Smith Moore & CO. Purchases 528 Shares of Visa Inc. (NYSE:V)

Smith Moore & CO. increased its position in Visa Inc. (NYSE:VGet Rating) by 6.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,977 shares of the credit-card processor’s stock after acquiring an additional 528 shares during the quarter. Smith Moore & CO.’s holdings in Visa were worth $1,767,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. 1ST Source Bank boosted its position in shares of Visa by 0.3% during the second quarter. 1ST Source Bank now owns 14,266 shares of the credit-card processor’s stock valued at $2,809,000 after buying an additional 47 shares during the last quarter. Austin Private Wealth LLC raised its stake in shares of Visa by 1.4% in the second quarter. Austin Private Wealth LLC now owns 3,522 shares of the credit-card processor’s stock worth $693,000 after buying an additional 49 shares during the period. Westhampton Capital LLC raised its stake in shares of Visa by 3.4% in the first quarter. Westhampton Capital LLC now owns 1,510 shares of the credit-card processor’s stock worth $335,000 after buying an additional 50 shares during the period. Sanders Morris Harris LLC raised its stake in Visa by 0.6% during the 2nd quarter. Sanders Morris Harris LLC now owns 9,090 shares of the credit-card processor’s stock valued at $1,802,000 after purchasing an additional 50 shares during the period. Finally, JGP Wealth Management LLC boosted its stake in Visa by 1.9% in the 2nd quarter. JGP Wealth Management LLC now owns 2,649 shares of the credit-card processor’s stock worth $533,000 after purchasing an additional 50 shares during the period. Institutional investors own 81.49% of the company’s stock.

Analyst Ratings Changes

V has been the subject of a number of research analyst reports. Morgan Stanley increased their price objective on shares of Visa from $282.00 to $284.00 and gave the company an “overweight” rating in a report on Wednesday, October 26th. Susquehanna lowered their price target on Visa from $290.00 to $260.00 in a research report on Thursday, July 28th. Macquarie lowered their price target on Visa from $270.00 to $260.00 and set an “outperform” rating for the company in a research report on Wednesday, July 27th. Truist Financial decreased their target price on Visa from $250.00 to $220.00 and set a “buy” rating for the company in a research report on Thursday, October 13th. Finally, UBS Group lifted their target price on Visa from $292.00 to $296.00 and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Five investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $248.14.

Insider Buying and Selling

In other news, CEO Alfred F. Kelly, Jr. sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, September 29th. The stock was sold at an average price of $180.00, for a total transaction of $1,080,000.00. Following the completion of the transaction, the chief executive officer now directly owns 153,887 shares of the company’s stock, valued at $27,699,660. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.21% of the company’s stock.

Visa Trading Up 0.7 %

V stock traded up $1.40 during trading on Thursday, reaching $211.73. 3,807,338 shares of the stock traded hands, compared to its average volume of 7,973,231. The business’s 50 day moving average price is $193.72 and its 200-day moving average price is $200.97. Visa Inc. has a 52-week low of $174.60 and a 52-week high of $235.85. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market capitalization of $400.26 billion, a PE ratio of 30.29, a P/E/G ratio of 1.69 and a beta of 0.96.

Visa Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 16th will be given a $0.395 dividend. This represents a $1.58 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Thursday, December 15th. Visa’s payout ratio is 25.75%.

Visa announced that its Board of Directors has initiated a stock buyback program on Tuesday, October 25th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the credit-card processor to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Visa Company Profile

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Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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