Dakota Wealth Management Sells 8,871 Shares of Visa Inc. $V

Dakota Wealth Management lowered its stake in shares of Visa Inc. (NYSE:V) by 6.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 137,545 shares of the credit-card processor’s stock after selling 8,871 shares during the quarter. Visa comprises 0.9% of Dakota Wealth Management’s portfolio, making the stock its 17th largest position. Dakota Wealth Management’s holdings in Visa were worth $46,955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in V. Sagard Holdings Management Inc. purchased a new stake in shares of Visa in the 2nd quarter worth approximately $31,000. Bare Financial Services Inc raised its stake in shares of Visa by 287.0% in the second quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 66 shares during the last quarter. Quaker Wealth Management LLC lifted its holdings in shares of Visa by 202.7% during the second quarter. Quaker Wealth Management LLC now owns 114 shares of the credit-card processor’s stock valued at $40,000 after purchasing an additional 225 shares in the last quarter. Winnow Wealth LLC purchased a new stake in shares of Visa during the second quarter valued at $40,000. Finally, Decker Retirement Planning Inc. bought a new stake in Visa in the 2nd quarter worth about $41,000. Institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on V shares. HSBC upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 8th. Cantor Fitzgerald raised shares of Visa to a “strong-buy” rating in a research report on Tuesday, January 27th. Robert W. Baird set a $425.00 price target on Visa in a research note on Wednesday, October 29th. Macquarie Infrastructure reaffirmed an “outperform” rating and issued a $410.00 price objective on shares of Visa in a report on Friday, January 30th. Finally, Piper Sandler set a $160.00 target price on Visa in a report on Wednesday, January 28th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $391.43.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 10,485 shares of Visa 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 completion of the transaction, the chief executive officer owned 9,401 shares in the company, valued at approximately $3,282,641.18. This trade represents a 52.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.12% of the company’s stock.

Visa Price Performance

Shares of Visa stock opened at $306.22 on Tuesday. The firm has a market cap of $555.84 billion, a PE ratio of 28.73, a PEG ratio of 1.84 and a beta of 0.79. The stock has a 50 day moving average of $335.58 and a 200 day moving average of $338.77. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51.

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

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th will be issued a $0.67 dividend. The ex-dividend date is Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.9%. Visa’s payout ratio is 25.14%.

Visa Company 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.