Mattern Wealth Management LLC Sells 4,943 Shares of Visa Inc. (NYSE:V)

Mattern Wealth Management LLC cut its holdings in Visa Inc. (NYSE:V) by 31.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,638 shares of the credit-card processor’s stock after selling 4,943 shares during the period. Mattern Wealth Management LLC’s holdings in Visa were worth $2,925,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Dock Street Asset Management Inc. lifted its holdings in Visa by 3.1% in the 3rd quarter. Dock Street Asset Management Inc. now owns 143,658 shares of the credit-card processor’s stock worth $39,499,000 after purchasing an additional 4,373 shares in the last quarter. Harbor Advisory Corp MA raised its holdings in shares of Visa by 3.9% during the 3rd quarter. Harbor Advisory Corp MA now owns 9,336 shares of the credit-card processor’s stock worth $2,567,000 after acquiring an additional 350 shares in the last quarter. Sky Investment Group LLC raised its holdings in shares of Visa by 5.2% during the 3rd quarter. Sky Investment Group LLC now owns 7,051 shares of the credit-card processor’s stock worth $1,939,000 after acquiring an additional 349 shares in the last quarter. Calton & Associates Inc. purchased a new stake in shares of Visa during the 3rd quarter worth approximately $803,000. Finally, Foundations Investment Advisors LLC raised its holdings in shares of Visa by 15.2% during the 3rd quarter. Foundations Investment Advisors LLC now owns 49,994 shares of the credit-card processor’s stock worth $13,746,000 after acquiring an additional 6,605 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

V opened at $284.88 on Wednesday. Visa Inc. has a 12-month low of $228.03 and a 12-month high of $293.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The business’s fifty day simple moving average is $277.95 and its 200-day simple moving average is $273.02. The company has a market capitalization of $521.03 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 2.00 and a beta of 0.96.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. William Blair raised Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods upgraded Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Citigroup decreased their price target on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Oppenheimer began coverage on Visa in a report on Tuesday, October 1st. They set an “outperform” rating and a $318.00 price target on the stock. Finally, TD Cowen decreased their price target on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $314.19.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’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 completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.19% of the stock is currently owned by company insiders.

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.