Visa Inc. $V Stake Reduced by Westhampton Capital LLC

Westhampton Capital LLC cut its holdings in Visa Inc. (NYSE:V) by 4.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,882 shares of the credit-card processor’s stock after selling 98 shares during the quarter. Westhampton Capital LLC’s holdings in Visa were worth $668,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Keystone Global Partners LLC bought a new stake in Visa in the first quarter worth about $26,000. Family Legacy Financial Solutions LLC acquired a new stake in Visa during the 2nd quarter worth about $28,000. von Borstel & Associates Inc. acquired a new stake in Visa during the 1st quarter worth about $27,000. Cranbrook Wealth Management LLC raised its holdings in Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares during the period. Finally, Westend Capital Management LLC raised its holdings in Visa by 83.1% during the 2nd quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor’s stock worth $38,000 after buying an additional 49 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the sale, the chief executive officer owned 537 shares of the company’s stock, valued at $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on V. Truist Financial cut their price objective on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft began coverage on Visa in a report on Thursday, July 17th. They set a “buy” rating and a $410.00 price objective on the stock. Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Morgan Stanley boosted their price objective on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Finally, Raymond James Financial restated an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $385.96.

Visa Trading Down 0.5%

Shares of NYSE V opened at $345.97 on Friday. The stock has a market cap of $634.09 billion, a price-to-earnings ratio of 33.79, a PEG ratio of 2.06 and a beta of 0.90. The business has a 50 day simple moving average of $343.92 and a 200 day simple moving average of $346.60. Visa Inc. has a 52 week low of $273.24 and a 52 week high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.42 EPS. On average, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio is presently 23.05%.

Visa 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.