GEM Asset Management LLC Has $999,000 Position in Visa Inc. (NYSE:V)

GEM Asset Management LLC lowered its position in shares of Visa Inc. (NYSE:V) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,650 shares of the credit-card processor’s stock after selling 101 shares during the quarter. GEM Asset Management LLC’s holdings in Visa were worth $999,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. SS&H Financial Advisors Inc. raised its position in shares of Visa by 1.9% during the third quarter. SS&H Financial Advisors Inc. now owns 9,394 shares of the credit-card processor’s stock worth $2,583,000 after acquiring an additional 174 shares during the last quarter. Steigerwald Gordon & Koch Inc. increased its holdings in Visa by 2.7% in the third quarter. Steigerwald Gordon & Koch Inc. now owns 82,859 shares of the credit-card processor’s stock valued at $22,782,000 after purchasing an additional 2,175 shares during the last quarter. Northstar Group Inc. increased its holdings in Visa by 21.0% in the third quarter. Northstar Group Inc. now owns 10,802 shares of the credit-card processor’s stock valued at $2,970,000 after purchasing an additional 1,873 shares during the last quarter. Morton Capital Management LLC CA increased its holdings in Visa by 17.4% in the third quarter. Morton Capital Management LLC CA now owns 3,665 shares of the credit-card processor’s stock valued at $1,008,000 after purchasing an additional 542 shares during the last quarter. Finally, Sanders Morris Harris LLC increased its holdings in Visa by 4.0% in the third quarter. Sanders Morris Harris LLC now owns 9,586 shares of the credit-card processor’s stock valued at $2,636,000 after purchasing an additional 368 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

NYSE:V traded up $0.11 during mid-day trading on Thursday, hitting $277.04. 1,309,400 shares of the stock were exchanged, compared to its average volume of 7,126,936. The stock has a market capitalization of $506.69 billion, a price-to-earnings ratio of 30.95, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. The firm’s 50-day simple moving average is $273.71 and its 200 day simple moving average is $272.71. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a fifty-two week low of $228.03 and a fifty-two week high of $293.07.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate of $2.42. The business had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm posted $2.16 EPS. As a group, equities analysts anticipate that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.75%. Visa’s dividend payout ratio is presently 23.24%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on V. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a report on Tuesday, September 3rd. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. TD Cowen lowered their price target on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, Piper Sandler lowered their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $312.04.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.