Visa Inc. $V Shares Sold by AMJ Financial Wealth Management

AMJ Financial Wealth Management reduced its position in shares of Visa Inc. (NYSE:V) by 49.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,459 shares of the credit-card processor’s stock after selling 11,124 shares during the period. AMJ Financial Wealth Management’s holdings in Visa were worth $3,912,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Sonoma Allocations LLC acquired a new stake in Visa in the 3rd quarter worth about $710,000. AQR Capital Management LLC increased its stake in shares of Visa by 1.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,241,348 shares of the credit-card processor’s stock valued at $438,196,000 after acquiring an additional 21,401 shares during the last quarter. Baltimore Washington Financial Advisors Inc. boosted its position in shares of Visa by 5.9% in the second quarter. Baltimore Washington Financial Advisors Inc. now owns 95,150 shares of the credit-card processor’s stock worth $33,783,000 after acquiring an additional 5,295 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of Visa by 2.6% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 574,043 shares of the credit-card processor’s stock worth $198,596,000 after acquiring an additional 14,581 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in Visa by 24.1% in the third quarter. Federated Hermes Inc. now owns 823,262 shares of the credit-card processor’s stock valued at $281,045,000 after purchasing an additional 159,906 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Daiwa Securities Group raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $370.00 price target on the stock in a research note on Monday, February 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $411.00 target price (up previously from $398.00) on shares of Visa in a report on Friday, January 30th. Raymond James Financial restated an “outperform” rating and set a $408.00 price target (up from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Truist Financial set a $372.00 price objective on Visa in a research note on Tuesday, February 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research report on Wednesday, January 21st. Seven research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $391.43.

Visa Stock Performance

Shares of NYSE:V opened at $320.90 on Friday. The business’s 50-day simple moving average is $336.40 and its 200 day simple moving average is $338.96. The company has a market cap of $582.49 billion, a P/E ratio of 30.10, a PEG ratio of 1.84 and a beta of 0.79. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.11. Visa Inc. has a one year low of $299.00 and a one year high of $375.51.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $3.14 by $0.03. The firm had revenue of $10.90 billion during the quarter, compared to analysts’ expectations of $10.69 billion. Visa had a return on equity of 61.74% and a net margin of 50.23%.Visa’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.75 EPS. On average, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s payout ratio is 25.14%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total value of $3,661,152.30. Following the transaction, the chief executive officer owned 9,401 shares in the company, valued at $3,282,641.18. The trade was a 52.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.12% of the stock is owned by company insiders.

Visa Profile

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.