Visa Inc. (NYSE:V) Shares Sold by Ithaka Group LLC

Ithaka Group LLC cut its stake in shares of Visa Inc. (NYSE:V) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 74,199 shares of the credit-card processor’s stock after selling 3,045 shares during the period. Visa accounts for about 3.6% of Ithaka Group LLC’s investment portfolio, making the stock its 10th biggest holding. Ithaka Group LLC’s holdings in Visa were worth $19,475,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Livelsberger Financial Advisory acquired a new stake in shares of Visa in the fourth quarter valued at approximately $25,000. Westend Capital Management LLC acquired a new stake in shares of Visa in the first quarter valued at approximately $25,000. POM Investment Strategies LLC lifted its holdings in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in Visa during the 4th quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC lifted its holdings in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Up 0.7 %

Shares of NYSE:V opened at $287.35 on Monday. The company has a market capitalization of $523.64 billion, a price-to-earnings ratio of 32.11, a P/E/G ratio of 2.01 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The business’s 50-day moving average is $268.29 and its 200-day moving average is $273.16. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business earned $2.16 EPS. Equities research analysts predict that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s payout ratio is 23.24%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on V shares. Piper Sandler dropped 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. Compass Point started coverage on Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target for the company. Bank of America reissued a “neutral” rating and set a $297.00 price target (down from $305.00) on shares of Visa in a report on Wednesday, July 10th. Royal Bank of Canada lowered their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Finally, StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Six research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $309.81.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated 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 directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is currently 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.