Visa Inc. $V Shares Sold by HFR Wealth Management LLC

HFR Wealth Management LLC reduced its stake in Visa Inc. (NYSE:V) by 3.9% during the 3rd quarter, Holdings Channel reports. The fund owned 42,904 shares of the credit-card processor’s stock after selling 1,762 shares during the quarter. Visa makes up approximately 4.0% of HFR Wealth Management LLC’s investment portfolio, making the stock its 9th biggest position. HFR Wealth Management LLC’s holdings in Visa were worth $15,417,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. XXEC Inc. grew its stake 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 purchasing an additional 186,138,883 shares in the last quarter. State Street Corp increased its holdings in Visa by 0.7% during the 2nd quarter. State Street Corp now owns 82,872,209 shares of the credit-card processor’s stock worth $28,432,626,000 after purchasing an additional 566,194 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Visa by 13.0% in the 2nd 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 purchasing an additional 1,808,496 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Visa by 3.7% in the 1st 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 in the last quarter. Finally, Amundi raised its position in Visa by 16.5% in the 2nd 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 in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Top Visa Stories

These are some of the V stories that stood out recently:

• Positive Sentiment: Visa is expanding stablecoin settlement with Anchorage Digital and Western Union’s USDPT, and has added the Monad blockchain as another settlement option. The initiatives could make VisaNet settlement faster and attract more institutional use, though the financial contribution is not yet clear. Visa expands stablecoin services with Anchorage Visa adds Monad and fraud API developments
• Positive Sentiment: OpenAI is rolling out ChatGPT Wallet, allowing AI agents to make purchases using existing cards, including Visa, with users approving transactions. This could create a new commerce channel for card payments, but the rollout is early and its scale is uncertain. OpenAI rolls out ChatGPT Wallet
• Positive Sentiment: Visa’s quarterly dividend was raised 16% to $0.78 per share. Bernstein also maintained an Outperform rating, adding to the supportive analyst tone. Bernstein maintains Outperform rating

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 5,875 shares of the stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $416.22, for a total value of $2,445,292.50. Following the transaction, the chief executive officer directly owned 15,174 shares in the company, valued at $6,315,722.28. This represents a 27.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fabara sold 3,401 shares of the firm’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $423.09, for a total transaction of $1,438,929.09. Following the sale, the insider directly owned 33,913 shares in the company, valued at approximately $14,348,251.17. The trade was a 9.11% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 32,663 shares of company stock worth $12,634,720 over the last three months. Insiders own 0.12% of the company’s stock.

Visa Stock Up 1.2%

Shares of NYSE:V traded up $5.24 on Friday, hitting $425.55. 4,640,217 shares of the company’s stock were exchanged, compared to its average volume of 7,084,294. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $442.23. The company has a market capitalization of $759.36 billion, a PE ratio of 34.51, a P/E/G ratio of 1.79 and a beta of 0.80. 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’s 50-day moving average is $390.37 and its 200 day moving average is $347.12.

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

Visa Increases Dividend

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

Wall Street Analysts Forecast Growth

V has been the subject of several recent research reports. The Goldman Sachs Group lifted their price objective on Visa from $420.00 to $438.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Raymond James Financial restated an “outperform” rating and set a $445.00 target price on shares of Visa in a research note on Wednesday, October 28th. UBS Group reaffirmed a “buy” rating and issued a $420.00 target price (up from $410.00) on shares of Visa in a report on Wednesday, July 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $500.00 target price (up from $445.00) on shares of Visa in a report on Wednesday, October 28th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $471.00 price target (up from $416.00) on shares of Visa in a research note on Wednesday, October 28th. Two 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, the stock presently has a consensus rating of “Buy” and an average target price 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.