REDW Wealth LLC Lowers Holdings in Visa Inc. (NYSE:V)

REDW Wealth LLC trimmed its holdings in Visa Inc. (NYSE:V) by 10.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,900 shares of the credit-card processor’s stock after selling 323 shares during the quarter. REDW Wealth LLC’s holdings in Visa were worth $797,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its position in shares of Visa by 45,189.4% during the 3rd quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after acquiring an additional 9,736,958 shares during the period. SG Americas Securities LLC grew its position in shares of Visa by 4,412.3% during the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock valued at $1,119,725,000 after acquiring an additional 4,166,905 shares during the period. National Bank of Canada FI grew its position in shares of Visa by 787.1% during the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after acquiring an additional 4,099,122 shares during the period. Swedbank AB acquired a new stake in shares of Visa during the 1st quarter valued at about $511,321,000. Finally, GQG Partners LLC grew its position in shares of Visa by 40.1% during the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after acquiring an additional 1,715,686 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Oppenheimer restated an “outperform” rating and set a $321.00 target price (up from $318.00) on shares of Visa in a research report on Wednesday. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $317.00 price target on shares of Visa in a research note on Thursday, September 12th. William Blair raised shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Robert W. Baird raised their price target on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Piper Sandler raised their price target on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday. Four investment 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $320.70.

Visa Stock Up 0.3 %

Visa stock opened at $290.74 on Friday. Visa Inc. has a fifty-two week low of $239.20 and a fifty-two week high of $296.34. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. The firm has a 50 day moving average price of $281.00 and a 200 day moving average price of $273.65. The company has a market capitalization of $529.82 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter last year, the firm earned $2.33 EPS. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. Research analysts expect that Visa Inc. will post 11.17 earnings per share for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.81%. The ex-dividend date is Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is 21.38%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were 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 owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

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.