Visa Inc. (NYSE:V) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC trimmed its holdings in shares of Visa Inc. (NYSE:V) by 2.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,995 shares of the credit-card processor’s stock after selling 1,583 shares during the quarter. Apollon Wealth Management LLC’s holdings in Visa were worth $14,846,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. POM Investment Strategies LLC boosted its holdings in Visa by 970.0% during 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 during the period. Reston Wealth Management LLC purchased a new position in Visa during the 3rd quarter valued at about $31,000. TruNorth Capital Management LLC boosted its holdings in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the period. Bbjs Financial Advisors LLC purchased a new position in Visa during the 2nd quarter valued at about $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in Visa during the 2nd quarter valued at about $35,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Up 1.0 %

NYSE:V opened at $310.98 on Tuesday. The firm has a market cap of $566.70 billion, a P/E ratio of 31.96, a PEG ratio of 2.06 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The stock’s 50 day simple moving average is $283.95 and its 200-day simple moving average is $274.67. Visa Inc. has a 12-month low of $244.11 and a 12-month high of $312.44.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.33 earnings per share. Equities analysts anticipate that Visa Inc. will post 11.18 EPS for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is presently 21.38%.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 directly owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

V has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. William Blair upgraded Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Piper Sandler lifted their price objective on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Royal Bank of Canada lifted their price objective on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Citigroup lifted their price objective on Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average price target of $321.74.

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.