Visa Inc. $V Shares Sold by Guinness Asset Management LTD

Guinness Asset Management LTD trimmed its position in shares of Visa Inc. (NYSE:V) by 4.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,963 shares of the credit-card processor’s stock after selling 6,699 shares during the period. Guinness Asset Management LTD’s holdings in Visa were worth $47,270,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in V. Transcendent Capital Group LLC increased its stake in shares of Visa by 2.9% in the second quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock worth $360,000 after buying an additional 29 shares during the last quarter. Insight Wealth Strategies LLC lifted its position in shares of Visa by 1.6% during the third quarter. Insight Wealth Strategies LLC now owns 1,875 shares of the credit-card processor’s stock worth $640,000 after purchasing an additional 29 shares during the last quarter. Old Port Advisors lifted its position in shares of Visa by 0.9% during the third quarter. Old Port Advisors now owns 3,423 shares of the credit-card processor’s stock worth $1,169,000 after purchasing an additional 29 shares during the last quarter. Interchange Capital Partners LLC grew its stake in Visa by 0.5% in the second quarter. Interchange Capital Partners LLC now owns 6,413 shares of the credit-card processor’s stock worth $2,276,000 after purchasing an additional 30 shares in the last quarter. Finally, Carr Financial Group Corp increased its holdings in Visa by 2.4% in the third quarter. Carr Financial Group Corp now owns 1,290 shares of the credit-card processor’s stock valued at $440,000 after buying an additional 30 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity

In related news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 9,401 shares in the company, valued at $3,282,641.18. This represents a 52.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul D. Fabara sold 2,172 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the sale, the insider owned 26,413 shares in the company, valued at $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

V has been the topic of a number of research analyst reports. Robert W. Baird set a $425.00 target price on Visa in a report on Wednesday, October 29th. TD Cowen reaffirmed a “buy” rating on shares of Visa in a report on Friday, January 30th. Truist Financial set a $374.00 target price on shares of Visa in a report on Tuesday, January 20th. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Evercore ISI set a $380.00 price objective on shares of Visa in a research report on Friday, December 12th. Six analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Visa currently has a consensus rating of “Buy” and an average price target of $392.00.

Visa Price Performance

NYSE V opened at $329.05 on Friday. The company has a 50-day moving average price of $338.56 and a two-hundred day moving average price of $341.08. Visa Inc. has a 52 week low of $299.00 and a 52 week high of $375.51. The stock has a market cap of $599.43 billion, a price-to-earnings ratio of 30.87, a price-to-earnings-growth 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.

Visa (NYSE:V) last issued its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.03. Visa had a return on equity of 61.74% and a net margin of 50.23%.The business had revenue of $10.90 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the previous year, the firm posted $2.75 earnings per share. The business’s revenue was up 14.6% on a year-over-year basis. Analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed 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. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, February 10th. Visa’s payout ratio is currently 25.14%.

About Visa

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.