Obsidian Personal Planning Solutions LLC Decreases Stake in Visa Inc. (NYSE:V)

Obsidian Personal Planning Solutions LLC reduced its stake in Visa Inc. (NYSE:V) by 2.5% during the third quarter, Holdings Channel.com reports. The firm owned 1,751 shares of the credit-card processor’s stock after selling 45 shares during the period. Obsidian Personal Planning Solutions LLC’s holdings in Visa were worth $507,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Peterson Financial Group Inc. purchased a new position in shares of Visa during the third quarter valued at approximately $26,000. POM Investment Strategies LLC increased its stake in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the period. Reston Wealth Management LLC purchased a new position in shares of Visa during the third quarter valued at approximately $31,000. TruNorth Capital Management LLC increased its stake 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 buying an additional 89 shares during the period. Finally, Bbjs Financial Advisors LLC purchased a new position in shares of Visa during the second quarter valued at approximately $35,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This trade represents a 94.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. William Blair raised Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group upped their price target on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Piper Sandler upped their price target on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their price target on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Mizuho upped their price target on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Four investment 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 MarketBeat, Visa has an average rating of “Moderate Buy” and an average price target of $321.74.

Visa Price Performance

Shares of Visa stock opened at $309.64 on Friday. The firm has a market cap of $564.26 billion, a PE ratio of 31.82, a PEG ratio of 2.07 and a beta of 0.95. Visa Inc. has a 12 month low of $245.60 and a 12 month high of $312.44. The stock has a 50 day moving average of $287.04 and a 200 day moving average of $275.95. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period last year, the company earned $2.33 EPS. On average, research analysts expect that Visa Inc. will post 11.19 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. Investors 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. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 24.25%.

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.