Visa Inc. (NYSE:V) Shares Sold by Diversified Trust Co

Diversified Trust Co trimmed its stake in Visa Inc. (NYSE:V) by 30.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 48,112 shares of the credit-card processor’s stock after selling 21,408 shares during the quarter. Diversified Trust Co’s holdings in Visa were worth $13,228,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Westend Capital Management LLC acquired a new stake in shares of Visa during the first quarter worth $25,000. Livelsberger Financial Advisory acquired a new position in Visa during the fourth quarter worth approximately $25,000. POM Investment Strategies LLC raised its stake in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the period. TruNorth Capital Management LLC grew its stake in shares of Visa by 211.9% during the 2nd 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, Abich Financial Wealth Management LLC increased its holdings in shares of Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after buying an additional 46 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

V has been the topic of several research reports. Macquarie restated an “outperform” rating and issued a $300.00 price target on shares of Visa in a report on Friday, September 27th. Evercore ISI reduced their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Keefe, Bruyette & Woods upgraded Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Piper Sandler reduced their price objective on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Finally, BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a research note on Tuesday, September 3rd. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $312.04.

Insider Activity at Visa

In other 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 value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.19% of the stock is owned by insiders.

Visa Price Performance

Shares of V stock traded down $2.19 during midday trading on Monday, reaching $275.74. 1,035,145 shares of the company were exchanged, compared to its average volume of 7,169,840. The company’s 50 day moving average price is $273.00 and its two-hundred day moving average price is $272.86. 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 company has a market cap of $504.31 billion, a P/E ratio of 30.92, a PEG ratio of 1.92 and a beta of 0.96. Visa Inc. has a 12 month low of $228.03 and a 12 month high of $293.07.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same period in the previous year, the business earned $2.16 earnings per share. Visa’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, sell-side analysts expect that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s dividend payout ratio is currently 23.24%.

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.