Visa Inc. $V is Mendel Money Management’s 3rd Largest Position

Mendel Money Management decreased its position in shares of Visa Inc. (NYSE:V) by 4.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,839 shares of the credit-card processor’s stock after selling 894 shares during the period. Visa makes up approximately 3.0% of Mendel Money Management’s investment portfolio, making the stock its 3rd biggest position. Mendel Money Management’s holdings in Visa were worth $6,689,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Keystone Global Partners LLC bought a new position in shares of Visa during the 1st quarter valued at approximately $26,000. von Borstel & Associates Inc. bought a new position in shares of Visa during the 1st quarter valued at approximately $27,000. Family Legacy Financial Solutions LLC bought a new position in shares of Visa during the 2nd quarter valued at approximately $28,000. Harbor Asset Planning Inc. bought a new position in shares of Visa during the 2nd quarter valued at approximately $29,000. Finally, Cranbrook Wealth Management LLC boosted its position in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

V stock opened at $344.53 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The business’s fifty day simple moving average is $344.94 and its two-hundred day simple moving average is $348.27. Visa Inc. has a twelve month low of $287.19 and a twelve month high of $375.51. The firm has a market cap of $631.44 billion, a price-to-earnings ratio of 33.74, a PEG ratio of 2.02 and a beta of 0.90.

Visa (NYSE:V) last released its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The business had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same quarter last year, the firm posted $2.71 earnings per share. The business’s revenue was up 11.5% compared to the same quarter last year. Analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a dividend of $0.67 per share. This is a boost from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 12th. Visa’s payout ratio is presently 23.11%.

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. This represents a 95.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Truist Financial dropped their price target on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Morgan Stanley set a $398.00 price target on Visa and gave the stock an “overweight” rating in a research report on Wednesday. Finally, KeyCorp reiterated an “overweight” rating and issued a $405.00 price target on shares of Visa in a research report on Wednesday, October 22nd. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

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.