Tompkins Financial Corp Cuts Position in Visa Inc. (NYSE:V)

Tompkins Financial Corp decreased its position in shares of Visa Inc. (NYSE:V) by 71.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 199 shares of the credit-card processor’s stock after selling 505 shares during the period. Tompkins Financial Corp’s holdings in Visa were worth $55,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in V. POM Investment Strategies LLC boosted its stake in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares in the last quarter. Reston Wealth Management LLC bought a new stake in shares of Visa in the 3rd quarter worth approximately $31,000. TruNorth Capital Management LLC boosted its stake in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares in the last quarter. Bbjs Financial Advisors LLC bought a new position in shares of Visa during the 2nd quarter valued at $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in Visa in the 2nd quarter worth $35,000. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on V. Jefferies Financial Group increased their target price on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Piper Sandler lifted their target price on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Morgan Stanley upped their price target on shares of Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Barclays raised their price target on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

Visa Price Performance

NYSE V opened at $307.87 on Friday. The company has a market cap of $561.03 billion, a PE ratio of 31.64, a P/E/G ratio of 2.06 and a beta of 0.95. Visa Inc. has a 52-week low of $240.97 and a 52-week high of $311.15. 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 firm’s 50 day moving average price is $283.95 and its 200-day moving average price is $274.67.

Visa (NYSE:V) last announced its quarterly 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 the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same period last year, the business posted $2.33 EPS. Sell-side analysts forecast that Visa Inc. will post 11.18 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio is presently 21.38%.

Insider Activity

In related 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 completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The transaction 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 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.