WESPAC Advisors SoCal LLC Lowers Holdings in Visa Inc. (NYSE:V)

WESPAC Advisors SoCal LLC reduced its stake in Visa Inc. (NYSE:V) by 7.4% during the third quarter, HoldingsChannel reports. The fund owned 10,253 shares of the credit-card processor’s stock after selling 819 shares during the period. WESPAC Advisors SoCal LLC’s holdings in Visa were worth $2,819,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. POM Investment Strategies LLC lifted its position in 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 acquiring an additional 97 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Visa during the third quarter valued at $31,000. TruNorth Capital Management LLC increased its holdings in Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares in the last quarter. Abich Financial Wealth Management LLC raised its position in Visa by 52.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after buying an additional 46 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in Visa during the 2nd quarter valued at about $35,000. 82.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. TD Cowen lifted their price target on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a research note on Tuesday, September 3rd. Barclays increased their price target on Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Citigroup boosted their target price on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Compass Point began coverage on shares of Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price for the company. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the 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 sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 94.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by insiders.

Visa Stock Performance

NYSE V opened at $309.64 on Friday. The business has a 50 day simple moving average of $287.04 and a two-hundred day simple moving average of $275.95. Visa Inc. has a 1-year low of $245.60 and a 1-year high of $312.44. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. The stock has a market capitalization of $564.26 billion, a PE ratio of 31.82, a P/E/G ratio of 2.07 and a beta of 0.95.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the business earned $2.33 earnings per share. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, research analysts predict that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.76%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is currently 24.25%.

Visa Company Profile

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.