WealthPlan Investment Management LLC Decreases Stock Position in Visa Inc. (NYSE:V)

WealthPlan Investment Management LLC decreased its position in shares of Visa Inc. (NYSE:V) by 67.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,038 shares of the credit-card processor’s stock after selling 4,301 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Visa were worth $560,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. WFA Asset Management Corp boosted its stake in Visa by 4.6% in the 1st quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock worth $632,000 after purchasing an additional 100 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in Visa by 46.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock worth $14,046,000 after acquiring an additional 16,078 shares during the period. Empowered Funds LLC grew its position in shares of Visa by 16.0% during the 1st quarter. Empowered Funds LLC now owns 58,506 shares of the credit-card processor’s stock valued at $16,328,000 after purchasing an additional 8,086 shares in the last quarter. First National Bank of Hutchinson increased its holdings in shares of Visa by 1.2% in the first quarter. First National Bank of Hutchinson now owns 4,829 shares of the credit-card processor’s stock worth $1,348,000 after purchasing an additional 59 shares during the period. Finally, Fortis Capital Advisors LLC raised its position in shares of Visa by 11.7% in the first quarter. Fortis Capital Advisors LLC now owns 2,424 shares of the credit-card processor’s stock worth $676,000 after buying an additional 254 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the topic of several research analyst reports. Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. William Blair upgraded shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. upped their target price on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Finally, Piper Sandler upped their price objective on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $321.74.

Visa Trading Down 0.2 %

Shares of NYSE V opened at $309.82 on Wednesday. The firm’s 50 day moving average price is $284.64 and its 200-day moving average price is $274.92. Visa Inc. has a 52-week low of $244.11 and a 52-week high of $312.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. The company has a market cap of $564.59 billion, a PE ratio of 31.84, a P/E/G ratio of 2.08 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.33 EPS. On average, equities research analysts expect that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

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

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred 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 completion of 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.19% of the company’s stock.

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.