UNIVEST FINANCIAL Corp Sells 10,717 Shares of Visa Inc. $V

UNIVEST FINANCIAL Corp reduced its position in Visa Inc. (NYSE:V) by 13.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 66,232 shares of the credit-card processor’s stock after selling 10,717 shares during the period. Visa accounts for 1.1% of UNIVEST FINANCIAL Corp’s portfolio, making the stock its 18th biggest position. UNIVEST FINANCIAL Corp’s holdings in Visa were worth $23,799,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Bank Pictet & Cie Europe AG raised its stake in Visa by 0.9% in the third quarter. Bank Pictet & Cie Europe AG now owns 606,500 shares of the credit-card processor’s stock worth $217,934,000 after buying an additional 5,568 shares in the last quarter. CFC Planning Co LLC boosted its position in Visa by 13.7% during the 3rd quarter. CFC Planning Co LLC now owns 13,305 shares of the credit-card processor’s stock valued at $4,781,000 after acquiring an additional 1,607 shares in the last quarter. Vega Investment Solutions bought a new stake in Visa during the 2nd quarter valued at $829,000. Brooklands Fund Management Ltd purchased a new position in shares of Visa in the 3rd quarter valued at $5,291,000. Finally, XXEC Inc. increased its holdings in shares of Visa by 153,118.8% in the 2nd quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor’s stock valued at $63,904,097,000 after acquiring an additional 186,138,883 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 5,875 shares of Visa stock in a transaction on Friday, August 21st. The shares were sold at an average price of $367.87, for a total transaction of $2,161,236.25. Following the completion of the sale, the chief executive officer directly owned 15,174 shares in the company, valued at approximately $5,582,059.38. The trade was a 27.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie Rottenberg sold 2,028 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $381.35, for a total transaction of $773,377.80. Following the sale, the general counsel directly owned 18,404 shares in the company, valued at $7,018,365.40. This trade represents a 9.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 29,262 shares of company stock valued at $11,195,791. Corporate insiders own 0.12% of the company’s stock.

Visa Price Performance

Shares of V stock opened at $425.56 on Thursday. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $442.23. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market capitalization of $759.37 billion, a price-to-earnings ratio of 34.51, a PEG ratio of 1.80 and a beta of 0.80. The stock’s 50-day simple moving average is $388.61 and its 200-day simple moving average is $346.16.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 27th. The credit-card processor reported $3.48 EPS for the quarter, beating the consensus estimate of $3.44 by $0.04. The firm had revenue of $12.14 billion during the quarter, compared to analyst estimates of $12.09 billion. Visa had a net margin of 51.20% and a return on equity of 70.50%. Visa’s revenue was up 13.2% on a year-over-year basis. During the same period last year, the firm posted $2.98 EPS. As a group, equities analysts forecast that Visa Inc. will post 15.02 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, November 10th. This is a positive change from Visa’s previous quarterly dividend of $0.67. Visa’s dividend payout ratio (DPR) is currently 25.30%.

Analyst Ratings Changes

Several research analysts have recently commented on V shares. KeyCorp boosted their price target on Visa from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Argus raised their price objective on Visa from $396.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. lifted their target price on Visa from $450.00 to $455.00 and gave the company an “overweight” rating in a research note on Wednesday, October 28th. Truist Financial lifted their target price on Visa from $443.00 to $470.00 and gave the company a “buy” rating in a research note on Thursday, November 5th. Finally, Barclays boosted their target price on shares of Visa from $420.00 to $440.00 and gave the stock an “overweight” rating in a report on Wednesday, October 28th. Two equities research analysts have rated the stock with a Strong Buy rating and thirty-five have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $443.35.

Visa Profile

Visa Inc. operates a global payments network that connects consumers, merchants, financial institutions and governments. Its network supports the authorization, clearing and settlement of electronic payments, including transactions made in person and online. The company’s services include payment processing, fraud prevention, identity and risk management, and money-transfer solutions such as Visa Direct. Visa-branded credit, debit and prepaid cards are issued by participating financial institutions; Visa generally provides the network and related services rather than issuing cards or extending credit directly to consumers.