Wellington Management Group LLP Sells 3,134,925 Shares of Visa Inc. (NYSE:V)

Wellington Management Group LLP lessened its stake in Visa Inc. (NYSE:V) by 18.0% in the third quarter, HoldingsChannel reports. The fund owned 14,305,763 shares of the credit-card processor’s stock after selling 3,134,925 shares during the period. Visa makes up about 0.7% of Wellington Management Group LLP’s portfolio, making the stock its 23rd biggest position. Wellington Management Group LLP’s holdings in Visa were worth $3,933,370,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Accel Wealth Management increased its position in Visa by 52.3% during the 2nd quarter. Accel Wealth Management now owns 1,372 shares of the credit-card processor’s stock valued at $360,000 after purchasing an additional 471 shares during the period. Gilman Hill Asset Management LLC increased its holdings in shares of Visa by 6.1% in the 2nd quarter. Gilman Hill Asset Management LLC now owns 1,780 shares of the credit-card processor’s stock worth $467,000 after purchasing an additional 102 shares in the last quarter. Sax Wealth Advisors LLC increased its holdings in Visa by 53.7% in the 2nd quarter. Sax Wealth Advisors LLC now owns 1,211 shares of the credit-card processor’s stock worth $318,000 after buying an additional 423 shares in the last quarter. Optimum Investment Advisors grew its stake in shares of Visa by 8.9% in the second quarter. Optimum Investment Advisors now owns 4,202 shares of the credit-card processor’s stock worth $1,103,000 after acquiring an additional 345 shares during the period. Finally, Twelve Points Wealth Management LLC grew its position in Visa by 0.8% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 5,269 shares of the credit-card processor’s stock worth $1,383,000 after purchasing an additional 43 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Down 0.3 %

NYSE V opened at $309.08 on Friday. The stock has a 50 day moving average price of $295.00 and a 200-day moving average price of $279.46. Visa Inc. has a one year low of $252.70 and a one year high of $317.42. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market capitalization of $575.78 billion, a P/E ratio of 31.77, a P/E/G ratio of 2.10 and a beta of 0.96.

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, topping 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 firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the previous year, the firm posted $2.33 EPS. The business’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, equities analysts predict that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. Visa’s dividend payout ratio is 24.25%.

Analyst Ratings Changes

V has been the topic of a number of recent research reports. The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 target price on shares of Visa in a report on Thursday, September 12th. Jefferies Financial Group boosted their target price 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. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Piper Sandler boosted their price objective on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Macquarie raised their target price on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned 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 a consensus price target of $321.74.

Visa 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.