Visa Inc. (NYSE:V) Holdings Reduced by PBMares Wealth Management LLC

PBMares Wealth Management LLC lessened its holdings in shares of Visa Inc. (NYSE:V) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,187 shares of the credit-card processor’s stock after selling 48 shares during the period. PBMares Wealth Management LLC’s holdings in Visa were worth $876,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Hilltop National Bank acquired a new position in Visa during the 1st quarter valued at about $1,212,000. Absolute Capital Management LLC bought a new stake in Visa during the first quarter worth approximately $404,000. Davidson Capital Management Inc. lifted its position in Visa by 0.5% in the first quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after purchasing an additional 44 shares during the period. Empirical Finance LLC boosted its stake in Visa by 4.4% during the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock valued at $12,761,000 after purchasing an additional 1,914 shares in the last quarter. Finally, Arjuna Capital increased its position in shares of Visa by 0.8% during the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after purchasing an additional 96 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Trading Up 2.9 %

Shares of NYSE:V opened at $290.16 on Thursday. The firm has a fifty day moving average of $280.09 and a two-hundred day moving average of $273.38. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 12-month low of $232.99 and a 12-month high of $295.78. The firm has a market capitalization of $530.68 billion, a P/E ratio of 32.42, a price-to-earnings-growth ratio of 1.95 and a beta of 0.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the company earned $2.33 earnings per share. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities analysts expect that Visa Inc. will post 9.92 EPS for the current fiscal year.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Piper Sandler raised their target price on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday. Robert W. Baird boosted their target price on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday. TD Cowen increased their target price on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday. Jefferies Financial Group lifted their price target on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, William Blair raised Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $320.07.

Visa Company Profile

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.