Gold Investment Management Ltd. Trims Stake in Visa Inc. (NYSE:V)

Gold Investment Management Ltd. decreased its stake in shares of Visa Inc. (NYSE:V) by 11.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,704 shares of the credit-card processor’s stock after selling 615 shares during the quarter. Gold Investment Management Ltd.’s holdings in Visa were worth $1,294,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in V. POM Investment Strategies LLC grew its stake in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares during the period. Reston Wealth Management LLC purchased a new stake in shares of Visa in the third quarter valued at $31,000. TruNorth Capital Management LLC increased its stake in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC purchased a new position in Visa during the second quarter worth about $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in Visa in the 2nd quarter worth about $35,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

NYSE:V opened at $307.92 on Friday. Visa Inc. has a 1-year low of $240.97 and a 1-year high of $311.15. The stock has a market cap of $561.13 billion, a P/E ratio of 31.65, a PEG ratio of 2.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. The firm has a 50-day moving average of $283.95 and a two-hundred day moving average of $274.67.

Visa (NYSE:V) last issued 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 return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the firm earned $2.33 EPS. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. On average, research analysts expect that Visa Inc. will post 11.18 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.77%. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 21.38%.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on V. Piper Sandler increased their price objective on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 price target on shares of Visa in a research note on Thursday, September 12th. Morgan Stanley boosted their price objective on shares of Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft increased their target price on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada upped their price target on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average target price of $321.74.

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.