Schmidt P J Investment Management Inc. Has $9.98 Million Stake in Visa Inc. (NYSE:V)

Schmidt P J Investment Management Inc. lowered its stake in Visa Inc. (NYSE:V) by 1.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,308 shares of the credit-card processor’s stock after selling 491 shares during the period. Visa makes up approximately 1.7% of Schmidt P J Investment Management Inc.’s holdings, making the stock its 15th biggest position. Schmidt P J Investment Management Inc.’s holdings in Visa were worth $9,983,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Atlantic Union Bankshares Corp lifted its stake in shares of Visa by 0.8% in the first quarter. Atlantic Union Bankshares Corp now owns 21,663 shares of the credit-card processor’s stock worth $6,046,000 after buying an additional 162 shares during the last quarter. Ameliora Wealth Management Ltd. raised its holdings in Visa by 5.7% in the 1st quarter. Ameliora Wealth Management Ltd. now owns 15,109 shares of the credit-card processor’s stock worth $4,217,000 after acquiring an additional 818 shares during the period. AMF Tjanstepension AB lifted its position in Visa by 7.6% during the 1st quarter. AMF Tjanstepension AB now owns 1,639,576 shares of the credit-card processor’s stock worth $457,636,000 after acquiring an additional 115,465 shares during the last quarter. Harbour Capital Advisors LLC boosted its holdings in Visa by 0.4% during the first quarter. Harbour Capital Advisors LLC now owns 30,554 shares of the credit-card processor’s stock valued at $8,507,000 after acquiring an additional 119 shares during the period. Finally, Bridge Advisory LLC acquired a new stake in shares of Visa in the first quarter valued at about $228,000. Institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

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 shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on V. Piper Sandler cut their price objective on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Morgan Stanley reiterated an “overweight” rating and set a $322.00 target price on shares of Visa in a research note on Wednesday, September 25th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Finally, Jefferies Financial Group lowered their price objective on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $314.19.

Visa Price Performance

Shares of V stock opened at $281.73 on Friday. The firm’s 50 day moving average price is $278.73 and its two-hundred day moving average price is $273.17. The stock has a market cap of $515.27 billion, a PE ratio of 31.48, a PEG ratio of 1.96 and a beta of 0.96. Visa Inc. has a 52-week low of $228.03 and a 52-week high of $293.07. 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 (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. The business had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the company earned $2.16 EPS. As a group, analysts forecast that Visa Inc. will post 9.92 EPS for the current year.

Visa 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.