Park Avenue Securities LLC Sells 1,091 Shares of Visa Inc. (NYSE:V)

Park Avenue Securities LLC lessened its holdings in Visa Inc. (NYSE:V) by 1.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 75,128 shares of the credit-card processor’s stock after selling 1,091 shares during the period. Park Avenue Securities LLC’s holdings in Visa were worth $20,656,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of V. Westend Capital Management LLC purchased a new stake in shares of Visa during the 1st quarter valued at about $25,000. Livelsberger Financial Advisory purchased a new stake in Visa during the fourth quarter valued at approximately $25,000. POM Investment Strategies LLC lifted its stake in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of Visa in the 4th quarter valued at approximately $33,000. Finally, TruNorth Capital Management LLC increased its position 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 purchasing an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.

Visa Price Performance

Shares of V stock opened at $276.86 on Friday. The company has a market cap of $506.36 billion, a P/E ratio of 30.93, a PEG ratio of 1.94 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The stock’s 50-day moving average is $272.63 and its 200 day moving average is $273.12. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07.

Visa (NYSE:V) last issued its quarterly earnings data 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 the consensus estimate of $8.92 billion. During the same quarter in the previous year, the firm earned $2.16 EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. Research analysts predict that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed 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 of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. Visa’s dividend payout ratio is presently 23.24%.

Analysts Set New Price Targets

Several research analysts have commented on V shares. Evercore ISI dropped their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. William Blair raised shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Piper Sandler reduced their price target on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Finally, Macquarie restated an “outperform” rating and set a $300.00 price objective on shares of Visa in a report on Friday, September 27th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $312.04.

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.