GEM Asset Management LLC lowered its position in shares of Visa Inc. (NYSE:V – Free Report) 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 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.
Read Our Latest Stock Analysis on Visa
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.
Read More
- Five stocks we like better than Visa
- Business Services Stocks Investing
- MercadoLibre Targets Double-Digit Upside with Argentina Boom
- Canada Bond Market Holiday: How to Invest and Trade
- Domino’s Pizza Stock Delivers: A Hot Buy for Growth Investors
- What is the Shanghai Stock Exchange Composite Index?
- 3 Small-Cap Stocks Ready to Deliver Significant Growth
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V – Free Report).
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.