value of $3,661,152.30. Following the sale, the chief executive officer directly owned 9,401 shares in the company, valued at approximately $3,282,641.18. The trade was a 52.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lloyd Carney sold 900 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the transaction, the director owned 2,468 shares of the company’s stock, valued at $830,432.64. This represents a 26.72% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 24,042 shares of company stock worth $8,247,289. Company insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Hsbc Global Res upgraded Visa from a “hold” rating to a “strong-buy” rating in a report on Monday, December 8th. HSBC upgraded Visa from a “hold” rating to a “buy” rating and upped their price target for the stock from $335.00 to $389.00 in a report on Sunday, December 7th. Morgan Stanley set a $398.00 price objective on Visa and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Visa in a report on Wednesday, October 22nd. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $401.52.

View Our Latest Analysis on V

Visa Profile

(Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

See Also

Institutional Ownership by Quarter for Visa (NYSE:V)

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