Sentry Investment Management LLC Sells 1,927 Shares of Visa Inc. $V

Sentry Investment Management LLC cut its position in Visa Inc. (NYSE:V) by 29.9% in the third quarter, HoldingsChannel.com reports. The firm owned 4,524 shares of the credit-card processor’s stock after selling 1,927 shares during the period. Visa accounts for approximately 1.1% of Sentry Investment Management LLC’s investment portfolio, making the stock its 13th biggest holding. Sentry Investment Management LLC’s holdings in Visa were worth $1,590,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Visa by 0.9% in the second quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock worth $57,711,249,000 after acquiring an additional 1,461,575 shares in the last quarter. Geode Capital Management LLC boosted its stake in Visa by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock worth $15,253,245,000 after purchasing an additional 1,067,631 shares in the last quarter. Norges Bank purchased a new stake in Visa during the 2nd 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. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Visa by 1.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 12,820,885 shares of the credit-card processor’s stock worth $4,552,057,000 after buying an additional 145,665 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on V. Truist Financial set a $374.00 price objective on shares of Visa in a report on Tuesday, January 20th. Rothschild Redb upgraded Visa from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. Weiss Ratings restated a “buy (b)” rating on shares of Visa in a research note on Wednesday, January 21st. Piper Sandler set a $160.00 target price on Visa in a report on Wednesday, January 28th. Finally, TD Cowen reiterated a “buy” rating on shares of Visa in a research report on Friday, January 30th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $392.00.

Visa Trading Up 0.8%

Visa stock opened at $331.77 on Friday. The firm has a market cap of $604.40 billion, a PE ratio of 31.29, a P/E/G ratio of 1.89 and a beta of 0.79. The company has a current ratio of 1.11, a quick ratio of 1.08 and a debt-to-equity ratio of 0.51. The stock’s 50 day simple moving average is $338.56 and its two-hundred day simple moving average is $341.08. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51.

Visa (NYSE:V) last issued its quarterly earnings data 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 business had revenue of $10.90 billion during the quarter, compared to the consensus estimate of $10.69 billion. Visa had a net margin of 50.23% and a return on equity of 61.74%. The company’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.75 earnings per share. Analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred 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 directly owned 9,401 shares of the company’s stock, valued at $3,282,641.18. This trade represents a 52.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 2,172 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $325.93, for a total transaction of $707,919.96. Following the transaction, the insider directly owned 26,413 shares in the company, valued at approximately $8,608,789.09. The trade was a 7.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.12% of the company’s stock.

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.