Emerald Advisers LLC Reduces Position in Visa Inc. (NYSE:V)

Emerald Advisers LLC trimmed its stake in Visa Inc. (NYSE:V) by 16.8% in the third quarter, HoldingsChannel.com reports. The fund owned 3,021 shares of the credit-card processor’s stock after selling 609 shares during the quarter. Emerald Advisers LLC’s holdings in Visa were worth $831,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in V. KMG Fiduciary Partners LLC grew its holdings in Visa by 0.3% in the third quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after purchasing an additional 37 shares during the period. Iron Horse Wealth Management LLC boosted its holdings in shares of Visa by 15.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock valued at $74,000 after purchasing an additional 37 shares during the last quarter. Tlwm grew its stake in shares of Visa by 0.7% during the 2nd quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock valued at $1,376,000 after buying an additional 38 shares during the period. Meridian Financial Partners LLC increased its holdings in shares of Visa by 0.5% during the 2nd quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock worth $2,196,000 after buying an additional 38 shares during the last quarter. Finally, First National Corp MA ADV raised its position in shares of Visa by 1.0% in the 3rd quarter. First National Corp MA ADV now owns 3,841 shares of the credit-card processor’s stock worth $1,056,000 after buying an additional 38 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Performance

Visa stock opened at $290.74 on Monday. The company has a market cap of $529.82 billion, a PE ratio of 29.88, a P/E/G ratio of 1.94 and a beta of 0.95. Visa Inc. has a 12 month low of $239.20 and a 12 month high of $296.34. The company has a fifty day moving average price of $281.00 and a two-hundred day moving average price of $273.66. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37.

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

Visa Increases Dividend

The business also recently declared 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 is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.81%. Visa’s dividend payout ratio (DPR) is 21.38%.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the 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 sale, the chief executive officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on V shares. JPMorgan Chase & Co. upped their price target on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Macquarie increased their target price on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Piper Sandler upped their price target on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average target price of $320.70.

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.