Financial Management Network Inc. Lowers Stake in Visa Inc. (NYSE:V)

Financial Management Network Inc. trimmed its holdings in Visa Inc. (NYSE:V) by 0.2% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 20,127 shares of the credit-card processor’s stock after selling 37 shares during the period. Visa accounts for approximately 1.2% of Financial Management Network Inc.’s portfolio, making the stock its 22nd largest position. Financial Management Network Inc.’s holdings in Visa were worth $5,594,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. POM Investment Strategies LLC grew its position in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the last quarter. TruNorth Capital Management LLC lifted its stake in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the period. Abich Financial Wealth Management LLC boosted its holdings in shares of Visa by 52.9% in the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after acquiring an additional 46 shares in the last quarter. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Visa during the second quarter worth about $35,000. Finally, Bbjs Financial Advisors LLC purchased a new position in Visa during the second quarter worth about $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of several recent analyst reports. Piper Sandler dropped their target price on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. BMO Capital Markets lifted their price target on Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Oppenheimer started coverage on Visa in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 price objective for the company. Compass Point initiated coverage on shares of Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price on the stock. Finally, Robert W. Baird upped their price target on shares of Visa from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Four investment 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $314.19.

Visa Price Performance

V stock opened at $281.73 on Friday. The stock has a market capitalization of $515.27 billion, a price-to-earnings ratio of 31.48, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96. 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 52-week low of $228.03 and a 52-week high of $293.07. The stock’s fifty day simple moving average is $279.02 and its 200-day simple moving average is $273.17.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the 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 transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is owned by corporate insiders.

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.