Financial Insights Inc. Lowers Stock Position in Visa Inc. (NYSE:V)

Financial Insights Inc. trimmed its position in Visa Inc. (NYSE:V) by 32.3% in the third quarter, HoldingsChannel reports. The firm owned 3,717 shares of the credit-card processor’s stock after selling 1,774 shares during the quarter. Financial Insights Inc.’s holdings in Visa were worth $1,022,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in V. SG Americas Securities LLC lifted its stake in Visa by 4,412.3% in the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock valued at $1,119,725,000 after purchasing an additional 4,166,905 shares during the last quarter. National Bank of Canada FI boosted its holdings in Visa by 787.1% in the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after buying an additional 4,099,122 shares during the period. Swedbank AB bought a new position in Visa in the 1st quarter worth approximately $511,321,000. GQG Partners LLC grew its stake in Visa by 40.1% in the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after buying an additional 1,715,686 shares in the last quarter. Finally, Wulff Hansen & CO. raised its holdings in Visa by 26,951.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock valued at $416,788,000 after acquiring an additional 1,582,074 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of NYSE:V opened at $283.76 on Thursday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market cap of $518.98 billion, a PE ratio of 31.71, a PEG ratio of 2.00 and a beta of 0.96. The company’s fifty day moving average is $278.40 and its 200 day moving average is $273.10. Visa Inc. has a 52 week low of $228.03 and a 52 week high of $293.07.

Visa (NYSE:V) last released its quarterly earnings data 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 return on equity of 51.94% and a net margin of 54.72%. 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 business earned $2.16 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. Research analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on V shares. Keefe, Bruyette & Woods raised 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 research report on Wednesday, July 24th. Compass Point initiated coverage on shares of Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective for the company. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Finally, Piper Sandler reduced their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research 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 given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.19.

Insider Buying and Selling

In related 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 transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by corporate insiders.

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.