Northstar Asset Management LLC reduced its position in Visa Inc. (NYSE:V) by 2.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,107 shares of the credit-card processor’s stock after selling 225 shares during the quarter. Northstar Asset Management LLC’s holdings in Visa were worth $1,895,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of V. Danda Trouve Investment Management Inc. acquired a new stake in Visa in the second quarter worth $25,000. Baldrige Asset Management LLC bought a new stake in shares of Visa in the second quarter valued at $40,000. FFT Wealth Management LLC bought a new stake in shares of Visa during the 2nd quarter valued at $46,000. Financial Management Professionals Inc. raised its stake in shares of Visa by 38.9% during the 2nd quarter. Financial Management Professionals Inc. now owns 207 shares of the credit-card processor’s stock valued at $48,000 after purchasing an additional 58 shares during the period. Finally, Harvest Group Wealth Management LLC bought a new stake in shares of Visa during the 2nd quarter valued at $50,000. 81.04% of the stock is owned by institutional investors.
Shares of V stock traded down $2.46 during trading hours on Monday, reaching $219.29. The company had a trading volume of 134,914 shares, compared to its average volume of 8,191,562. Visa Inc. has a 12-month low of $179.23 and a 12-month high of $252.67. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.00 and a current ratio of 2.00. The company has a market capitalization of $427.17 billion, a price-to-earnings ratio of 44.80, a PEG ratio of 2.00 and a beta of 0.98. The stock has a fifty day moving average of $235.54 and a 200-day moving average of $229.68.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Friday, August 13th were issued a $0.32 dividend. The ex-dividend date of this dividend was Thursday, August 12th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.58%. Visa’s payout ratio is 25.40%.
In other news, EVP Tullier Kelly Mahon sold 2,091 shares of Visa stock in a transaction on Wednesday, July 28th. The shares were sold at an average price of $248.71, for a total value of $520,052.61. Following the transaction, the executive vice president now directly owns 32,055 shares of the company’s stock, valued at approximately $7,972,399.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Ryan Mcinerney sold 11,193 shares of the company’s stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $229.10, for a total transaction of $2,564,316.30. Following the completion of the sale, the president now directly owns 11,193 shares of the company’s stock, valued at $2,564,316.30. The disclosure for this sale can be found here. Insiders sold 84,813 shares of company stock worth $20,342,613 in the last three months. 0.19% of the stock is currently owned by corporate insiders.
A number of research firms have recently issued reports on V. JPMorgan Chase & Co. upped their price objective on Visa from $249.00 to $267.00 and gave the stock an “overweight” rating in a report on Tuesday, August 17th. Truist upped their price target on Visa from $250.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. Compass Point upped their price target on Visa from $265.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. Wells Fargo & Company upped their target price on shares of Visa from $265.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 28th. Finally, Citigroup upped their target price on shares of Visa from $283.00 to $288.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. One research analyst has rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $271.52.
Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global ATM.
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