MainStreet Investment Advisors LLC Sells 2,180 Shares of Visa Inc. (NYSE:V)

MainStreet Investment Advisors LLC decreased its position in shares of Visa Inc. (NYSE:V) by 6.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,245 shares of the credit-card processor’s stock after selling 2,180 shares during the period. Visa accounts for about 0.9% of MainStreet Investment Advisors LLC’s investment portfolio, making the stock its 29th largest position. MainStreet Investment Advisors LLC’s holdings in Visa were worth $7,676,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Hilltop National Bank bought a new position in shares of Visa in the first quarter worth about $1,212,000. Absolute Capital Management LLC bought a new position in Visa in the 1st quarter worth approximately $404,000. SageView Advisory Group LLC grew its holdings in Visa by 40.4% during the 4th quarter. SageView Advisory Group LLC now owns 25,137 shares of the credit-card processor’s stock valued at $6,967,000 after buying an additional 7,236 shares in the last quarter. Davidson Capital Management Inc. raised its position in shares of Visa by 0.5% during the first quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock valued at $2,588,000 after buying an additional 44 shares during the last quarter. Finally, Empirical Finance LLC lifted its holdings in shares of Visa by 4.4% in the first quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after buying an additional 1,914 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.3 %

Shares of NYSE V opened at $279.37 on Friday. The stock has a market capitalization of $509.10 billion, a PE ratio of 31.21, a price-to-earnings-growth ratio of 1.98 and a beta of 0.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $290.96. The stock’s fifty day simple moving average is $266.53 and its two-hundred day simple moving average is $273.13.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same period in the prior year, the firm posted $2.16 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, analysts expect that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction 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. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada reduced their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Piper Sandler reduced their price objective on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Citigroup lowered their target price on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Bank of America restated a “neutral” rating and issued a $297.00 price target (down previously from $305.00) on shares of Visa in a research report on Wednesday, July 10th. Finally, Evercore ISI lowered their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $309.54.

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.