5,101 Visa Inc. $V Shares Sold by Turn8 Private Wealth Inc.

Turn8 Private Wealth Inc. decreased its stake in Visa Inc. (NYSE:V) by 80.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,250 shares of the credit-card processor’s stock after selling 5,101 shares during the period. Turn8 Private Wealth Inc.’s holdings in Visa were worth $449,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. XXEC Inc. lifted its position in Visa by 153,118.8% during the 2nd quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor’s stock worth $63,904,097,000 after acquiring an additional 186,138,883 shares in the last quarter. State Street Corp grew its position in Visa by 0.7% in the second quarter. State Street Corp now owns 82,872,209 shares of the credit-card processor’s stock valued at $28,432,626,000 after acquiring an additional 566,194 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Visa by 13.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,720,068 shares of the credit-card processor’s stock valued at $5,393,398,000 after acquiring an additional 1,808,496 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Visa by 3.7% during the first quarter. Dimensional Fund Advisors LP now owns 8,842,842 shares of the credit-card processor’s stock valued at $2,672,655,000 after purchasing an additional 316,559 shares during the period. Finally, Amundi raised its stake in shares of Visa by 16.5% during the second quarter. Amundi now owns 7,714,919 shares of the credit-card processor’s stock valued at $2,646,911,000 after purchasing an additional 1,092,315 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on V shares. Rothschild & Co Redburn boosted their target price on shares of Visa from $430.00 to $444.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. President Capital upped their target price on shares of Visa from $411.00 to $474.00 and gave the company a “buy” rating in a research note on Monday, August 17th. TD Cowen reaffirmed a “buy” rating and set a $450.00 price target (up from $420.00) on shares of Visa in a report on Wednesday, October 28th. Piper Sandler reaffirmed an “overweight” rating and set a $479.00 price target (up from $430.00) on shares of Visa in a research note on Wednesday, October 28th. Finally, Truist Financial boosted their price objective on shares of Visa from $443.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating and thirty-five have assigned a Buy rating to the company’s stock. According to MarketBeat.com, Visa presently has a consensus rating of “Buy” and a consensus price target of $442.29.

Visa Trading Up 0.2%

Shares of V opened at $422.95 on Wednesday. The company has a market capitalization of $754.72 billion, a P/E ratio of 34.30, a P/E/G ratio of 1.80 and a beta of 0.80. Visa Inc. has a one year low of $293.89 and a one year 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 stock has a 50-day moving average price of $387.55 and a 200 day moving average price of $345.66.

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

Visa Increases Dividend

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

Insider Activity at Visa

In other news, General Counsel Julie Rottenberg sold 2,028 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the general counsel owned 18,404 shares of the company’s stock, valued at approximately $7,018,365.40. This trade represents a 9.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 5,875 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $367.87, for a total transaction of $2,161,236.25. Following the sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at $5,582,059.38. The trade was a 27.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 29,262 shares of company stock valued at $11,195,791. Company insiders own 0.12% of the company’s stock.

Key Headlines Impacting Visa

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Citigroup raised its price target to $490 from $440 and maintained a Buy rating, implying about 15.9% upside from the cited share price. Citigroup recommendations
• Positive Sentiment: Global Payments added Visa’s Intelligent Data Exchange API to its Adaptive Authentication platform. Sharing more transaction data with issuers is intended to reduce false declines and improve digital checkout, supporting the utility of Visa’s data tools. Global Payments expands authentication platform
• Neutral Sentiment: Visa General Counsel Julie Rottenberg sold 1,867 shares for about $790,000 under a pre-arranged Rule 10b5-1 plan. She retained 18,404 shares, which may temper concern about the sale as a signal of her outlook. SEC filing
• Negative Sentiment: A hotter-than-expected October CPI reading could renew inflation and interest-rate concerns, potentially pressuring richly valued growth-oriented stocks, including Visa. CPI and market drivers
• Negative Sentiment: Commentary on Visa’s long-term performance also flags fee-related lawsuits, stablecoin competition and a high valuation as risks that could challenge its record of outperforming the broader market. Visa’s IPO and long-term performance

Visa Company 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.