Convergence Financial LLC Cuts Position in Visa Inc. (NYSE:V)

Convergence Financial LLC lessened its holdings in Visa Inc. (NYSE:V) by 10.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,811 shares of the credit-card processor’s stock after selling 449 shares during the quarter. Convergence Financial LLC’s holdings in Visa were worth $1,048,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hilltop National Bank purchased a new stake in shares of Visa during the first quarter valued at approximately $1,212,000. Absolute Capital Management LLC purchased a new stake in shares of Visa during the first quarter valued at approximately $404,000. Davidson Capital Management Inc. grew its holdings in shares of Visa by 0.5% during the first quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock valued at $2,588,000 after buying an additional 44 shares during the last quarter. Empirical Finance LLC grew its holdings in shares of Visa by 4.4% during the first quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock valued at $12,761,000 after buying an additional 1,914 shares during the last quarter. Finally, Arjuna Capital grew its holdings in shares of Visa by 0.8% during the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after buying an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Down 0.5 %

V opened at $281.73 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. Visa Inc. has a fifty-two week low of $228.03 and a fifty-two week high of $293.07. The firm’s fifty day moving average is $279.02 and its 200 day moving average is $273.17. The stock has a market cap of $515.27 billion, a price-to-earnings ratio of 31.48, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96.

Wall Street Analyst Weigh In

V has been the topic of a number of recent analyst reports. Piper Sandler cut their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. TD Cowen lowered their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Citigroup dropped their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a report on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average price target of $314.19.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.19% of the stock is owned by corporate insiders.

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.