Visa Inc. (NYSE:V) Shares Sold by Simplicity Wealth LLC

Simplicity Wealth LLC lessened its stake in shares of Visa Inc. (NYSE:V) by 73.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,582 shares of the credit-card processor’s stock after selling 46,296 shares during the quarter. Simplicity Wealth LLC’s holdings in Visa were worth $4,559,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Livelsberger Financial Advisory acquired a new position in shares of Visa in the 4th quarter valued at $25,000. Westend Capital Management LLC acquired a new position in shares of Visa in the first quarter worth about $25,000. POM Investment Strategies LLC increased its position in shares of Visa by 970.0% in the second 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 in the last quarter. TruNorth Capital Management LLC raised its holdings in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the period. Finally, Bbjs Financial Advisors LLC purchased a new stake in shares of Visa in the 2nd quarter valued at approximately $35,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on V. Morgan Stanley reissued an “overweight” rating and set a $322.00 price target on shares of Visa in a research report on Wednesday, September 25th. Bank of America lifted their target price on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Jefferies Financial Group dropped their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a research note on Tuesday, September 3rd. Finally, William Blair upgraded Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $312.04.

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 shares were 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 in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.19% of the stock is owned by insiders.

Visa Stock Performance

Shares of NYSE:V opened at $277.79 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market cap of $506.22 billion, a PE ratio of 29.71, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. Visa Inc. has a twelve month low of $228.03 and a twelve month high of $293.07. The business has a fifty day moving average of $274.16 and a 200-day moving average of $272.72.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the firm earned $2.16 EPS. On average, equities research analysts predict that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. Visa’s dividend payout ratio is currently 22.25%.

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.