Red Door Wealth Management LLC lessened its position in Visa Inc (NYSE:V) by 3.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,150 shares of the credit-card processor’s stock after selling 352 shares during the quarter. Visa makes up about 1.4% of Red Door Wealth Management LLC’s portfolio, making the stock its 23rd biggest position. Red Door Wealth Management LLC’s holdings in Visa were worth $1,834,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in V. Ridgewood Investments LLC acquired a new position in shares of Visa during the 2nd quarter worth about $239,000. Wills Financial Group Inc. increased its position in shares of Visa by 3.4% in the second quarter. Wills Financial Group Inc. now owns 31,441 shares of the credit-card processor’s stock valued at $6,074,000 after acquiring an additional 1,023 shares during the last quarter. Taylor Cottrill Erickson & Associates Inc. raised its holdings in Visa by 4.1% during the third quarter. Taylor Cottrill Erickson & Associates Inc. now owns 3,160 shares of the credit-card processor’s stock worth $632,000 after acquiring an additional 125 shares in the last quarter. Whittier Trust Co. boosted its position in Visa by 5.0% during the second quarter. Whittier Trust Co. now owns 429,246 shares of the credit-card processor’s stock valued at $82,917,000 after purchasing an additional 20,413 shares during the last quarter. Finally, DNB Asset Management AS grew its stake in Visa by 98.0% in the second quarter. DNB Asset Management AS now owns 605,889 shares of the credit-card processor’s stock valued at $117,040,000 after purchasing an additional 299,941 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

A number of brokerages have recently issued reports on V. Morgan Stanley upped their price objective on Visa from $196.00 to $203.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Bank of America upped their price target on shares of Visa from $227.00 to $234.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Royal Bank of Canada reissued a “buy” rating and issued a $243.00 price objective on shares of Visa in a research report on Sunday, October 11th. Mizuho restated a “buy” rating and set a $250.00 price objective on shares of Visa in a research note on Thursday, October 8th. Finally, Piper Sandler raised their target price on shares of Visa from $200.00 to $206.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Six analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Visa presently has a consensus rating of “Buy” and an average target price of $214.72.

NYSE:V opened at $200.26 on Friday. Visa Inc has a 52 week low of $133.93 and a 52 week high of $217.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.55 and a current ratio of 1.55. The firm’s 50-day simple moving average is $203.88 and its 200 day simple moving average is $191.62. The firm has a market cap of $388.98 billion, a price-to-earnings ratio of 38.14, a P/E/G ratio of 3.05 and a beta of 0.90.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.05. Visa had a net margin of 51.37% and a return on equity of 40.65%. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the prior year, the business posted $1.37 EPS. The business’s revenue was down 18.6% compared to the same quarter last year. Sell-side analysts anticipate that Visa Inc will post 5.01 EPS for the current year.

In other Visa news, insider Rajat Taneja sold 45,036 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $214.00, for a total value of $9,637,704.00. Following the transaction, the insider now directly owns 230,851 shares of the company’s stock, valued at approximately $49,402,114. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $195.00, for a total transaction of $1,365,000.00. Following the completion of the transaction, the chief executive officer now owns 130,090 shares of the company’s stock, valued at $25,367,550. The disclosure for this sale can be found here. Insiders have sold 118,122 shares of company stock worth $24,748,541 in the last three months. 0.19% of the stock is currently owned by company insiders.

Visa Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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