Visa Inc. (NYSE:V) Stock Holdings Lowered by Sitrin Capital Management LLC

Sitrin Capital Management LLC lowered its position in shares of Visa Inc. (NYSE:V) by 0.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 24,053 shares of the credit-card processor’s stock after selling 207 shares during the period. Visa accounts for 3.3% of Sitrin Capital Management LLC’s portfolio, making the stock its 13th biggest holding. Sitrin Capital Management LLC’s holdings in Visa were worth $6,613,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Lebenthal Global Advisors LLC grew its position in shares of Visa by 3.3% during the third quarter. Lebenthal Global Advisors LLC now owns 5,340 shares of the credit-card processor’s stock worth $1,468,000 after acquiring an additional 172 shares during the last quarter. Absher Wealth Management LLC grew its position in shares of Visa by 2.2% during the third quarter. Absher Wealth Management LLC now owns 89,087 shares of the credit-card processor’s stock worth $24,494,000 after acquiring an additional 1,883 shares during the last quarter. Nadler Financial Group Inc. lifted its holdings in Visa by 23.1% in the third quarter. Nadler Financial Group Inc. now owns 2,427 shares of the credit-card processor’s stock worth $667,000 after purchasing an additional 455 shares during the period. Jacobson & Schmitt Advisors LLC lifted its holdings in Visa by 3.9% in the third quarter. Jacobson & Schmitt Advisors LLC now owns 40,574 shares of the credit-card processor’s stock worth $11,156,000 after purchasing an additional 1,523 shares during the period. Finally, Hartford Financial Management Inc. lifted its holdings in Visa by 3.9% in the third quarter. Hartford Financial Management Inc. now owns 15,705 shares of the credit-card processor’s stock worth $4,318,000 after purchasing an additional 591 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by company insiders.

Visa Stock Performance

Shares of V opened at $290.74 on Friday. The company’s fifty day moving average is $281.00 and its 200-day moving average is $273.63. Visa Inc. has a 12 month low of $239.20 and a 12 month high of $296.34. The firm has a market cap of $529.82 billion, a price-to-earnings ratio of 29.88, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping 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 company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the business posted $2.33 EPS. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. Equities analysts expect that Visa Inc. will post 11.17 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. This is a positive change 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 is 21.38%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on V. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $317.00 price objective on shares of Visa in a report on Thursday, September 12th. JPMorgan Chase & Co. upped their price objective on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Piper Sandler upped their price target on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a report on Tuesday, September 3rd. Four equities research 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $320.70.

Visa Company 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.