Visa Inc. (NYSE:V) Shares Sold by Northeast Financial Consultants Inc

Northeast Financial Consultants Inc lessened its stake in Visa Inc. (NYSE:V) by 1.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,052 shares of the credit-card processor’s stock after selling 305 shares during the period. Northeast Financial Consultants Inc’s holdings in Visa were worth $6,050,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Jessup Wealth Management Inc lifted its stake in Visa by 0.7% in the 1st quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock valued at $1,410,000 after acquiring an additional 37 shares in the last quarter. Cordatus Wealth Management LLC raised its holdings in shares of Visa by 0.3% in the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock valued at $3,012,000 after purchasing an additional 37 shares during the last quarter. Garden State Investment Advisory Services LLC lifted its position in shares of Visa by 1.8% in the fourth quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock worth $571,000 after purchasing an additional 38 shares in the last quarter. Tlwm boosted its holdings in Visa by 0.7% during the second quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock worth $1,376,000 after purchasing an additional 38 shares during the last quarter. Finally, Meridian Financial Partners LLC grew its position in Visa by 0.5% in the second quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock valued at $2,196,000 after purchasing an additional 38 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Up 1.3 %

V stock opened at $275.17 on Friday. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $293.07. The company has a market capitalization of $503.27 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. The company’s 50-day simple moving average is $271.31 and its 200 day simple moving average is $273.27. 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 (NYSE:V) last announced its 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 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 analyst estimates of $8.92 billion. During the same quarter in the prior year, the business posted $2.16 EPS. The business’s revenue was up 9.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.76%. Visa’s dividend payout ratio is presently 23.24%.

Analyst Ratings Changes

Several equities research analysts have commented on V shares. 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 research report on Wednesday, July 24th. William Blair raised Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley reaffirmed an “overweight” rating and set a $322.00 price target on shares of Visa in a research report on Wednesday. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Macquarie reissued an “outperform” rating and issued a $300.00 target price on shares of Visa in a research note on Friday. Six investment 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $310.22.

Insider Activity

In related 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 transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

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.